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: Bank of Philippine Islands, Lepanto, Metro

March 22 (Bloomberg) -- 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 0.1 percent to 5,043.52, its first gain in four days.

Bank of the Philippine Islands (BPI PM), the nation’s biggest bank by market value, increased 2.7 percent to 75.45 pesos, the steepest advance since March 13. The bank’s lending grew 16 percent in the first two months of the year, compared with a 12 percent forecast in the near term, a stock exchange filing showed in response to a Philippine Daily Inquirer report.

Lepanto Consolidated Mining Co.’s Class B shares (LCB PM), which have no ownership restrictions, jumped 6.5 percent to 1.63 pesos, the most since Nov. 22. Its Class A shares (LC PM), which are reserved for Filipinos, gained 5.6 percent to 1.52 pesos.

Gold Fields Ltd. said it completed the purchase of a 40 percent stake in the company’s Far Southeast project. Gold Fields also plans to buy an additional 20 percent in the project from Lepanto and expects to complete this purchase in the second half of the year, it said in a statement.

Metro Pacific Investments Corp. (MPI PM) rose 4.2 percent to 4.18 pesos, the largest increase since March 15. A toll-road project that the government plans to open for bidding may receive funding from investors of a casino complex being built in Manila, ABS-CBN News reported, citing Public Works Secretary Rogelio Singson. The toll road is one of the state projects that Metro Pacific plans to bid for, the company said in January. Metro Pacific President Jose Lim couldn’t be reached in his office for comment.

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.