Philippine Stocks: Alsons Consolidated, Belle, Cebu Air
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 fell for a fourth day, the longest losing streak since the five days through Sept. 26, dropping 0.1 percent to 4,299.47.
Alsons Consolidated Resources Inc. (ACR) retreated 0.8 percent to 1.24 pesos after saying it’s in talks with Electricity Generating Co. of Thailand and Toyota Tsusho Corp. for a possible partnership in a 200-megawatt power plant in the southern Philippine island of Mindanao.
Belle Corp. (BEL) slumped 4.4 percent to 4.18 pesos, its biggest decline since Nov. 2. The company reported a net loss of 25.8 million pesos ($594,000) in the third quarter as sales fell, compared with a 152 million-peso profit a year earlier.
Cebu Air Inc. (CEB) , the Philippines’ largest budget carrier, decreased 2 percent to 70 pesos, its lowest close since Oct. 3. The airline unit of JG Summit Holdings Inc. (JGS) posted a 219 million-peso loss in the third quarter, compared with a 1.67 billion-peso profit a year earlier, on higher fuel costs. JG Summit fell 1 percent to 25 pesos.
To contact the editor responsible for this story: Darren Boey at firstname.lastname@example.org