Philippines’ Filinvest Advances After Parent Buys Shares

Filinvest Land Inc. (FLI) advanced to the highest in more than two weeks after parent Filinvest Development Corp. bought 2.74 million additional shares in the company.

The stock surged as much as 2.7 percent to 1.15 pesos and traded at 1.14 pesos at 11:41 a.m. in Manila, set for the highest close since Sept. 22. The benchmark Philippine Stock Exchange Index climbed 0.3 percent.

To contact the reporter on this story: Ian Sayson in Manila at isayson@bloomberg.net

To contact the editor responsible for this story: Matthew Oakley at moakley@bloomberg.net

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