Bloomberg News

Philippine Stocks Movers: Ayala, Paxys, SM Investments Corp.

November 02, 2011

Nov. 2 (Bloomberg) -- Shares of the following companies had unusual moves in Philippine trading. Stock symbols are in parentheses and prices are as of 9:49 a.m., unless stated otherwise.

The Philippine Stock Exchange Index fell 1.7 percent to 4,258.12, set for the biggest drop since Oct. 3. The market was closed for holidays on Oct. 31 and Nov. 1.

Ayala Corp. (AC PM) lost 2.4 percent to 299 pesos. The nation’s largest developer said its joint venture with Trans- Asia Oil & Energy Development Corp. (TA PM) signed a 9 billion peso ($210 million) loan to fund the construction of a 135- megawatt power plant. Trans-Asia declined 0.9 percent to 1.05 pesos.

Paxys Inc. (PAX PM) gained 1.6 percent to 1.27 pesos. The operator of call centers said it sold its stake in WNS Philippines Inc. for 90.9 million pesos.

SM Investments Corp. (SM PM) advanced 0.9 percent to 562 pesos. The holding company of Philippine billionaire Henry Sy expects profit to double in six to seven years, its Chief Financial Officer Jose Sio said on Oct. 27.

--Editor: Richard Frost

To contact the reporter on this story: Weiyi Lim in Singapore at wlim26@bloomberg.net

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


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