Shares of the following companies had unusual moves in Philippine trading. Stock symbols are in parentheses and prices are as of the noon close in Manila.
The Philippine Stock Exchange Index dropped 1.1 percent to 4,291.11.
Miners: The Class A shares of Manila Mining Corp. (MA PM), which are reserved for Filipinos, gained 1.5 percent to 6.9 centavos after the price of copper rallied on the London Metal Exchange and gold advanced to a record. Apex Mining Co.’s Class B shares (APXB PM), which haven no ownership restrictions, climbed 11 percent to 4.42 pesos.
Boulevard Holdings Inc. (BHI PM), a property developer, jumped 28 percent to 37 centavos, the highest close since February 2007. The company said it’s in talks with Korea’s Resom Resort to lease 100 hectares in the company’s Paniman Valley and Beach Cove for the development of resort properties.
I-Remit Inc. (I PM), a provider of fund transfer services, increased 4.9 percent to 2.78 pesos, the sharpest advance since July 5, after Finance Secretary Cesar Purisima said remittances from overseas Filipinos will probably meet the government’s $19.3 billion target this year.