Philippine Stock Movers: Aboitiz, DMCI, Holcim, Republic Cement
The Philippine Stock Exchange Index (PCOMP) rose 1.5 percent to 4,487.77, the highest close since Aug. 4.
Cement manufacturers: Holcim Philippines Inc. (HLCM) , the nation’s largest producer, increased 4 percent to 11 pesos, the highest close since Aug. 3. Republic Cement Corp. (RCM) rose 1.9 percent to 5.91 pesos, the highest close since Aug. 25.
The Philippine government pledged to speed up proposed infrastructure projects this year. It may offer eight to 16 of the so-called public-private partnership projects worth as much as 142 billion pesos ($3.2 billion) to investors this year, Cosette Canilao, executive director of the program, said in an interview in her Manila office yesterday.
Aboitiz Power Corp. (AP) increased 1.4 percent to 29.80 pesos, the sharpest gain since Dec. 13. The company signed a 20- year agreement to supply Melters Steel Corp. with 40 megawatts of power, Aboitiz Power said in an e-mailed statement.
DMCI Holdings Inc. (DMC) , the nation’s largest builder, added 2 percent to 43.45 pesos, the highest close since Aug. 4. The company’s energy unit may bid to supply power in selected small grids, a stock exchange filing showed.
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