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Philippine Stock Movers: Atlas, International Container, Philex

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Sept. 26 (Bloomberg) -- 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 sank 4.2 percent to 3,721.22, the lowest close since Sept. 2, 2010. The measure dropped for a fifth day, the longest losing streak since May 25.

Mining shares: Philex Mining Corp. (PX PM), the nation’s largest metals producer, slumped 11 percent to 18.56 pesos, the sharpest loss since December 2009, as the price of gold slid for a fourth day and copper declined for a seventh day. Atlas Consolidated Mining & Development Corp. (AT PM) retreated 6.9 percent to 14.80 pesos, the lowest close since March 25.

International Container Terminal Services Inc. (ICT PM), the largest Philippine port operator, sank 6.7 percent to 45.70 pesos, the lowest close since April 7. The stock’s rating was cut to “neutral” from “overweight” and its 12-month share price estimate was reduced to 50 pesos by Jeanette Yutan, an analyst at JPMorgan Chase & Co.

To contact the reporter on this story: Ian C. 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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