Shares of the following companies had unusual moves in Philippine trading. Stock symbols are in parentheses and prices are as of the close of trading in Manila.
The Philippine Stock Exchange Index fell 0.4 percent to 5,038.92.
Jollibee Foods Corp. (JFC PM), the nation’s biggest restaurant operator, climbed 3.5 percent to 117 pesos, the biggest gainer on the benchmark Philippine Stock Exchange Index. The stock was rated overweight with a 135 peso share-price target at JPMorgan Chase & Co. Investors should own a greater proportion of the stock than benchmark indexes as the company’s expansion in China will boost margins, according to JPMorgan in a report today.
Philex Mining Corp. (PX PM), the largest Philippine copper producer, fell 1.9 percent to 20.75 pesos, the most since Feb. 14. Copper declined for a second day, losing as much as 1.3 percent to $8,500 a metric ton in London, as increasing stockpiles signaled weaker demand.
TKC Steel Corp. (T PM), a producer and seller of metals, rose 2.9 percent to 2.51 pesos, the sharpest advance since March 22. The Philippine company said it plans to buy a 70 percent stake in a mining venture in Occidental Mindoro.