Philippine Equity Movers: GT Capital Rises, LT Group Declines
Philippine Stock Exchange Index (PCOMP) -0.2% at close in Manila, its first loss in 4 days; 15 stocks gain, 13 fall; MSCI Asia-Pacific Index +0.2%.
ADVANCER: * GT Capital (GTCAP PM) +3.3% to highest since April 20, 2012; Stk is among holding cos. held by Metropolitan Bank, which expects the index to climb to 7,000 by year-end, according to Allan Yu, the lender’s chief investment officer
DECLINER: * LT Group (LTG) -2.8% to lowest close since Aug. 28; vol. ~240% of 3-mo. daily avg; stk down for 9th day, longest losing run since April 1994; “Some investors are expecting co. will report disappointing 3Q earnings,” Astro del Castillo, managing director at First Grade Holdings, says; “co. is losing market share in liquor while its cigarette business is hit by cheaper and smuggled brands”
To contact the reporter on this story: Ian Sayson in Manila at firstname.lastname@example.org