July 5 (Bloomberg) -- Shares of the following companies had unusual moves in Philippine trading. Stock symbols are in parentheses and prices are as of the noon close in Manila.
The Philippine Stock Exchange Index rose 0.4 percent to 4,439.61, a record close.
International Container Terminal Services Inc. (ICT PM), the largest Philippine port operator, increased 0.9 percent to 53.90 pesos, the highest level since May 17. Joseph Higdon, a company director, bought 30,000 shares, according to a stock-exchange filing.
Universal Robina Corp. (URC PM), the largest Philippine maker of snackfoods including corn chips, climbed 3.5 percent to 44.50 pesos, the highest level since Nov. 9 on speculation margins will improve as commodity prices decline.
“Some investors expect earnings will get a boost with the decline in prices of corn,” said Ron Rodrigo, head of research at DBP-Daiwa SB Capital Markets in Manila. Corn fell to $5.755 a bushel on July 1, the lowest price since December, and traded at $6.03 a bushel today.
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