Philippine Stock Movers: Lepanto Mining, Petron, Philex Mining
Shares of the following companies had unusual moves in Philippine trading. Stock symbols are in parentheses and prices at the noon close in Manila.
The Philippine Stock Exchange Index closed at a record for a third day, rising 0.2 percent to 4,485.65.
Gold producers: Lepanto Consolidated Mining (LC) Co.’s Class A shares (LC PM), which are reserved for Filipinos, jumped 7.4 percent to 1.16 pesos, the highest close based on prices going back to January 1990 after gold advanced to a record. Philex Mining Corp. (PX) , the nation’s biggest metals producer, rose 4.4 percent to 27.10 pesos, the highest close based on prices dating back to January 1990.
Gold for immediate delivery gained for an 11th day yesterday, rising to an all-time high of $1,607.45 an ounce. The metal last traded at $1,602.23.
Petron Corp. (PCOR) , the largest Philippine oil refiner, advanced 0.6 percent to 16.88 pesos, extending yesterday’s 5.7 percent surge. The stock jumped as much as 3.7 percent earlier today. Petron and the local unit of Royal Dutch Shell Plc won contracts to supply the Power Sector Assets and Liabilities Management Corp. with 8.34 billion pesos ($194 million) worth of fuel, the Manila-based state agency said.
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