Bloomberg News

Philippine Stocks: Asia Cement, Holcim Philippines, Nickel Asia

December 20, 2011

Dec. 20 (Bloomberg) -- Shares of the following companies had unusual moves in Philippine trading. Stock symbols are in parentheses and prices are as of 11:52 a.m.

The Philippine Stock Exchange Index rose 0.3 percent to 4,332.

Cement-makers: Holcim Philippines Inc. (HLCM PM), the nation’s biggest producer of cement, advanced 5.8 percent to 8.78 pesos, set for the sharpest gain since Nov. 17 on prospect demand for the building material will be boosted by reconstruction in areas hit by Tropical Storm Washi. Southeast Asia Cement Holdings Inc. (CMT PM) rose 2.7 percent to 1.51 pesos, heading for the highest close since Aug. 16.

“Rebuilding and repairing the affected areas will benefit cement and construction companies,” said Astro del Castillo, managing director at First Grade Finance Inc.

Nickel Asia Corp. (NIKL PM), the largest Philippine producer of the metal, fell 1.9 percent to 20.50 pesos, set for the sharpest loss since Nov. 24. Nickel for delivery in three months decreased 0.2 percent as of 11:33 a.m., extending a 0.9 percent loss yesterday.

--Editor: Richard Frost

To contact the reporter on this story: Ian 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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