Philippines Stocks to watch july 26 2011, Apex, Eton Properties, Manila Electric

Indonesia stock info - Philippines Stocks to watch july 26 2011, Apex, Eton Properties, Manila Electric ; Shares of the following companies had unusual moves in Philippine trading. Stock symbols are in parentheses and prices are as of 11:05 a.m. in Manila.

The Philippine Stock Exchange Index slid 1.35, or less than 0.1 percent, to 4,479.15.

Gold producers: Apex Mining Co.’s Class A shares (APX PM), which are reserved for Filipinos, jumped 5.3 percent to 4 pesos, set for the sharpest gain since July 13, after the price of the precious metal advanced to an all-time high. Philex Mining Corp. (PX PM), the nation’s biggest metals producer, advanced 1.5 percent to 24.45 pesos, snapping a four-day slump.

Gold for immediate delivery climbed to a record $1,624.07 an ounce yesterday. It traded at $1,614.65 an ounce today.

Eton Properties Philippines Inc. (ETON PM) gained 7.5 percent to 3.60 pesos, bound for the highest close since Feb. 15. The company said the Securities and Exchange Commission approved the purchase of a property for about 4 billion pesos of shares in Eton.

Manila Electric Co. (MER PM), the nation’s biggest power retailer, increased 0.7 percent to 280 pesos, its first gain in three days. The utility expects its so-called core net income to rise 15 percent this year to 14 billion pesos ($330 million), President Manuel Pangilinan said. Manila Electric’s first-half profit rose 26 percent to 6.1 billion pesos, a company statement showed.


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