Bloomberg News

Philippine Stock Movers: Alaska Milk, Lepanto, Manila Mining

November 23, 2011

Nov. 23 (Bloomberg) -- Shares of the following companies had unusual moves in Philippine trading. Stock symbols are in parentheses and prices are as of 10:53 a.m. in Manila.

The Philippine Stock Exchange Index declined 0.2 percent to 4,282.46.

Miners: Lepanto Consolidated Mining Co.’s (LC PM) Class-A shares, restricted to local investors, rose 4.7 percent to 1.56 pesos, set for the highest close since Aug. 31, after gold futures rose the most in a week as debt concerns in the U.S. and Europe boosted demand for the precious metal.

Manila Mining Corp.’s (MA PM) Class-A shares increased 3.1 percent to 6.60 centavos. Lepanto’s B-shares gained 2.9 percent to 1.77 pesos, while Manila Mining’s B-shares increased 1.5 percent to 6.7 centavos. Gold for December delivery gained 1.4 percent to settle at $1,702.40 an ounce on the Comex in New York yesterday, the biggest advance since Nov. 11. Futures last traded at $1,709.30.

Alaska Milk Corp. (AMC PM), owner of the nation’s most popular milk brand, rose 3.9 percent to 13.50 pesos, set for its highest close since May 16. The company declared a dividend of 60 centavos a share, it said in a disclosure to the stock exchange yesterday.

--Editor: Matthew Oakley

To contact the reporter on this story: Cecilia Yap in Manila at cyap19@bloomberg.net

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


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