Bloomberg News

Philippine Stocks: Atlas Mining, Holcim Philippines, Philex

December 09, 2011

Dec. 9 (Bloomberg) -- Shares of the following companies may had unusual moves in Philippine trading. Stock symbols are in parentheses and prices are as of 12:01 p.m. in Manila.

The Philippine Stock Exchange Index fell 0.5 percent to 4,292.75.

Miners: Philex Mining Corp. (PX PM), the nation’s biggest metals producer, declined for a fifth day, losing 0.9 percent to 21.40 pesos, set for the lowest close since Oct. 5. Atlas Consolidated Mining & Development Corp. (AT PM) decreased 1.1 percent to 17 pesos, bound for the lowest close since Oct. 12.

The London Metals Index, a gauge of six metals traded on the London Metal Exchange including copper and nickel, fell 1.1 percent yesterday, the sharpest loss since Nov. 23.

Holcim Philippines Inc. (HLCM PM), the nation’s biggest cement producer, sank 2.3 percent to 8.40 pesos, ending a two- day rally. The stock’s rating was lowered to “sell” from “hold” and its share-price estimate was cut to 6.60 pesos from 9.80 pesos by Lovell Sarreal, Manila-based analyst at ATR KimEng Securities Inc.

--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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