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PV Drilling rises to two-week high on earnings estimate
PetroVietnam Drilling & Well Services Joint-Stock Co., which has contracts with ConocoPhillips and Petroliam Nasional Bhd., rose to the highest in more than two weeks Friday after raising this year's profit forecast.
The stock, the fourth-biggest by value on the Ho Chi Minh City Stock Exchange, climbed 4.8 percent to VND99,000, the highest since September 11. The benchmark VN-Index gained for a second day, adding 3 percent.
PetroVietnam Drilling increased its profit forecast to VND850 billion (US$51 million) from the initial estimate of VND700 billion, the company said in a statement posted on the bourse's website after the market close Thursday. Net income in the first eight months was VND675 billion.
The provider of oil and gas services has climbed for six consecutive days in Ho Chi Minh City, its longest winning streak since July 17.
Thanhnien
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