Bloomberg News

Philippine Stocks: Atlas Mining, Digital, JG Summit, PLDT

October 27, 2011

Oct. 27 (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 rose 1 percent to 4,267.50, the highest level since Sept. 19.

Mining companies: Atlas Consolidated Mining & Development Corp. (AT PM) advanced 3.7 percent to 18.66 pesos, the highest close since Sept. 21. Manila Mining Corp. Class A shares (MA PM), which are reserved for Filipinos, climbed 3.2 percent to 6.4 centavos.

Copper on the London Metal Exchange rallied as much as 2.3 percent to $7,855.75 a metric ton and last traded at $7,840, bound for the highest close since Sept. 21.

Philippine Long Distance Telephone Co. (TEL PM), the nation’s largest phone company and also known as PLDT, jumped 2.5 percent to 2,388 pesos, an eighth day of gains. The telecoms regulator approved PLDT’s purchase of smaller rival Digital Telecommunications Philippines Inc. (DGTL PM) with conditions, including selling mobile-phone spectrum to ensure competition.

Digital Telecom rose 2.6 percent to 1.58 pesos, the highest close since May 3. JG Summit Holdings Inc. (JGS PM), former parent of Digital, declined 2.7 percent to 25 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: Darren Boey at dboey@bloomberg.net


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