The Philippine Stock Exchange Index (PCOMP) declined 0.2 percent to 5,285.12, snapping a two-day rally.
Construction, cement companies: Construction-material prices in Manila rose 4.7 percent in June, compared with a 2.6 percent gain in May, the Philippine Star reported, citing data from the National Statistics Office.
Lafarge Republic Inc. (LRI) , a cement producer, advanced 1.8 percent to 8.96 pesos, the highest close since May 3. DMCI Holdings Inc. (DMC) , the nation’s largest construction company, declined 1.2 percent to 58.70 pesos on concern material costs will rise.
AgriNurture Inc. (ANI) , a vegetable and fruit grower, increased 6.5 percent to 9.08 pesos, the sharpest gain since April 23. The company dropped a plant to buy Sugarhouse, a restaurant operator after failing to reach an agreement on its proposed acquisition following “legal, tax and financial due diligence,” AgriNurture said in a statement today.
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