Bloomberg News

Philippine Stock Movers: DFNN, Lepanto, Manila Mining, Omico

December 29, 2011

Dec. 29 (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 increased 0.8 percent to 4,371.96, the biggest gain in almost a month. The measure advanced 4.1 percent this year, the third consecutive yearly gain.

Mining shares: Oriental Petroleum & Minerals Corp. (OPM PM) dropped 5.9 percent to 1.6 centavos, leading a decline among Philippine mining companies after a gauge of six metals traded on the London Metal Exchange including copper and nickel fell 2.2 percent yesterday, the sharpest loss since Dec. 14.

Philex Mining Corp. (PX PM), the nation’s biggest metal producer, sank 2.1 percent to 20.85 pesos, the lowest close in two weeks. Manila Mining Corp. Class-B shares (MAB PM), which are open to overseas investors, decreased 1.7 percent to 5.9 centavos and Omico Corp. (OM PM) slid 1.4 percent to 72 centavos. Lepanto Consolidated Mining Co. (LC PM) decreased 1.3 percent to 1.55 pesos, the lowest level since Nov. 29.

DFNN Inc. (DFNN PM) rose 1.6 percent to 5.90 pesos, the highest close in a week, after the Manila-based provider of Internet-based stock-market investing services said it’s seeking to double sales next year as it consolidates its gaming business.

--Editor: Shiyin Chen

To contact the reporter on this story: Norman P. Aquino in Manila at naquino1@bloomberg.net

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


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