Philippine Stock Movers: Philex Mining, Robinsons Land

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 rose 1.2 percent to 4,291.44, the highest level since June 3. The measure gained 3.3 percent this week, the sharpest weekly advance since April 1.

Philex Mining Corp. (PX) , the largest Philippine metals producer, climbed 9.4 percent to 23.30 pesos, the highest close since January 1990, on speculation an upgrade in the country’s sovereign-debt rating will cut funding costs at its Silangan gold and copper project. The nation’s debt rating was raised to BB+, one level below investment grade, from BB by Fitch Rating yesterday.

Robinsons Land Corp. (RLC) , the nation’s second-largest shopping mall builder, jumped 3.7 percent to 12.42 pesos, the highest close since June 3. First Metro Investment Corp., the nation’s top fund manager over the past three years, said it’s buying shares of the company, expecting the stock will rally in the second half.

To contact the reporter on this story: Ian C. Sayson in Manila at

To contact the editor responsible for this story: Darren Boey at

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.