Philippine Stock Movers: Calata, Nickel Asia, SM Investments
The Philippine Stock Exchange Index (PCOMP) rose 1.6 percent to 5,075.85, the sharpest gain since May 17. The nation’s financial markets will be shut tomorrow for a holiday.
Boulevard Holdings Inc. (BHI) , a resort operator, increased 4.2 percent to 15 centavos, the sharpest gain since April 27, snapping a five-day retreat. The company expects sales to rebound after falling 12 percent in the fiscal year ended May 31 from a year earlier as tourist arrivals from Europe decreased, a stock-exchange filing showed.
Calata Corp. (CAL) advanced 6.5 percent to 13.20 pesos, the highest close since June 4. The company said it signed an agreement to exclusively supply National Agribusiness Corp. with corn. The agreement will “further augment its rapidly increasing corporate revenue stream,” the company said.
Nickel Asia Corp. (NIKL) , the nation’s biggest producer of the metal, increased 5.3 percent to 31.60 pesos, the sharpest gain since April 25. The company said its shareholders approved a 50 percent stock dividend. A nickel venture with Sumitomo Corp. will start operations in the fourth quarter of 2013, President Gerard Brimo said on June 8.
SM Investments Corp. (SM) , holding company of billionaire Henry Sy, increased 2.2 percent to 700 pesos, the highest close this month. The company has set aside 5 billion pesos ($116 million) to build two hotels under the Luxury brand, the Philippine Star reported, citing documents filed with the Securities & Exchange Commission. Chief Financial Officer Jose Sio couldn’t be reached at his office for comment. The company said it got approval from the SEC to sell 10 billion pesos of bonds, with room for an additional 5 billion pesos, a stock- exchange filing showed.
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