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DMCI, Manila Electric, Sta. Lucia: Philippine Stocks Preview

Feb. 8 (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 yesterday, unless otherwise stated.

The Philippine Stock Exchange Index rose 0.2 percent to 3,880.03.

DMCI Holdings Inc. (DMC PM): The company’s so-called reservation sales, or transactions where buyers have made initial payments, has reached 14.7 billion pesos ($338 million). The stock decreased 0.8 percent to 32.85 pesos.

Manila Electric Co. (MER PM): The Philippines’ largest power retailer said it will spend 45 billion pesos from 2012 to 2015 to expand its network. The company said sales last year rose 10 percent, its highest growth rate in 13 years. The stock gained 3 percent to 228.60 pesos.

Sta. Lucia Land Inc. (SLI PM): The Philippine homebuilder said it plans to invest 11 billion pesos in new housing and commercial projects in the next five years. The stock rose 3.6 percent to 1.45 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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