Shares of the following companies had unusual price changes in Philippine trading. Stock symbols are in parentheses, and share prices are as of the 12 p.m. close in Manila.
The Philippine Stock Exchange Index fell 0.1 percent to 3,888.55.
Alcorn Gold Resources Corp. (APM PM), a minerals explorer, increased 5.9 percent to 1.8 centavos, the highest since Jan. 20. The company signed separate agreements with Bentley Fairview Resources Corp. and Pembleton Minerals Corp. to explore properties in the provinces of Albay and Benguet, a stock exchange filing showed.
PAL Holdings Inc. (PAL PM), owner of the largest Philippine airline, declined 1.8 percent to 5.50 pesos, after sinking as much a 5.7 percent earlier today. Jet kerosene rose 1.6 percent to $116.65 a barrel yesterday in Singapore trading, the highest since September 2008. Fuel accounts for 40 percent of the total expenses of Philippine Airlines Inc., the company’s unit.
San Miguel Corp. (SMC PM), the largest food and drinks manufacturer, jumped 6.4 percent to 179.20 pesos, the highest since Jan. 17. The company may bid for coal exploration contracts to be auctioned by the government, President Ramon Ang said. The company separately said today that it may venture into an airport terminal project north of Manila and that its energy unit completed the sale of $300 million of bonds.