Philippine Stocks: Holcim, Lepanto, Philex Mining, San Miguel
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 fell for a third day, dropping 1.2 percent to 4,248.68, the steepest decline since March 17.
Holcim Philippines Inc. (HLCM) , the nation’s biggest cement producer, dropped 3.1 percent to 11.74 pesos, its lowest close since March 31. Holcim’s first-quarter profit fell 43 percent from a year earlier to 818.57 million pesos ($19 million), according to a company statement.
Integrated Micro-Electronics Inc. (IMI) , a provider of electronic manufacturing services, jumped 14 percent to 7.59 pesos, the most since Feb. 5. The company said it will acquire EPIQ NV units in Europe and Mexico for 43 million euros ($64 million). The purchase will be made through a combination of cash and 200 million newly issued Integrated Micro-Electronics shares, or a 12 percent stake, the company said in a statement.
Lepanto Consolidated Mining (LC) Co climbed 4.4 percent to a record 72 centavos after Philex Mining Corp. (PX) said it will buy a 5 percent stake in the Philippine metals producer. Philex gained 1.3 percent to 17.62 pesos.
San Miguel Corp. (SMC) , the largest Philippine food and drinks company, tumbled by a record 28 percent to 109.50 pesos, as it resumed trading after a three-week voluntary suspension to complete the sale of shares and convertible bonds for expansion.
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