THE Philippine Stock Exchange index rose 22.45, or 0.7 percent, to 3,223.35 at the close Wednesday, extending Tuesday’s 0.7-percent advance.

The following are among the most active stocks in the Philippine market Wednesday. Stock symbols are in brackets after company names.

Alaska Milk Corp. (AMC PM)—owner of the best-selling milk brand in the Philippines—jumped 20 centavos, or 4 percent, to P5.20, its biggest gain since December 21. The company said profit grew 65 percent to P663 million last year and that it’s setting aside P380 million of its earnings for investments.

First Gen Corp. (FGEN PM), the second-largest Philippine power producer by market value, rose P1, or 2.3 percent, to P44.50, the sharpest advance since January 21. The company said it received the $260 million from a bond sale that it will use to pay debt.

Jollibee Foods Corp. (JFC PM), the largest Philippine fast-food company, gained P2, or 4.2 percent, to P49.50, its biggest gain since January 25. The company said its Chinese restaurant business increased sales by 13 percent last year.
PNOC Energy Development Corp. (EDC PM), the largest Philippine producer of geothermal energy, advanced 10 centavos, or 1.7-percent, to P6, adding to a 1.7-percent advance Tuesday. The company may bid for four Philippine government-owned power plants, according to news reports.

Roxas Holdings Inc. (ROX PM), a sugar refiner, jumped 15 centavos, or 4.6 percent, to P3.45, the highest since November 20, 2006. Roxas climbed 21 percent in the past five days on speculation the company’s expansion plans and the higher price of the sweetener will boost earnings.

AYALA Land Inc. (ALI), the country’s largest real-estate developer, plans to offer 1 billion common shares to generate funds for expansion.

Chowking optimistic of 2008 prospects

CHOWKING Food Corp., the Oriental food restaurant of listed Jollibee Foods Corp., could register a 12 percent growth in sales this year and its market share may further expand.

VIVIAN Yuchengco, a former Philippine Stock Exchange (PSE) chairman, is disappointed that Makati Business Club (MBC) executive director Alberto Lim is converting the organization into a political party via statements calling for the resignation of two Cabinet members allegedly involved in the broadband deal scandal.

SAN FRANCISCO—Yahoo Inc. got back to business Tuesday, announcing its first acquisition since Microsoft Corp. made its unsolicited takeover bid for the Internet company.

THE Philippine Stock Exchange index rose 22.45, or 0.7 percent, to 3,223.35 at the close Wednesday, extending Tuesday’s 0.7-percent advance.

San Miguel Corporation Retirement Plan (SMCRP) paid P2,091,642,151 in buying 36,940,600 shares in San Miguel Corp. The newly acquired shares, which the pension plan bought in January, consisted of 1,135,500 A shares and 35,805,100 B shares.