Bloomberg News

Philippine Stocks: Ayala, Digital, JG, Philippine Telephone

October 25, 2011

Oct. 25 (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 1 percent to 4,242.52.

Ayala Corp. (AC PM), owner of the nation’s biggest developer, advanced 1.5 percent to 298.40 pesos, the sharpest gain since Oct. 17. The company bought back 44,000 shares, a stock-exchange filing showed.

Philippine Long Distance Telephone Co. (TEL PM), the nation’s biggest phone company, increased 1.8 percent to 2,306 pesos, its sixth day of gains. The National Telecommunications Commission may issue this week its decision on Philippine Long Distance’s purchase of Digital Telecommunications Philippines Inc. (DGTL PM), BusinessWorld reported, citing Gamaliel Cordoba, head of the regulatory agency. Cordoba couldn’t be reached at his office for comment. Digital gained 1.3 percent to 1.53 pesos, the highest since Oct. 11. JG Summit Holdings Inc. (JGS PM), owner of Digital Telecom, advanced 3.7 percent to 25.25 pesos, the highest since Aug. 5.

--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: Darren Boey at dboey@bloomberg.net


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