Philippine Stocks: Digital, First Philippine, NiHAO Mineral
Shares of the following companies had unusual moves in Philippine trading. Stock symbols are in parentheses and prices are as of the noon close in Manila.
The Philippine Stock Exchange Index decreased 0.2 percent to 4,366.45.
Digital Telecommunications Philippines Inc. (DGTL PM) climbed 2.7 percent to 1.54 pesos, the sharpest increase since March 28. Philippine Long Distance Telephone Co. (TEL)’s takeover of Digital may get approval from the National Telecommunications Commission, BusinessMirror reported today, citing unidentified persons. National Telecommunications Commissioner Gamaliel Cordoba couldn’t be reached in his office for comment.
Philippine Long Distance, which traded without the right to its latest dividend today, lost 0.1 percent to 2,350 pesos.
First Philippine Holdings Corp. (FPH) climbed 1.7 percent to 57.95 pesos, the biggest gain since Aug. 11. The company bought back 160,000 shares at 56.99 pesos each.
NiHAO Mineral Resources International Inc. (NI) , a minerals explorer, climbed 1.6 percent to 3.76 pesos, the highest close since Oct. 26. NiHAO said it boosted its stake in Oriental Peninsula Resources Group Inc. (ORE) , owner of nickel assets, with the purchase of 20 million shares at 5.24 pesos each. Oriental declined from a record, losing 0.7 percent to 5.37 pesos.
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