Bloomberg News

Philippine Stocks: Banco de Oro, DMCI, International Container

September 30, 2011

Sept. 30 (Bloomberg) -- Shares of the following companies had unusual moves in Philippine trading. Stock symbols are in parentheses and prices are as of the noon close in Manila.

The Philippine Stock Exchange Index rose 122.02 points, or 3.2 percent, to 3,999.65, its third day of gains. The gauge dropped 6.8 percent this quarter, the biggest drop since the three months ended December 2008.

Banco de Oro Unibank Inc. (BDO PM), the largest Philippine bank by assets, climbed 4.3 percent to 51 pesos, the largest gain since Aug. 10. The bank said it sold about 6.5 billion pesos ($149 million) of so-called lower tier-2 notes to boost capital.

DMCI Holdings Inc. (DMC PM) rose 1.2 percent to 34.70 pesos, leading an advance among infrastructure-related stocks, after the government said it will set up 22.5 billion pesos in “counterpart” funding for projects.

International Container Terminal Services Inc. (ICT PM), the largest Philippine port operator, advanced 3.4 percent to 46.80 pesos, the biggest gain since Aug. 16. ICTSI Warehousing Inc., a unit of the largest Philippine port operator, bought about 1.6 million shares in the open market, a stock-exchange filing showed.

--With assistance from Chan Tien Hin in Kuala Lumpur. Editor: Matthew Oakley

To contact the reporter on this story: Ian Sayson in Manila at isayson@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net


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