Bloomberg News

Philippine Equity Movers: Philex Petroleum, Republic Glass

April 27, 2012

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

The Philippine Stock Exchange Index (PCOMP) fell 1 percent to 5,169.05, paring a weekly gain to 0.2 percent.

Philex Petroleum Corp. (PXP) tumbled 14 percent to 28.50 pesos, the sharpest loss since Sept. 26. The company may delay exploration in the South China Sea because of a territorial dispute between China and the Philippines, Chairman Manuel Pangilinan said. Philex Mining Corp. (PX) , owner of Philex Petroleum, fell 3.5 percent to 25 pesos, the most since Feb. 9.

Republic Glass Holdings Corp. (REG) climbed 8.7 percent to 2.26 pesos, the steepest gain since April 12. The company said it expects to book a one-time gain of 175 million-pesos ($4.1 million) from the sale of a property.

To contact the reporter on this story: Ian 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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