Philippine Stock Movers: First Philippine, Metro, Puregold Price
The Philippine Stock Exchange Index (PCOMP) rose 0.5 percent to 4,952.74. The gauge has declined 4.8 percent this month, poised for its first drop since November.
First Philippine Holdings Corp. (FPH) advanced 4.3 percent to 70 pesos, the highest close since Oct. 8, 2010. The company has invested an additional 1.8 billion pesos ($41 million) in its unit First Gen Corp. (FGEN) , a stock-exchange filing showed.
Metro Pacific Investments Corp. (MPI) increased 1.3 percent to 4.05 pesos, the highest close since May 17. The company main invite overseas partners if it wins the contract to extend the LRT-1 project, President Jose Lim said. Talks to sell a stake in Maynilad Water Services Inc. to Marubeni Corp. is progressing well, he also said.
Puregold Price Club Inc. (PGOLD) , the nation’s second- biggest operator of hypermarkets and supermarkets, increased 3.6 percent to 22.75 pesos, the highest close since May 14. The company has acquired Gant Group of Companies Inc., operator of 19 Parco Supermarket branches, a stock-exchange filing showed.
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