Bloomberg News

Philippine Equity Movers: AgriNurture, Atlas Mining, PAL, Philex

October 03, 2011

Oct. 3 (Bloomberg) -- Shares of the following companies had unusual moves in Philippine trading. Stock symbols are in parentheses and prices are as of the 1 p.m. close in Manila.

The Philippine Stock Exchange Index sank 3.4 percent to 3,865.83, snapping a three-day, 7.5 percent rally. The measure lost 6.8 percent last quarter, the most since three months ended December 2008. The exchange added 60 minutes of stock trading starting today.

Mining stocks: Philex Mining Corp. (PX PM), the nation’s biggest producer of metals, declined 4.8 percent to 21 pesos, its first loss in four days. Atlas Consolidated Mining & Development Corp. (AT PM) decreased 5.9 percent to 15 pesos, snapping a three-day rally.

The London Metals Index, a gauge of six metals traded on the London Metal Exchange including copper and nickel, fell 3.4 percent on Sept. 30 to the lowest close since July 22, 2010.

AgriNurture Inc. (ANI PM), a fruit and vegetable grower, increased 12 percent to 9.52 pesos, the sharpest gain since April 29. A fund managed by Black River Asset Management LLC plans to buy a 28.1 percent stake in the company for $30.45 million, a stock exchange filing showed.

PAL Holdings Inc. (PAL PM), owner of the nation’s largest carrier Philippine Airlines Inc., jumped 8.6 percent to 7.09 pesos, the highest close since Jan. 18. Philippine Airlines has drawn interest from overseas investors who may put money into the carrier, the Philippine Daily Inquirer reported, citing President Jaime Bautista. Bautista couldn’t be reached in his office for comment.

--Editor: Shiyin Chen

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


Cash Is for Losers
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus