Philippine Stocks Movers: Ayala, MRC Allied, Paxys, Trans-Asia
Shares of the following companies had unusual moves in Philippine trading. Stock symbols are in parentheses and prices are as of the close in Manila, unless stated otherwise.
The Philippine Stock Exchange Index fell 1.7 percent to 4,260.41, the biggest drop since Oct. 3. The market was closed for holidays on Oct. 31 and Nov. 1.
Ayala Corp. (AC) lost 3.7 percent to 295 pesos, the biggest drop since Oct. 3. The nation’s largest developer said its joint venture with Trans-Asia Oil & Energy Development (TA) Corp signed a 9 billion-peso ($210 million) loan to fund the construction of a 135-megawatt power plant. Trans-Asia declined 1.9 percent to 1.04 pesos.
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