Shares of the following companies had unusual moves inhttp://www.philippinesflyers.com/realestate/realestate-list/manila Philippine Trading. Stock symbols are in parentheses and prices are as of the noon close in Manila,The Philippine Stock Exchange Index fell 0.2 percent to 4,346.07, snapping a two-day rally and extending this week’s loss to 1.1 percent.
Gold, copper producers: Lepanto ConsolidShares of the following companies had unusual moves in Philippine trading. Stock symbols are in parentheses and prices are as of the noon close in Manila,The Philippine Stock Exchange Index fell 0.2 percent to 4,346.07, snapping a two-day rally and extending this week’s loss to 1.1 percent.
Gold, copper producers: Lepanto Consolidated Mining (LC) Co.’s Class A shares (LC PM), which are reserved for Filipinos, climbed 1.4 percent to 1.42 pesos on speculation gold and copper prices will rise next week. Atlas Consolidated Mining & Development (AT) Corp rose 1.7 percent to 20.50 pesos, the highest close since Aug. 16.
Gold may gain next week as concern about economic growth spurs demand for the metal as a protection of wealth, according to 22 of 26 traders, investors and analysts surveyed by Bloomberg. Seven of 15 respondents in a separate Bloomberg survey expect copper to rise on speculation China will accelerate imports.
PAL Holdings Inc. (PAL) decreased 2.8 percent to 6.30 pesos, the first loss in three days, after its unit said it will raise debt so employees it fired will be paid their benefits. Philippine Airlines Inc., the nation’s biggest carrier and a unit of the company, said it will borrow $50 million from Credit Suisse Group AG to pay for the separation and other benefits of about 2,400 workers who will lose their jobs because of the company’s outsourcing program.
San Miguel Corp. (SMC) , the largest Philippine food and drinks company, increased 2.1 percent to 124.50 pesos, the sharpest advance since Aug. 18. San Miguel will stay as a listed company and “contemplate” listing all its operating subsidiares, President Ramon Ang said. Ang issued the statement following a comment that he would prefer the company to buy back its shares and become privately held, because disclosure requirements hamper acquisition plans. ated Mining (LC) Co.’s Class A shares (LC PM), which are reserved for Filipinos, climbed 1.4 percent to 1.42 pesos on speculation gold and copper prices will rise next week. Atlas Consolidated Mining & Development (AT) Corp rose 1.7 percent to 20.50 pesos, the highest close since Aug. 16.
Gold may gain next week as concern about Economic Growth spurs demand for the metal as a protection of Shares of the following companies had unusual moves in Philippine trading. Stock symbols are in parentheses and prices are as of the noon close in Manila
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| Economic Growth |
The Philippine Stock Exchange Index fell 0.2 percent to 4,346.07, snapping a two-day rally and extending this week’s loss to 1.1 percent.
Gold, copper producers: Lepanto Consolidated Mining (LC) Co.’s Class A shares (LC PM), which are reserved for Filipinos, climbed 1.4 percent to 1.42 pesos on speculation gold and copper prices will rise next week. Atlas Consolidated Mining & Development (AT) Corp rose 1.7 percent to 20.50 pesos, the highest close since Aug. 16.
Gold may gain next week as concern about economic growth spurs demand for the metal as a protection of wealth, according to 22 of 26 traders, investors and analysts surveyed by Bloomberg. Seven of 15 respondents in a separate Bloomberg survey expect copper to rise on speculation China will accelerate imports.
PAL Holdings Inc. (PAL) decreased 2.8 percent to 6.30 pesos, the first loss in three days, after its unit said it will raise debt so employees it fired will be paid their benefits. Philippine Airlines Inc., the nation’s biggest carrier and a unit of the company, said it will borrow $50 million from Credit Suisse Group AG to pay for the separation and other benefits of about 2,400 workers who will lose their jobs because of the company’s outsourcing program.
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