Bloomberg News

Philippine Stock Movers: Jollibee, IP E-Game, Oriental Peninsula

May 03, 2012

Shares of the following companies had unusual moves in Philippine (PASHR) trading. Stock symbols are in parentheses and prices are as of the close in Manila.

The Philippine Stock Exchange Index (PCOMP) advanced 1.4 percent to 5,300.41, a record close.

Nickel mining companies: Oriental Peninsula Resources Group Inc. (ORE) sank 7.7 percent to 7.29 pesos, the biggest drop since Sept. 26. NiHAO Mineral Resources International Inc. (NI) lost 4.7 percent to 11.76 pesos and Marcventures Holdings Inc. (MARC) slipped 2.1 percent to 3.65 pesos. Nickel futures fell 2.4 percent to $17,285 a metric ton in London yesterday, the lowest close since March 29.

Ayala Corp. (AC) , which owns the Philippine’s largest developer, advanced 4.4 percent to 462.60 pesos, closing at a record. The company’s first-quarter results will be “good,” Chairman Jaime Augusto Zobel de Ayala said.

IP E-Game Ventures Inc. (EG) , which develops online games, plunged 11 percent to 7.1 centavos, a record low. The company said Level Up! Inc. paid $1.5 million for its online game publishing assets. IP E-Game will also receive 4.76 million of Level Up! shares and a stake in the company’s unit, Playweb Games Inc., it said.

Jollibee Foods Corp. (JFC) , the nation’s largest restaurant operator, climbed 1.7 percent to 112.90 pesos. Today is the last day for investors to buy the stock before it goes ex-dividend.

JG Summit Holdings Inc. (JGS) , owner of Cebu Air, gained 3.8 percent to 35.50 pesos, closing at a record. Cebu Air is on track to meet its 2012 target on passengers, JG Summit President Lance Gokongwei said. JG Summit will also take a look at airport projects, he said.

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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