Philippine Stocks: MacroAsia, Racing Club, Rizal, Semirara
Shares of the following companies had unusual price changes in Philippine trading. Stock symbols are in parentheses, and prices are as of the noon close in Manila.
The Philippine Stock Exchange Index rose 0.7 percent to 3,926.86, the highest close since Jan. 28.
MacroAsia Corp. (MAC) , a provider of in-flight catering services, jumped 7.3 percent to 3.38 pesos, the biggest gain since Oct. 8. The company bought back 45,000 of its own shares at 3.05 pesos each, a stock exchange filing showed.
Philippine Racing Club (PRC) Inc, a horse racetrack operator, increased 7.2 percent to 5.79 pesos, the most since Feb. 18. Sta. Lucia Land Inc. (SLI PM) said it bought a 12.09 percent stake in the company for 298 million pesos. Sta. Lucia gained 1.7 percent to 1.17 pesos, the most since Feb. 25.
Rizal Commercial Banking Corp. (RCB) increased 3.2 percent to 27.50 pesos, the sharpest gain since Feb. 2. The Philippine central bank approved the lender’s plan to sell 73.45 million shares to International Finance Corp., a stock exchange filing showed. Rizal Bank didn’t state the price of the sale.
Semirara Mining Corp. (SCC) , the largest coal producer, advanced 3.6 percent to 222 pesos, the highest close based on prices going back to March 1999. Semirara confirmed a report that its owner is in talks with a Chinese group for a nickel smelting plant venture that will be located in the economic zone it’s building.
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