Philippine Equity Movers: DMCI, Globe Telecom, Robinsons Land

Shares of the following companies had unusual moves in Philippine (PASHR) trading. Stock symbols are in parentheses and prices are as of the close of trading in Manila.

The Philippine Stock Exchange Index (PCOMP) rose 0.7 percent to 4,925.67.

Builders: Robinsons Land Corp. (RLC) added 2.4 percent to 16.56 pesos, snapping a two-day, 9.6 percent slump. DMCI Holdings Inc. (DMC) climbed 3.1 percent to 53.60 pesos, the most since May 17. Inflation slowed in May, giving the central bank room to cut interest rates should Europe’s debt crisis worsen and threaten the nation’s growth.

Globe Telecom Inc. (GLO) , the nation’s second-largest mobile phone company, rose 1 percent to 1,050 pesos, snapping a two-day, 8 percent loss. The company’s postpaid users may reach two million this year, Manila Times reported, citing Martha Sazon, head of Globe’s postpaid services. Sazon couldn’t be reached in her 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

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