Philippine Equity Movers: Benguet, Philippine Long Distance, PNB
The Philippine Stock Exchange Index (PCOMP) fell 0.3 percent to 5,029.63.
Benguet Corp. Class B shares (BCB PM), which have no restrictions, rose 4.7 percent to 26.75 pesos, the sharpest gain since Nov. 3. Its Class A shares (BC PM), which are reserved for Filipinos, climbed 1.2 percent to 26.30 pesos, the highest close since March 1.
The mining company said 2011 operating income more than tripled to 262 million pesos ($6.1 million) and that it plans to settle all its debts this year.
Philippine Long Distance Telephone Co. (TEL) , the nation’s biggest phone company, increased 2.6 percent to 2,668 pesos, the most since Feb. 17. The company added 1.3 million customers in 2011, increasing its subscribers to 65 million, BusinessMirror reported, citing a company statement. President Napoleon Nazareno couldn’t be reached in his office for comment.
Philippine National Bank (PNB) advanced 0.5 percent to 70.15 pesos, snapping a five-day, 4.2 percent slump. The lender said its net income increased 45 percent last year to 3.86 billion pesos.
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