Philippine Stocks: ISM Communications, San Miguel, Sta. Lucia
Shares of the following companies had unusual moves in Philippine trading. Stock symbols are in parentheses and prices are as of 10:01 a.m. in Manila.
The Philippine Stock Exchange Index increased 10.47, or 0.3 percent, to 4,181.04. The measure has advanced 0.7 percent this week, its fourth straight weekly gain.
ISM Communications Corp. (ISM) jumped 13 percent to 3.84 pesos, heading for the sharpest gain since July 28. The company said it signed an agreement to sell 37.7 percent of Eastern Telecommunications Philippines Inc. for 1.51 billion pesos ($35 million) to San Miguel Corp. (SMC) . San Miguel rose 0.4 percent to 111 pesos.
Sta. Lucia Land Inc. (SLI PM) climbed 1.4 percent to 75 centavos after the company said it entered into a joint venture with Revlon Realty Group Inc. to develop two parcels of land.
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