The Philippine Stock Exchange Index rose 0.9 percent to 4,324.9
Aboitiz Power Corp. (AP) : A venture of Aboitiz and Oslo- based SN Power said its Ambuklao hydroelectric plant in northern Philippines has started producing electricity after being shut for more than a decade. SN Aboitiz said Ambuklao’s capacity will be increased to 105 megawatts from 35 megawatts now once its repair is completed in the third quarter. The stock gained 0.5 percent to 30 pesos.
Jollibee Foods Corp. (JFC) : The largest Philippine restaurant operator will complete by the third quarter an agreement to invest in a venture with Viet Thai International Joint Stock Co., a stock exchange filing showed. The transaction will have no “significant impact” on operating profit on 2011, it said. The stock gained 1.2 percent to 88 pesos.
Metro Pacific Investments Corp. (MPI) : The unit of Hong Kong’s First Pacific Co. won approval from the Securities and Exchange Commission to raise its authorized capital stock to 30.05 billion pesos ($695 million) from 24.24 billion pesos, an exchange filing showed. The company also said it issued 2.03 billion common shares to Metro Pacific Holdings Inc. upon the conversion of 6.6 billion pesos of convertible bonds. The stock gained 2.3 percent to 3.52 pesos. For the latest updates PRESS CTR + D or visit Stock Market news Today
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