Shares of the following companies may have unusual moves in Philippine trading. Stock symbols are in parentheses and prices are as of the previous close, unless stated otherwise.
The Philippine Stock Exchange Index rose 0.3 percent to 4,387.06.
Abacus Consolidated Resources & Holdings Inc. (ABA PM): The company will have a “banner year” in 2012 based on the revenue prospects of its mining and property projects, a stock exchange filing showed, citing President Leonardo Gayao. The stock was unchanged at 91 centavos.
Metro Pacific Tollways Corp. (TOL PM): The nation’s biggest toll-road operator said a subsidiary obtained a one billion peso loan to fund its 2012 expansion, a stock exchange filing showed. The stock advanced 3.8 percent to 8.30 pesos. Metro Pacific Investments Corp. (MPI), parent of Metro Pacific Tollways, rose 1.3 percent to 3.62 pesos.
PAL Holdings Inc. (PAL PM): Philippine Airlines Inc., the nation’s largest carrier and a unit of the company, stopped direct flights to New Delhi due to weak demand and will instead divert the flights first to Bangkok so it can pick up passengers before proceeding to India’s capital, Philippine Daily Inquirer reported, citing Philippine Air President Jaime Bautista. The stock rose 0.7 percent to 6.02 pesos.
San Miguel Corp. (SMC PM): The largest Philippine food and drinks company will hold on to the shares in Rockwell Land Corp. that it will get as dividends, BusinessWorld reported, citing San Miguel Vice Chairman Ramon Ang. The stock increased 0.8 percent to 117.90 pesos.