The Philippine Stock Exchange Index (PCOMP) rose 1 percent to 4,747.90, a record close. The gauge climbed 2.9 percent this week, its third weekly gain.
Consumer-stocks: SM Prime Holdings Inc. (SMPH) , the nation’s biggest shopping mall operator, climbed 2.6 percent to 15.60 pesos, the highest close since the stock began trading July 1994. Jollibee Foods Corp. (JFC) , the nation’s biggest fast-food company, rose 4.3 percent to 93.30 pesos, the most since Nov. 9. Robinsons Land Corp. (RLC) , the No. 2 shopping mall operator, added 5.1 percent to 13.90 pesos, the highest since Jan. 6.
The central bank’s interest rate cut and statement that it may consider more monetary policy easing bolstered the outlook for domestic spending. “The central bank’s action and statement reinforces the outlook for consumer spending,” said Richard Laneda, an analyst at Manila-based CitisecOnline.com.
Metal producers: Philex Mining Corp. (PX) , the nation’s biggest metals producer, increased 3.6 percent to 23.10 pesos, its highest close since Dec. 2. Atlas Consolidated Mining & Development Corp. (AT PM) climbed 3.9 percent to 19.30 pesos, the highest close since Oct. 28.
Copper for April-delivery advanced as much as 1.4 percent to 61,150 yuan a ton in Shanghai. The metal recently traded at 60,770 yuan.
PAL Holdings Inc. (PAL) , owner of Philippine Airlines Inc., increased 1.6 percent to 7.85 pesos, ending a two-day slide. Philippine Air, the nation’s largest carrier, seeks capital to fund a re-fleeting by 2015 and upgrade its aging planes, the Philippine Star reported, citing airline President Jaime Bautista. Bautista couldn’t be reached in his office for comment.
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