Bloomberg News

Philippine Equity: International Container, Philex Petroleum

May 18, 2012

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

The Philippine Stock Exchange Index (PCOMP) fell 1.2 percent to 4,958.41. The measure is poised for a 3.9 percent weekly loss, the biggest since September.

International Container Terminal Services Inc. (ICT) , the nation’s largest port operator, decreased 1.6 percent to 69.90 pesos, its fourth decline in five days. The company said a ship collided with one gantry crane belonging to its Baltic Container Terminal Ltd. unit in Gdynia, Poland, and damaged another. The company said it believes the incident won’t significantly affect the terminal’s operations.

Philex Petroleum Corp. (PXP) advanced 4.5 percent to 32.25 pesos, heading for the highest close since April 26. China National Offshore Oil Corp. has expressed interest in the company’s gas reserves in the exploration area known as Service Contract 72, Philex Petroleum Chairman Manuel Pangilinan said. Philex Mining Corp. (PX) , parent of Philex Petroleum, advanced 2.5 percent to 24.55 pesos, heading for the highest close since May 8.

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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