Breaking

Russian International Reserves Fall $15.7 Billion in Week to Dec. 19
Tweet TWEET

Philippine Stocks: Benguet Slumps, PetroEnergy Resources Rises

Shares of the following companies had unusual moves in Philippine trading. Stock symbols are in parentheses and prices are as of the noon break in Manila.

The Philippine Stock Exchange Index (PCOMP) fell 0.5 percent to 4,998.04. The measure is heading for a 3.9 percent loss this month, the first monthly decline since November.

Benguet Corp. Class B shares (BCB PM), which have no ownership restrictions, fell 11 percent to 24 pesos, heading for the sharpest loss since May 8. The company’s profit this year may reach 1 billion pesos ($23 million), President Philip Romualdez said. Benguet made a profit of 1.39 billion pesos in 2011, a stock-exchange filing showed.

PetroEnergy Resources Corp. (PERC) increased 1.7 percent to 6 pesos, heading for the highest close since May 22. The company will join exploration and drilling activities in West Africa, the Philippine (PASHR) Star reported, citing Vice President Francisco Delfin Jr. Delfin couldn’t be reached at his office for comment.

To contact the reporter on this story: Ian 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.