Shares of the following companies had unusual moves in Philippine trading. Stock symbols are in parentheses and prices are as of the close in Manila.
The Philippine Stock Exchange Index rose 0.9 percent to 5,050.99, a record high.
Ayala Land Inc. (ALI PM), a property developer, increased 4.1 percent to 21.50 pesos, the sharpest gain since March 5. Jaime Augusto Zobel de Ayala, chief executive officer of parent Ayala Corp. (AC PM), said Ayala Land plans to build a record number of homes this year. Shares in the parent increased 0.5 percent to 415 pesos, the first gain in four days.
Cebu Air Inc. (CEB PM), the biggest Philippine budget carrier, sank 3.1 percent to 65.90 pesos, the sharpest loss since Feb. 27. The carrier posted a 47.6 percent decline in profit last year to 3.62 billion pesos ($84.5 million) amid higher fuel costs, a stock exchange filing showed.
First Gen Corp. (FGEN PM), a power producer, rose 3.4 percent to 13.90 pesos, the sharpest increase since Sept. 28 after it obtained approval from the Securities and Exchange Commission to boost its authorized capital stock and create preferred shares.
International Container Terminal Services Inc. (ICT PM), the largest Philippine port operator, climbed 1.7 percent to 58.15 pesos, the sharpest gain in Feb. 29. The company said it signed an agreement to negotiate for a sub-concession contract to develop and operate over a 20-year period a container terminal in the sea port of Ibeju-Lekki in Nigeria.
IPVG Corp. (IP PM) rose 1.6 percent to 1.30 pesos, the steepest increase since March 2. The company’s affiliate, Conqueror Space Ltd., signed a preliminary agreement with a Canadian-Chinese venture for the rights to build and operate mineral refineries in India, a stock exchange filing showed.
JG Summit Holdings Inc. (JGS PM), owner of the nation’s largest budget carrier, climbed 3.3 percent to 26.55 pesos, the highest close since Feb. 2. Profit rose 32 percent to 21.59 billion pesos last year, boosted by the sale of its stake in Digital Telecommunications Philippines Inc., an exchange filing showed.