Bloomberg News

Oriental Peninsula, Manila Water: Philippine Equity Preview

May 02, 2012

Shares of the following companies may have unusual moves in Philippine (PASHR) trading. Stock symbols are in parentheses and prices are as of the previous close, unless stated otherwise.

The Philippine Stock Exchange Index (PCOMP) rose 0.5 percent to 5,228.84.

Nickel mining companies: Nickel futures fell 2.4 percent to $17,285 a metric ton in London yesterday, the lowest close since March 29. Oriental Peninsula Resources Group Inc. (ORE) slid 0.6 percent to 7.90 pesos, NiHAO Mineral Resources International Inc. (NI) lost 0.5 percent to 12.34 pesos and Marcventures Holdings Inc. (MARC) advanced 1.1 percent to 3.73 pesos.

Manila Water Co. (MWC) : The water company that supplies half of the Philippine capital aims to complete the acquisition of a Vietnamese utility within the quarter, BusinessWorld reported, citing President Gerardo Ablaza. Manila Water obtained the right to purchase 49 percent of Kenh Dong Water Supply Joint Stock Co. late last month, the report said. Manila Water rose 1.2 percent to 25 pesos.

To contact the reporter on this story: Berni Moestafa in Jakarta at bmoestafa@bloomberg.net

To contact the editor responsible for this story: Richard Frost at Rfrost4@bloomberg.net


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