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: Asian Terminals, Megaworld, Manila Electric

Don't Miss Out —
Follow us on:

June 29 (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 fell 0.2 percent to 5,246.41. The measure gained 2.7 percent this quarter, the best-performing benchmark index in Asia, extending this year’s advance to 20 percent.

Builders: Megaworld Corp. (MEG PM), a developer of residential and office towers, climbed 1.9 percent to 2.19 pesos, the highest close since May 9 on prospects of rising property demand. Global-Estate Resorts Inc. (GERI PM) increased 2.3 percent to 1.80 pesos, the highest close since June 1. Real estate loans of Philippines banks climbed to a record 538.1 billion pesos ($12.8 billion) in the first quarter, the central bank said in a statement.

Asian Terminals Inc. (ATI PM), a port operator, sank 16 percent to 9 pesos, the sharpest loss since December 2001. President Eusebio Tanco said the company isn’t for sale and is looking at expansion opportunities. Tanco made the statement yesterday after ManilaStandardToday reported that San Miguel Corp. is in talks to buy the company. The stock jumped 22 percent to a record yesterday.

Manila Electric Co. (MER PM), the nation’s biggest power retailer, gained 1 percent to 253.40 pesos, completing a seven-day rally. It’s the stock’s longest winning streak since February 2009. The Energy Regulatory Commission allowed the utility to raise its rates for the period starting July 1 to June 30, 2013, a stock exchange filing showed.

Oriental Peninsula Resources Group Inc. (ORE PM) advanced 4.4 percent to 5.45 pesos, the highest close since May 29. The company will invest $10 million to build a plant that will produce semi-processed metals, Philippine Daily Inquirer reported, citing Chairman Caroline Tanchay.

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.