Bloomberg News

Philippine Stocks: Belle, Manila Water, Megaworld, Sta. Lucia

November 29, 2011

Nov. 29 (Bloomberg) -- Shares of the following companies had unusual moves in Philippine trading. Stock symbols are in parentheses and prices are as of 11:06 a.m. in Manila.

The Philippine Stock Exchange Index increased 0.6 percent to 4,251.81.

Property Builders: Megaworld Corp. (MEG PM), a builder of residential and office towers, rose 1.7 percent to 1.80 pesos, ending a seven-day losing streak, after the government said it won’t allow “big adjustments” in borrowing costs and Filinvest Land Inc. President Joseph Yap forecast “steady growth” in the real-estate market. Sta. Lucia Land Inc. (SLI PM), a builder of homes, rose 2.7 percent to 76 centavos, the sharpest gain since Nov. 17. Belle Corp. (BEL PM) advanced 4.1 percent to 4.14 pesos.

Manila Water Co. (MWC PM) gained 1 percent to 19.40 pesos, the first increase in five days. The company said it completed the purchase of Clark Water Corp.

--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


Best LBO Ever
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus