Philippine Stocks: Digital Telecom, JG Summit, Vantage Equities
Shares of the following 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 0.1 percent to 3,844.31.
Digital Telecommunications Philippines Inc. (DGTL PM), a provider of mobile phone services, climbed 7.6 percent to 1.42 pesos, the sharpest gain since Sept. 24. The company’s profit increased to 429.6 million pesos ($9.86 million) last year from 259.7 million pesos in 2009, parent JG Summit Holdings Inc. (JGS) said March 18 in a stock exchange filing.
JG Summit Holdings Inc. (JGS PM), owner of the largest Philippine budget carrier, increased 1.7 percent to 20.80 pesos, the highest since Dec. 29. The company’s profit surged 91 percent to 16.32 billion pesos in 2010, a stock exchange filing showed March 18.
Vantage Equities Inc. (V) advanced 4.6 percent to 1.60 pesos, the highest since March 31, 2000. The company said it will purchase 25 million shares in Leisure & Resorts World Corp. (LR) , which will sell 150 million shares in a so-called “private placement” at 7.50 pesos each. Leisure, which will operate a casino along Manila Bay, fell 0.7 percent to 8.23 pesos, snapping a three-day, 13 percent rally. Pacific Online Systems Corp. (LOTO) (LOTO), which said it will buy 25 million shares in Leisure, increased 1.2 percent to 17.20 pesos.
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