Philippine Stocks: International Container, IP Data

Shares of the following companies had unusual moves in Philippine (PASHR) trading. Stock symbols are in parentheses and prices are as of 10:57 a.m. in Manila.

The Philippine Stock Exchange Index (PCOMP) fell 0.1 percent to 5,046.46.

International Container Terminal Services Inc. (ICT) , the nation’s biggest port operator, increased 1,2 percent to 73.40 pesos, extending yesterday’s 6.6 percent surge. The Philippine Port Authority has ordered a 15 percent increase in tariffs for foreign containerized and non-containerized cargo in South Harbor and Manila International Container Terminal, a stock exchange filing showed.

IP Converge Data Center Inc. (CLOUD) , which offers managed data services and business solutions, sank 9.5 percent to 3.25 pesos, heading for the sharpest loss since Feb. 17. 8990 Group has agreed to acquire 79.5 percent of IP Converge and will offer to buy the rest of the company at 95.24 centavos a share, a stock exchange filing showed.

To contact the reporter on this story: Ian Sayson in Manila at isayson@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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