Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Philippine Stocks: Bloomberry, Jollibee Foods, Nickel Asia

Don't Miss Out —
Follow us on:

March 21 (Bloomberg) -- 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 for a third day, dropping 1.3 percent to 5,037.94. It’s the measure’s sharpest loss since March 6.

Bloomberry Resorts Corp. (BLOOM PM) rose 1.4 percent to 35.50 pesos, snapping its worst two-day loss in a month. Major infrastructure work has been completed at its casino-hotel resort complex in Manila, the company said in a statement.

Jollibee Foods Corp. (JFC PM), the nation’s biggest restaurant operator, increased 2.8 percent to 119.20 pesos, the first gain in three days. The company is on the “lookout” for acquisitions at home and overseas, Chief Executive Officer Tony Tan Caktiong said. The company may set capital spending this year at four billion pesos ($93 million) to five billion pesos, he said.

Nickel Asia Corp. (NIKL PM), the largest Philippine producer of the metal, rose 11 percent to 28.30 pesos, the highest close since the stock began trading in November 2010. The shares climbed on speculation the company will benefit from Indonesia’s move to implement a ban on nickel-ore sales sooner than planned to boost output of refined nickel, according to CitisecOnline.com. “Philippine nickel ore companies will benefit most from this export ban,” George Ching, analyst at Citisec, said. “Among listed companies, Nickel Asia will be the main beneficiary because it’s a pure play on nickel.”

To contact the reporter on this story: Ian Sayson in Manila at isayson@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.