Bloomberg News

Philippine Equity Movers: Aboitiz Power, Ayala, Pancake House

July 02, 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 of trading in Manila.

The Philippine Stock Exchange Index (PCOMP) rose 1 percent to 5,300.24, the highest close since May 3. The gauge advanced 2.7 percent in the second quarter, the third straight gain.

Ayala Land Inc. (ALI) , the largest Philippine developer, advanced 2.1 percent to 22.05 pesos, the highest close since June 20. The company said it’s seeking an alliance with the Ortigas group and has offered an initial 15 billion-peso ($357 million) budget for the venture.

First Gen Corp. (FGEN) advanced for a fourth day, climbing 1.1 percent to 17.86 pesos, the highest close since April 2008, after the Philippine Daily Inquirer reported the company is seeking government approval for six wind-power projects, citing the energy department.

Pancake House Inc. (PCKH) climbed 5 percent to 10.50 pesos. The company has forecast a 70 percent surge in profit this year, a stock exchange filing showed.

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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