Philippine Equity Movers: Asian Terminals, Ayala, GMA Network
The Philippine Stock Exchange Index (PCOMP) fell less than 0.1 percent to 5,256.15, snapping a four-day gain. The measure has climbed 2.9 percent this quarter, the best-performing benchmark index in Asia, extending this year’s advance to 20 percent.
Asian Terminals Inc. (ATI) , a port operator, increased 22 percent to 10.68 pesos. Asian Terminals isn’t for sale, President Eusebio Tanco said in a statement after a ManilaStandardToday report said San Miguel Corp. (SMC) is in talks to buy the company.
Ayala Land Inc. (ALI) , the largest Philippine developer, climbed 1.2 percent to 21.50 pesos, the first gain in six days. The company sees sustained demand, and all indicators are positive for the second quarter, President Antonino Aquino said in a briefing.
GMA Network Inc. (GMA7) (GMA7 PM) advanced 4.1 percent to 10.62 pesos, the highest close since August 2007. The Philippine Star reported Philippine Long Distance Telephone Co. (TEL) Chairman Manuel Pangilinan plans to make an all-cash purchase of the broadcaster. Pangilinan didn’t immediately reply to mobile- phone messages seeking comment. Philippine Long Distance decreased 1 percent to 2,688 pesos, snapping a 15 percent, nine- day rally.
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