Bloomberg News

Philippine Stocks: Banco de Oro, Nickel Asia, PLDT, Rizal Bank

October 26, 2011

Oct. 26 (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 0.4 percent to 4,224.76, the sharpest loss since Oct. 20.

Banks: Banco de Oro Unibank Inc. (BDO PM), the nation’s biggest bank by assets, decreased 1.8 percent to 52.40 pesos, its first loss in three days, on speculation borrowing costs may fall after central bank Governor Amando Tetangco said Asia’s emerging economies may lower rates as inflation slows. Rizal Commercial Banking Corp. (RCB PM) sank 1 percent to 30.80 pesos, the sharpest loss since Oct. 18.

Nickel Asia Corp. (NIKL PM), the nation’s biggest producer of the metal, climbed 1.2 percent to 19.14 pesos, the steepest gain since Oct. 18. The company’s nine-month profit more than doubled from a year earlier to 3.26 billion pesos ($75.4 million), a stock-exchange filing showed.

Philippine Long Distance Telephone Co. (TEL PM), the nation’s biggest phone company, advanced for the seventh day, the longest rally since September 2010, rising 1 percent to 2,330 pesos. The company said it’s arranging the sale of 5 billion pesos of bonds for expansion and debt repayment.

--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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