Bloomberg News

Philippine Stocks: AGP, Banco de Oro, JG Summit, NiHAO Mineral

October 10, 2011

Oct. 10 (Bloomberg) -- Shares of the following companies had unusual moves in Philippine trading. Stock symbols are in parentheses and prices are as of the close in Manila.

The Philippine Stock Exchange Index increased 0.8 percent to 4,040.58, the highest close since Sept. 22.

AGP Industrial Corp. (AGP PM) climbed 6.9 percent to 29.50 pesos, the highest since Sept. 22, after the company said it’s in the “advanced” stages of evaluating mining projects that will be part of a partnership with Glencore International AG and NiHAO Mineral Resources International Inc. (NI PM). NiHAO increased 1.2 percent to 3.45 pesos.

Banco de Oro Unibank Inc. (BDO PM), the nation’s largest bank by assets, advanced for a fourth day, increasing 2.3 percent to 52.15 pesos, the highest close since Sept. 22. The bank said it completed the sale of 6.5 billion pesos ($150 million) of so-called unsecured subordinated notes to boost capital.

JG Summit Holdings Inc. (JGS PM) increased 6.4 percent to 23.40 pesos, the sharpest gain since March 28. The company’s naphtha plant will be commissioned in the middle of 2013, earlier than planned, BusinessWorld reported, citing Elsie David, manager at JG Summit Petrochemical Corp. JG Summit President Lance Gokongwei couldn’t be reached at his office for comment.

--Editor: Matthew Oakley

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

To contact the editor responsible for this story: Shiyin Chen at schen37@bloomberg.net


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