Digital, San Miguel, Swift, PLDT: Philippine Stocks Preview

Date:2011-08-31lile  Text Size:

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 decreased 0.9 percent to 4,305.56 on Aug. 26. The market was shut for the holidays on Aug. 29 and 30.

Philippine Long Distance Telephone Co. (TEL) : The Philippines will prevent a monopoly in the telecommunications industry it is seeks to “resolve” issues related to the plan of PLDT to acquire Digital Telecommunications Phils. Inc. (DGTL PM), President Benigno Aquino told local radio on Aug. 29. PLDT lost 0.5 percent to 2,342 pesos on Aug. 26. Digital declined 1.3 percent to 1.49 pesos

San Miguel Corp. (SMC) : The largest food and drinks company may spend as much as $1.2 billion upgrading Esso Malaysia Bhd.’s oil refinery and renovating its gasoline stations, San Miguel director Eric Recto and San Miguel President Ramon Ang said. The stock declined 0.2 percent to 123.80 pesos on Aug. 26.

Swift Foods Inc. (SFI) : The poultry raiser will lease its farms in Tanay and Salikneta to a grower, a stock-exchange filing showed. The company said in July 29 that it shut the farms to “eradicate” Newcastle’s disease. The stock declined 2.9 percent to 17 centavos on Aug. 26.

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