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Philippine Stocks: International Container, Nickel Asia, Swift

Aug. 1 (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 1 percent to 4,550.53, an all-time high.

Bank of the Philippine Islands (BPI PM), the nation’s largest bank by market value, added 2.2 percent to 61 pesos, the highest close since Nov. 4, after the lender said it posted an 18 percent gain in second-quarter net income.

International Container Terminal Services Inc. (ICT PM), the largest Philippine port operator, advanced 2.8 percent to 56 pesos, the sharpest gain since July 15. International Container is withdrawing its bid for Singapore’s Portek International Ltd. after a rival offer by Mitsui & Co. became unconditional, the Manila-based company said in a statement to the Singapore stock exchange.

Leisure & Resorts World Corp. (LR PM) rallied 3 percent to 10.38 pesos, the steepest climb since July 13. The company said it got approval from shareholders to act as “surety” for a 2 billion-peso ($47.6 million) loan a unit will obtain for a casino project.

Nickel Asia Corp. (NIKL PM), the nation’s largest producer of the metal, gained 4.4 percent to 21.50 pesos, the steepest increase since April 11. First-half profit jumped 149 percent from a year earlier to 1.73 billion pesos, a stock exchange filing showed.

Swift Foods Inc. (SFI PM), a Philippine poultry raiser, sank 14 percent to 18.40 centavos, the lowest close since July 20. The company will “rest” two farms to eradicate Newscastle’s disease within the facilities, a stock exchange filing showed.

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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