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Cebu Air, JG Summit, Manila Electric: Philippine Stocks Preview

Jan. 17 (Bloomberg) -- Shares of the following companies may have unusual price changes in Philippine trading. Stock symbols are in parentheses, and share prices are as of 12 p.m. in Manila on Jan. 14.

The Philippine Stock Exchange Index increased 1.5 percent to 4,132.04.

Cebu Air Inc. (CEB PM): The largest budget carrier’s owner JG Summit Holdings Inc. (JGS PM) bought 280,000 shares in the airline in the open market, a stock exchange filing showed. Cebu Air declined 1.1 percent to 99.65 pesos. JG Summit rose 0.9 percent to 19 pesos.

Manila Electric Co. (MER PM): The largest Philippine power retailer was lowered to “sell” from “hold’ by Edser Trinidad, an analyst at Philippine Equity Partners Inc. The stock sank 5 percent to 267.40 pesos.

Robinsons Land Corp. (RLC PM): The second-largest Philippine shopping mall operator said it offered “a significant bid” to develop the government’s food terminal complex. The stock rose 3.5 percent to 14.80 pesos.

To contact the reporter on this story: Ian C. 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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