Philippine Equity Movers: DMCI, Globe Telecom, Robinsons Land
The Philippine Stock Exchange Index (PCOMP) rose 0.7 percent to 4,925.67.
Builders: Robinsons Land Corp. (RLC) added 2.4 percent to 16.56 pesos, snapping a two-day, 9.6 percent slump. DMCI Holdings Inc. (DMC) climbed 3.1 percent to 53.60 pesos, the most since May 17. Inflation slowed in May, giving the central bank room to cut interest rates should Europe’s debt crisis worsen and threaten the nation’s growth.
Globe Telecom Inc. (GLO) , the nation’s second-largest mobile phone company, rose 1 percent to 1,050 pesos, snapping a two-day, 8 percent loss. The company’s postpaid users may reach two million this year, Manila Times reported, citing Martha Sazon, head of Globe’s postpaid services. Sazon couldn’t be reached in her office for comment.
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