Bloomberg News

Philippine Stocks: Ayala Corp., Globe Telecom, Security Bank

November 09, 2011

Nov. 9 (Bloomberg) -- Shares of the following companies had unusual moves in Philippine trading. Stock symbols are in parentheses and prices are as of 11:38 a.m. in Manila.

The Philippine Stock Exchange Index increased less than 0.1 percent to 4,315.26.

Ayala Corp. (AC PM) added 2.4 percent to 297 pesos, heading for the sharpest gain since Oct. 17, on speculation earnings will rise after venture Globe Telecom Inc. (GLO PM) posted a gain in third-quarter profit and said it will cut operating costs and capital spending. Globe advanced 1.2 percent to 952 pesos, set for the highest close since Aug. 5.

Security Bank Corp. (SECB PM) climbed 3.2 percent to 92.25 pesos, poised for the highest close since Sept. 5. The company’s nine-month profit increased 21 percent to 4 billion ($93 million), a stock exchange filing showed.

--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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