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 for a second day, rising 0.8 percent to 4,966.58.
Atlas Consolidated Mining & Development Corp. (AT) increased 1.5 percent to 17.76 pesos, the sharpest gain since May 22. Carmen Copper Corp., a unit of the company, signed a 12- year agreement to buy electricity from Toledo Power Co., meeting power needs as it increases production to 60,000 metric tons of copper ore a day from 40,000 tons, a stock-exchange filing showed. Carmen Copper also signed an agreement to supply Toledo with coal, which will cut the mine’s power cost by 35 centavos a kilowatt hour, it said.
BDO Unibank Inc. (BDO) , the nation’s biggest bank by assets, rose 4.1 percent to 67.70 pesos, the sharpest gain since May 31. The bank yesterday set the price of its $1 billion one- for-three rights offer at 48.60 pesos a share.
DMCI Holdings Inc. (DMC) , the nation’s biggest construction company, advanced 2.6 percent to 55 pesos, the highest close since June 1 and the biggest percentage gain in the nation’s benchmark stock index. D.M. Consunji Inc., a unit of the company, is evaluating bid documents for a 60 billion- peso ($1.38 billion) contract to extend and manage Line 1 of the light-rail transit system in Manila, a stock-exchange filing showed.
Filinvest Land Inc. (FLI) added 1.6 percent to 1.25 pesos, the first gain in six days. The company raised 7 billion pesos after completing the sale of retail bonds.
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