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 0.4 percent to 4,925.97. The gauge has climbed 1 percent this week, its first weekly gain in three.
Sugar stocks: Central Azucarera de Tarlac (CAT PM), a sugar miller and refiner, jumped 18 percent to 18.80 pesos, the highest close since May 7, as raw and refined sugar prices climbed for the first time in five days. Roxas Holdings Inc. (ROX) , the nation’s biggest producer of raw sugar, advanced 5.1 percent to 2.68 pesos. Universal Robina Corp. (URC) , which mills sugar, climbed 2 percent to 59.10 pesos, the first gain in six days.
GMA Network Inc. (GMA7) (GMA7 PM), a radio and television network operator, fell 3.9 percent to 9.86 pesos, snapping a four-day rally that drove it yesterday to the highest close since August 2007. Philippine Long Distance Telephone Co. (TEL) Chairman Manuel Pangilinan said there are no ongoing talks to buy GMA Network.
BDO Unibank Inc. (BDO) , the nation’s biggest bank by assets, rose 2.2 percent to 63.30 pesos. The bank obtained approval from the exchange to list 896 million shares that it will sell in a one-for-three rights offer, a note from the bourse showed.
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