Philippine Stocks: Filinvest, MacroAsia, Robinsons Land, SM
The Philippine Stock Exchange Index (PCOMP) advanced 0.7 percent to 4,956.19, halting a two-day decline.
Filinvest Development Corp. (FDC) rose 2.8 percent to 4.36 pesos, the highest close since Feb. 17, after the Philippine developer’s board approved the initial public offering of unit East West Banking Corp.
MacroAsia Corp. (MAC) shares jumped 2.8 percent to 2.90 pesos, the highest close since Jan. 4. The Manila-based provider of in-flight catering services declared a 6.5 centavo-a-share dividend, to be paid by May.
Robinsons Land Corp. (RLC) increased 2.5 percent to 15.78 pesos, the sharpest gain since Feb. 20. The builder owned by JG Summit Holdings Inc. (JGS) said it would spend 6 billion pesos ($140.9 million) to build 30 budget hotels in the next four to five years.
SM Investments Corp. (SM) climbed 1.6 percent to 635 pesos. The investment holding company of billionaire Henry Sy aims to boost profit by as much as 14 percent this year after net income climbed to a record in 2011, Investor Relations Officer Corazon Guidote said today.
To contact the reporter on this story: Norman P. Aquino in Manila at firstname.lastname@example.org
To contact the editor responsible for this story: Darren Boey at email@example.com