Philippine stocks were mixed on Friday’s close although the Philippine Stock Exchange index (PSEi) was down 0.24% to end the week at 7,235.21 points. Industrial stocks gained the most, moving 0.71% higher to end the week at 11,129.29 points.
Here are this week’s Top 5 Philippine Stock Exchange Gainers:
Pacifica Inc (PSE:PA) up 51.16%
Mining firm Pacifica Inc gained 51.16% this week, the highest among all other stocks listed on the Philippine Stock Exchange, bringing its four-week comparative price change to 47.73%.
Basic Energy Corporation (PSE:BSC)
Holding firm Basic Energy Corporation (PSE:BSC) ended the week as the second highest gainer after adding 50% to its stock value. Its four-week comparative price change now stands at 37.02%.
On February 7, the consortium of Basic Energy Corporation and Phinma Energy Corporation for Geothermal Service Contract No. 8 located in Mabini, Batangas reported that drilling of the exploratory well MAB-1 has reached its target depth at 1,679 meters.
Preparations for setting the perforated liners are now underway. Testing of the well aimed at obtaining temperature, pressure, and permeability data, to be performed by its contractor, Scientific Drilling International (SDI), will commence immediately.
Alterra Capital Partners (PSE:ALT)
Holdings firm Alterra Capital Partners (PSE:ALT)’s stock gained 37.27% this week after ending Friday’s trading at 9.06 a share.
On 20 January 2017, the Securities and Exchange Commission approved the application of the Company to change its corporate name from “Alterra Capital Partners, Inc.” to “Philab Holdings Corp.”
ArthaLand Corporation (PSE:ALCO)
Real estate firm ArthaLand saw its stock gaining 34.78% this week, bringing its four-week comparative price change to 150%.
Having noted the substantial increase in the share price of Arthaland Corporation common shares (ALCO) from Php 0.265 per share on 18 October 2016 to Php 1.56 per share as of 11:41 AM on 06 February 2017, the company clarified that it was not aware of any information and has not taken any action, which may have caused the substantial increase in the share price of ALCO.
To date, the Company continues to carry on normal operations and has fully reported and disclosed all matters required by the Securities and Exchange Commission, the Exchange and other relevant authorities.
Philippine Estates Corporation (PSE:PHES)
Real estate developer Philippine Estates Corporation (PSE:PHES)’s stock rounded up the top five gainers this week with a one week change of 32.08%. The company made no disclosures this week that can be attributed to the spike in invesments of its shares. – BusinessNewsAsia.coml