Bloomberg News

Philippine Stocks: First Philippine, Philippine Long Distance

November 04, 2011

Nov. 4 (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 climbed 1.5 percent to 4,271.72, the first gain in three days, trimming a weekly decline to 1.4 percent.

Boulevard Holdings Inc. (BHI PM), a property developer and resort operator, rose 1.4 percent to 21.60 centavos, the highest close this week. The company said it will buy properties in the Philippine tourist destinations of Cebu and Boracay.

First Philippine Holdings Corp. (FPH PM), which has investments in power generation, increased 1.9 percent to 54 pesos, the sharpest gain since Sept. 28. The company’s board of directors approved a dividend of 1 peso a share, according to a statement to the stock exchange.

Philippine Long Distance Telephone Co. (TEL PM), the nation’s biggest phone company, increased 1.2 percent to 2,360 pesos, snapping a two-day slump. The company plans to delist Digital Telecommunications Philippines Inc., the Business Mirror reported, citing Chairman Manuel V. Pangilinan. Pangilinan couldn’t be reached for comment at his office.

--Editor: Matthew Oakley

To contact the reporters on this story: Weiyi Lim in Singapore at wlim26@bloomberg.net; 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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