Philippines Stocks: Atlas, East Asia Power, Philex Mining
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 0.6 percent to 4,350.09.
Miners: Atlas Consolidated Mining & Development (AT) Corp fell 2.3 percent to 23.25 pesos, ending a four-day, 13 percent rally after the price of copper declined. Philex Mining Corp. (PX) , the nation’s biggest metals producer, fell 0.8 percent to 24.30 pesos.
Copper for delivery in three months slid as much as 0.4 percent to $9,533.50 a metric ton on the London Metal Exchange today, after falling for two straight days.
East Asia Power Resources Corp. (PWR) surged 33 percent to 1.28 pesos, the highest close since Nov. 14, 2000. Century Properties Inc. completed the purchase of shares in East Asia Power equivalent to a 93.6 percent stake for 127.4 million pesos ($3 million), a stock exchange filing showed. The shares jumped 22 percent yesterday.
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