Philippine Stocks: Active Alliance, Ayala, BDO Bank, Geograce

Shares of the following companies had unusual moves in Philippine trading. Stock symbols are in parentheses and prices are as of the close of trading in Manila.

The Philippine Stock Exchange Index fell 0.5 percent to 4,775.93, the first loss in three days.

Banks: BDO Unibank Inc. (BDO PM), the nation’s biggest bank by assets, rose 1.9 percent to 64.35 pesos, the highest close since Aug. 1. Philippine National Bank (PNB PM) gained 2.9 percent to 63.80 pesos, the sharpest gain since Jan. 17.

Changes in reserve-requirement rules won’t adversely affect banks, central bank Governor Amando Tetangco said today. The nation’s lenders may see their credit ratings hurt as a move by the Bangko Sentral ng Pilipinas to scrap interest rates on reserves will reduce net interest margins, ABS-CBN News reported on its website, citing Moody’s Investors Service.

Active Alliance Inc. (AAI PM) sank 22 percent to 38.50 pesos, the most since Nov. 25. The stock resumed trading today after a week-long suspension. The stock jumped 16 percent on Feb. 6 before it was halted to comply with the exchange’s disclosure rules in relation to its takeover and expansion into a hotel and casino venture, the stock exchange said in a notice. The company said before its suspension it will raise 9.2 billion pesos for acquisition through the sale of shares at 1 peso each.

Ayala Corp. (AC PM), owner of the nation’s biggest developer, fell 2.3 percent to 390, the steepest drop since Nov. 10. Credit Suisse Group AG lowered the stock’s rating to “neutral” on valuations.

Geograce Resources Philippines Inc. (GEO PM) increased 6.6 percent to 1.13 pesos, the highest close since June 2008, on speculation investor interest in nickel companies will pick up after Macquarie Bank Ltd. agreed to buy shares in NiHAO Mineral Resources International Inc. (NI PM). NiHAO, which agreed to sell 150 million shares to Macquarie for as much as $30 million, gained 4.3 percent to 12.08 pesos, the highest close since it began trading in March 1996.

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