The Philippine Stock Exchange Index increased 1.9 percent to 4,290.59, the steepest gain since Oct. 7.
International Container Terminal Services Inc. (ICT) , the largest Philippine port operator, increased 1.3 percent to 54.70 pesos, the first gain since Nov. 21. The stock was added into the MSCI Philippines Index at the end of trading yesterday, based on a statement MSCI Inc. released on Nov. 16.
Philippine Long Distance Telephone Co. (TEL) , the nation’s biggest phone company, increased 2.9 percent to 2,470 pesos, its highest close since May 27. PLDT Global Corp., a unit of the Manila-based company, and Axiata Group Bhd. signed an agreement to provide mobile virtual network operator services in Malaysia.
Megaworld Corp. (MEG) advanced 2.8 percent to 1.85 pesos, the biggest advance since Nov. 15. The company signed a so-called memorandum of agreement to develop up to 550 hectares in the Clark Freeport Zone and Clark Special Economic Zone, an exchange filing showed. The project will cost at least 7 billion pesos ($161.5 million) to develop, it said.
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