Bloomberg News

Philippine Stocks: ISM Communications, San Miguel, Solid Group

October 21, 2011

Oct. 21 (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 decreased 0.1 percent to 4,166.60. The measure has advanced 0.3 percent this week, its fourth straight weekly gain.

ISM Communications Corp. (ISM PM) jumped 12 percent to 3.80 pesos, the sharpest gain since July 28. The company said it signed an agreement to sell 37.7 percent of Eastern Telecommunications Philippines Inc. for 1.51 billion pesos ($35 million) to San Miguel Corp. (SMC PM). San Miguel rose 1.7 percent to 112.50 pesos, the steepest advance since Sept. 30.

Solid Group Inc. (SGI PM), a manufacturer and wholesaler of consumer electronic products, declined 2.6 percent to 1.13 pesos, the lowest close since Oct. 12. The company said it has no joint venture with China’s Yahgee Modular House Ltd., clarifying a Philippine Star report.

--Editor: Darren Boey

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

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


Race, Class, and the Future of Ferguson
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus