PSE Market Summary:
The Philippine Stocks Exchange was down by 4.76 or .09% to close at 5,186.05. Mining & Oil led the advancers by 3.88%, while industrial declined most, by .67%.
PX Estimated to Lose P 1 Billion since Padcal Suspension
Philex Mining Corporation is estimated to have lost around P 1 billion potential revenues due to the suspension of its operations. PX was not able to produce ore and minerals since incidents of water leak were reported after during the heavy rains earlier last month. Philex have already generated P 2.36 billion in net income for the two quarters, but is widely believed to miss its one-year target of P 5 billion.