Philippine Equity Movers: Energy Development, Rockwell Land
The Philippine Stock Exchange Index (PCOMP) rose fell 0.7 percent to 5,158.14, the lowest close since April 20. The gauge has fallen 2.6 percent this week, the steepest loss since the week ended Sept. 23.
Energy Development Corp. (EDC) , the nation’s biggest power producer using geothermal energy, advanced 1 percent to 5.96 pesos, ending a four-day loss. The company forecast this year’s profit may range between 6.8 billion pesos ($160 million) and 7 billion pesos, a stock exchange filing showed.
Rockwell Land Corp. (ROCK) rose to 4.90 pesos after listing 6.23 billion shares by introduction. The indicative listing price for the shares were at 1.46 pesos each, documents filed with the bourse showed. The company is targeting profit this year to exceed 1 billion pesos, President Nestor Padilla said.
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