Bloomberg News

Philippine Stocks: Manila Mining, Philex, Roxas, Universal

October 20, 2011

Oct. 20 (Bloomberg) -- Shares of the following companies had unusual moves in Philippine trading. Stock symbols are in parentheses and prices are as of the close in Manila.

The Philippine Stock Exchange Index decreased 0.6 percent to 4,170.57.

Mining shares: Manila Mining Corp. Class B shares (MAB PM), which can be traded by overseas investors, declined 1.6 percent to 6.3 centavos, the first loss in five days, as the price of gold fell toward a three-week low and copper slumped for a fourth day. Philex Mining Corp. (PX PM), the nation’s biggest metals producer, declined 1.7 percent to 23.10 pesos.

Gold for immediate delivery decreased 1.5 percent to $1,616.33 an ounce, set for the lowest close since Sept. 29. Copper for delivery in three months on the London Metal Exchange fell 3.7 percent to $6,9406 a metric ton.

Sugar-related companies: Roxas Holdings Inc. (ROX PM), the nation’s biggest raw-sugar producer, rose 11 percent to 2.25 pesos on prospects the price of the sweetener will increase after the government said it may lower production forecasts for the current crop year. Universal Robina Corp. (URC PM), which owns sugar mills and refineries, gained 2.6 percent to 45.90 pesos, the highest close since Aug. 3.

--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


We Almost Lost the Nasdaq
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus