Philippine Stocks: Metro Pacific, Philippine Long Distance

Shares of the following companies had unusual moves in Philippine trading. Stock symbols are in parentheses and prices are as of the close in Manila.

The Philippine Stock Exchange Index climbed 1 percent to 4,314.67. Financial markets in the Philippines were closed yesterday for a holiday.

Metro Pacific Investments Corp. (MPI) gained 1.9 percent to 3.27 pesos, rising for a second day. The company has made an agreement with Thailand’s Bumrungrad International Ltd. that will allow Metro Pacific to acquire a controlling interest in Asian Hospital Inc., Metro Pacific said in a statement to the stock exchange.

Philippine Long Distance Telephone Co. (TEL) gained 1.2 percent to 2,388 pesos, the highest close since Oct. 28. Unit SPi Global said it acquired Laserwords Private Ltd., a publishing business process outsourcing company in India. The purchase will expand SPi Global’s content solution business, President Maulik Parekh said in an e-mailed statement.

To contact the reporter on this story: Saeromi Shin in Seoul at sshin15@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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