The Philippine Stock Exchange Index (PCOMP) rose 1.3 percent to 4,943.84, a record high.
Ayala Land Inc. (ALI) , the nation’s biggest builder, increased 4.9 percent to 21.50 pesos, the highest close based on prices going back to March 1992. President Antonino Aquino said on the ABS-CBN News Channel that sales volume in January was “tracking largely” the growth recorded last year. Ayala Corp. (AC) , owner of Ayala Land, climbed 1.5 percent to 404 pesos, the highest close since December 2007.
Metro Pacific Investments Corp. (MPI) , which has investments in water and toll roads, gained 1.1 percent to 3.61 pesos, the highest close since Jan. 20. The company is hoping to enter a partnership with the 300-bed Capitol Medical Center Inc., the Philippine (PASHR) Star reported, citing Augusto Palisoc, head of Metro Pacific’s hospital division. Metro Pacific President Jose Lim couldn’t be reached for comment in his office.
PetroEnergy Resources Corp. (PERC) , an explorer and developer of gas and petroleum assets, advanced 1.6 percent to 6.20 pesos, the highest close since Feb. 9. The company said a geothermal project’s development site is 85 percent completed, while a wind venture has met one of the requirements for it to be declared commercially viable.
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