Bloomberg News

Philippine Equity Movers: Energy Development, Rockwell Land

May 11, 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) rose fell 0.7 percent to 5,158.14, the lowest close since April 20. The gauge has fallen 2.6 percent this week, the steepest loss since the week ended Sept. 23.

Energy Development Corp. (EDC) , the nation’s biggest power producer using geothermal energy, advanced 1 percent to 5.96 pesos, ending a four-day loss. The company forecast this year’s profit may range between 6.8 billion pesos ($160 million) and 7 billion pesos, a stock exchange filing showed.

Rockwell Land Corp. (ROCK) rose to 4.90 pesos after listing 6.23 billion shares by introduction. The indicative listing price for the shares were at 1.46 pesos each, documents filed with the bourse showed. The company is targeting profit this year to exceed 1 billion pesos, President Nestor Padilla said.

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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