Philippine Stocks Preview sept 20 2011

Indonesia stock info - Philippine Stocks Preview sept 20 2011 ; Shares of the following companies may have unusual moves in Philippine trading. Stock symbols are in parentheses, and prices are as of the previous close, unless stated otherwise.

The Philippine Stock Exchange Index rose 0.4 percent to 4,307.99.

Banks & builders:
Philippine borrowing costs for debt due in three months and a year rose from record lows at yesterday’s auction, with yields on the government’s 91-day notes climbing to 0.69 percent and that of the 364-day notes increasing to 1.133 percent. Metropolitan Bank& Trust Co. (MBT PM), the nation’s second-largest bank by assets, was unchanged at 71 pesos. Ayala Land Inc. (ALI) , the nation’s largest developer, rose 1.9 percent to 15.80 pesos.

Banco de Oro Unibank Inc. (BDO) :
The nation’s largest bank by assets said it will issue approximately 3 billion pesos of notes to boost its capital. The stock increased 0.8 percent to 57.45 pesos.

Petron Corp. (PCOR) :
The Philippine government has formed a task force to probe alleged “questionable collaboration” among oil companies in setting fuel prices, ABS- CBN News reported. Petron, the nation’s biggest oil refiner and petroleum retailer, fell 0.1 percent to 15.14 pesos.

Philippine Long Distance Telephone Co. (TEL) :
The largest Philippine company by market value is not putting up an airline business nor acquiring Philippine Airlines Inc., BusinessMirror reported, citing President Napoleon Nazareno. Philippine Long Distance increased 0.7 percent to 2,316 pesos. PAL Holdings Inc. (PAL) , which owns Philippine Airlines, rose 3.6 percent to 6.32 pesos.

Sta. Lucia Land Inc. (SLI PM):
The Manila-based property company will defer a $150 million share sale plan and is still considering getting a 1.5 billion peso loan, a stock exchange filing showed. The stock declined 2.4 percent to 80 centavos.


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