Bloomberg News

Philippine Stocks: Ayala Land, Metro Pacific, PetroEnergy

February 20, 2012

Feb. 20 (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 1.3 percent to 4,943.84, a record high.

Ayala Land Inc. (ALI PM), the nation’s biggest builder, increased 4.9 percent to 21.50 pesos, the highest close based on prices going back to March 1992. President Antonino Aquino said on the ABS-CBN News Channel that sales volume in January was “tracking largely” the growth recorded last year. Ayala Corp. (AC PM), owner of Ayala Land, climbed 1.5 percent to 404 pesos, the highest close since December 2007.

Metro Pacific Investments Corp. (MPI PM), which has investments in water and toll roads, gained 1.1 percent to 3.61 pesos, the highest close since Jan. 20. The company is hoping to enter a partnership with the 300-bed Capitol Medical Center Inc., the Philippine Star reported, citing Augusto Palisoc, head of Metro Pacific’s hospital division. Metro Pacific President Jose Lim couldn’t be reached for comment in his office.

PetroEnergy Resources Corp. (PERC PM), an explorer and developer of gas and petroleum assets, advanced 1.6 percent to 6.20 pesos, the highest close since Feb. 9. The company said a geothermal project’s development site is 85 percent completed, while a wind venture has met one of the requirements for it to be declared commercially viable.

--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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