Bloomberg News

Philippine Equity Movers : Ayala Land, Jollibee Foods, Megaworld

June 20, 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 1.3 percent to 5,146.46, the highest close since May 11.

Builders: Megaworld Corp. (MEG) , a builder of residential and office towers, climbed 3 percent to 2.08 pesos, the highest close since May 14. Robinsons Land Corp. (RLC) increased 1.2 percent to 17 pesos, the highest close since June 1. The nation’s property market is at the “best” in 20 years, CB Richard Ellis Philippines Inc. Chairman Rick Santos said today in a press briefing in Manila.

Ayala Land Inc. (ALI) , the nation’s largest developer, rose 2.3 percent to 22.50 pesos, a record close based on prices going back to March 1992. The company will build apartments, shops and offices on 6.6 hectares of land that it acquired in Muntinlupa city, Ayala Land said in a statement. Its parent Ayala Corp. (AC PM) gained 2.6 percent to 475 pesos.

Jollibee Foods Corp. (JFC) , the nation’s biggest fast- food company, increased 3.8 percent to 107.70 pesos, the highest close since June 13. “Investors expect margins to improve in the second half because of lower energy costs and prices of some of its raw materials,” said James Lago, an analyst at PCCI Securities Brokers Corp. Jollibee Chief Financial Officer Ysmael Baysa couldn’t be reached at his office for comment.

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


American Apparel's Future
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus