Philippine Stocks: Bank of the Philippine Islands, Marcventures
The Philippine Stock Exchange Index increased less than 0.1 percent to 4,291.72, the third day of gains.
Bank of the Philippine Islands (BPI) climbed 2.7 percent to 55.8 pesos, the highest close since Nov. 16. President Aurelio Montinola said loans and the value of assets under management may rise as much as 12 percent in 2012.
Marcventures Holdings Inc. (MARC) advanced 0.5 percent to 2.11 pesos. It earlier climbed 3.8 percent, the biggest intraday gain since Nov. 18. The company said its mining unit signed a three-year contract to sell 3 million metric tons of nickel laterite ore to Dunfeng International Philippines Inc.
MRC Allied Inc. (MRC) advanced 1.6 percent to 31.5 centavos, the sharpest gain since Nov. 17. The company said said it’s preparing documents to list its MRC Tampakan Mines Inc. unit on the Philippine Stock Exchange.
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