Bloomberg News

Philippine Stock Movers: BPI, COL Financial Group, IP Converge

May 21, 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 1.5 percent to 4,954.

Bank of the Philippine Islands (BPI PM), the nation’s largest lender by market value, added 1.8 percent to 67.20 pesos. The bank is keeping its loan-growth forecast of 12 percent to 15 percent this year, and its core income is “so far so good,” President Aurelio Montinola told reporters today.

COL Financial Group Inc. (COL) , the largest Philippine online stock brokerage, gained 3.6 percent to 22.80 pesos, its steepest increase since March 27. First-quarter profit surged 58 percent to a record 130 million pesos ($3 million), the company said in a stock-exchange filing.

IP Converge Data Center Inc. (CLOUD) , a provider of managed data services and business solutions, climbed 1.3 percent to 4.05 pesos, its highest close since Oct. 13. IP Ventures Inc. said it offered 4.20 pesos a share to acquire about 9 percent of IP Converge from minority shareholders, according to an exchange filing.

To contact the reporter on this story: Gan Yen Kuan in Kuala Lumpur at ykgan@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net


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