Bloomberg News

Philippine Stocks: Apex Mining, Metropolitan Bank, NiHAO Mineral

September 29, 2011

Sept. 29 (Bloomberg) -- Shares of the following companies had unusual moves in Philippine trading. Stock symbols are in parentheses and prices are as of 11:37 a.m.

The Philippine Stock Exchange Index increased 10.45 points, or 0.3 percent, to 3,886.57, after slumping as much as 1.6 percent earlier. The measure is heading for a 9.4 percent loss this quarter, the biggest decline since the three months ended December 2008.

Miners: Apex Mining Co. Class-A shares (APX PM), which are reserved for Filipinos, sank 7.4 percent to 3.24 pesos, heading for the lowest close since Sept. 2, 2010, after gold dropped yesterday and copper slumped. NiHAO Mineral Resources International Inc. (NI PM), which plans to form a venture with Glencore International AG, lost 3.2 percent to 3.35 pesos.

Metropolitan Bank & Trust Co. (MBT PM), the nation’s second-largest bank by assets, increased 4 percent to 64.50 pesos, heading for the sharpest gain since Aug. 10. First Metro Investment Corp., a unit of Metropolitan Bank, said it signed an agreement with Mitsui & Co. to “enhance” distribution of Toyota vehicles in the Philippines.

--Editor: Matthew Oakley

To contact the reporter on this story: Ian C. Sayson in Manila at isayson@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net


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