Philippine Equity Movers: DMCI, Geograce, Lepanto, Robinsons
The Philippine Stock Exchange Index (PCOMP) rose 1 percent to 5,097.30, the sharpest gain since March 16. The measure climbed 1.2 percent this week.
Builders: Robinsons Land Corp. (RLC) , a developer of shopping malls and residential towers, rose 2.6 percent to 16.78 pesos, the most since March 16. DMCI Holdings Inc. (DMC) , the nation’s biggest construction company, increased 2.6 percent to 54.40 pesos, the steepest advance since March 23. Central bank data showed loans for construction and real estate in February grew at the fastest pace in three months, a sign property demand is picking up.
Miners: Lepanto Consolidated Mining Co.’s Class-A shares (LC PM), which are reserved for Filipinos, added 1.4 percent to 1.43 pesos after a measure of metal prices rose by the most in seven weeks. Geograce Resources Philippines Inc. (GEO) advanced 4.8 percent to 87 centavos, the steepest gain since March 5. The London Metals Index, a basket of six metals traded in London, rose 1.9 percent yesterday, the most since Feb. 21.
I-Remit Inc. (I) , the nation’s biggest non-bank provider of money transfer services, increased 2.8 percent to 2.54 pesos, the biggest increase since March 28. The company doubled its net income to 136 million pesos ($3.2 million) last year, a stock- exchange filing showed.
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