Philippine Stocks Movers: Alsons Consolidated Resources, Paxys

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.

The Philippine Stock Exchange Index fell 0.7 percent to 4,224.34, the lowest level since May 25.

Mining companies: Class B shares of Lepanto Consolidated Mining (LCB) Co decreased 4.5 percent to 1.06 pesos, leading Philippine producers of precious metals lower as prices of gold and silver declined. Philex Mining Corp. (PX) , the nation’s biggest metals producer, fell 2.2 percent to 19.96 pesos, the lowest close since May 26.

Gold for immediate delivery fell for a third day, losing as much as 0.2 percent to $1,534.50 an ounce. Cash silver decreased 0.5 percent to $36.645 an ounce.

Alsons Consolidated Resources Inc. (ACR) increased 7.5 percent to 1.44 pesos, the sharpest gain since Jan. 12, after the company said it will sell 55 million pesos ($1.3 million) of preferred shares and $175 million worth of common shares. The proceeds will be used to fund power projects, the company said.

Paxys Inc. (PAX) , an operator of call centers, jumped 6.9 percent to 1.7 pesos, the steepest increase since March 1. Smartsalary Ltd., a wholly owned unit of Paxys, completed the purchase of 100 percent of PBI Benefits Solutions Ltd. Paxys shares were suspended from trading the previous two days.

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

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.