Philippine Stocks Movers: Ayala, MRC Allied, Paxys, Trans-Asia

Shares of the following companies had unusual moves in Philippine trading. Stock symbols are in parentheses and prices are as of the close in Manila, unless stated otherwise.

The Philippine Stock Exchange Index fell 1.7 percent to 4,260.41, the biggest drop since Oct. 3. The market was closed for holidays on Oct. 31 and Nov. 1.

Ayala Corp. (AC) lost 3.7 percent to 295 pesos, the biggest drop since Oct. 3. The nation’s largest developer said its joint venture with Trans-Asia Oil & Energy Development (TA) Corp signed a 9 billion-peso ($210 million) loan to fund the construction of a 135-megawatt power plant. Trans-Asia declined 1.9 percent to 1.04 pesos.

MRC Allied Inc. (MRC) , a property developer, lost 1.6 percent to 0.305 pesos after saying the company’s unit is considering listing in Frankfurt.

Paxys Inc. (PAX) declined 1.6 percent to 1.25 pesos. The operator of call centers said it sold its stake in WNS Philippines Inc. for 90.9 million pesos.

To contact the reporter on this story: Weiyi Lim in Singapore at wlim26@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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