Philippine Equity Movers: BDO Unibank, DMCI, Filinvest Land
The Philippine Stock Exchange Index (PCOMP) advanced for a second day, rising 0.8 percent to 4,966.58.
Atlas Consolidated Mining & Development Corp. (AT) increased 1.5 percent to 17.76 pesos, the sharpest gain since May 22. Carmen Copper Corp., a unit of the company, signed a 12- year agreement to buy electricity from Toledo Power Co., meeting power needs as it increases production to 60,000 metric tons of copper ore a day from 40,000 tons, a stock-exchange filing showed. Carmen Copper also signed an agreement to supply Toledo with coal, which will cut the mine’s power cost by 35 centavos a kilowatt hour, it said.
BDO Unibank Inc. (BDO) , the nation’s biggest bank by assets, rose 4.1 percent to 67.70 pesos, the sharpest gain since May 31. The bank yesterday set the price of its $1 billion one- for-three rights offer at 48.60 pesos a share.
DMCI Holdings Inc. (DMC) , the nation’s biggest construction company, advanced 2.6 percent to 55 pesos, the highest close since June 1 and the biggest percentage gain in the nation’s benchmark stock index. D.M. Consunji Inc., a unit of the company, is evaluating bid documents for a 60 billion- peso ($1.38 billion) contract to extend and manage Line 1 of the light-rail transit system in Manila, a stock-exchange filing showed.
Filinvest Land Inc. (FLI) added 1.6 percent to 1.25 pesos, the first gain in six days. The company raised 7 billion pesos after completing the sale of retail bonds.
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