Bloomberg News

Philippine Stocks: Belle, DMCI, IPVG Corp., Semirara Mining

October 14, 2011

Oct. 14 (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 0.5 percent to 4,153.40, rounding off a 3.6 percent weekly advance. The measure rallied for a seventh day, the longest winning streak since September 2010.

Belle Corp. (BEL PM), which is building a casino in Manila, climbed 2.2 percent to 3.70 pesos. The stock rose as much as 5 percent today after a stock exchange filing showed Vice Chairman Willy Ocier bought 133,238 shares of the company.

IPVG Corp. (IP PM), the owner of a provider of online games, climbed 28 percent to 3.29 pesos, the highest close since August 2008, on speculation a company restructuring plan will “boost the value” of the stock, according to Astro del Castillo, managing director at First Grade Finance Inc. The stock jumped 50 percent yesterday, following a voluntary trading halt that started Sept. 29.

Semirara Mining Corp. (SCC PM), the nation’s largest local coal producer, rose 4 percent to 210 pesos, the highest close since Sept. 19. Deutsche Bank AG raised the stock’s rating to “buy” from “hold” with a 12-month share-price estimate of 225 pesos. DMCI Holdings Inc. (DMC PM), owner of Semirara, increased 1.5 percent to 37.65 pesos.

--Editor: Shiyin Chen

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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