The Philippine Stock Exchange Index fell 0.3 percent to 4,665.70.
Manila Electric Co. (MER PM) dropped 2.9 percent to 266 pesos, set for the biggest loss since Nov. 29. The nation’s largest power distributor is ready to invest more in the next three years even though it will have a lower distribution rate, the BusinessMirror reported, citing Ivanna de la Peña, the company’s first vice president.
Philex Mining Corp. (PX PM), the nation’s largest metals producer, lost 0.9 percent to 23.40 pesos, the biggest drop since Dec. 29. Spot gold fell for the first time in four days, dropping as much as 0.4 percent to $1,731.65 an ounce, while copper futures on the London Metal Exchange declined as much as 1.2 percent to $8,420.50 a metric ton.
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