Philippine Stocks: Ayala, Globe, Metro Pacific, Security Bank
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 increased 0.7 percent to 4,346.20, the highest close since Sept. 8.
Ayala Corp. (AC) added 2.4 percent to 297 pesos, the sharpest gain since Oct. 17, on speculation earnings will rise after venture Globe Telecom Inc. (GLO) posted a gain in third-quarter profit and said it will cut operating costs and capital spending. Globe advanced for a third day, increasing 0.9 percent to 950 pesos, the highest close since Aug. 5.
Metro Pacific Investments Corp. (MPI) , which has investments in power and tollroads, increased 3.4 percent to 3.38 pesos, the highest close since Aug. 18. The company said nine-month net income increased 33 percent to 3.44 billion pesos ($80 million) from 2.59 billion pesos a year ago.
Security Bank Corp. (SECB) climbed 2.3 percent to 91.45 pesos, the highest close since Sept. 5. The company’s nine-month profit increased 21 percent to 4 billion pesos, a stock-exchange filing showed.
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