THE Philippine Stock Exchange Index lost 9.62, or 0.3 percent to 3,181.05 at the close in Manila, declining for the fourth time in five days. The following are among the most active stocks in the Philippine market Wednesday.

Property stocks: The shares advanced as record crude-oil prices fanned concern that interest rates will have to rise to keep inflation in check, denting real estate demand. Oil prices in New York Tuesday rose 4.7 percent to settle at $100.01 a barrel for the first time.

Robinsons Land Corp. (RLC PM), the fourth-largest Philippine builder by market value, slid 50 centavos, or 4.1 percent, to P11.75. Megaworld Corp. (MEG PM), the second-largest homebuilder by market value, lost 10 centavos, or 3.9 percent, to 2.50.

Globe Telecom Inc. (GLO PM), a unit of Ayala Corp., added P30, or 1.9 percent, to 1,605, extending Tuesday’s 1.9-percent advance. The company’s dividend yield of 7.5-percent exceeds the 5.27-percent yield of the government’s one-year Treasury bill on a February 4 auction.

“Telecom stocks are the new safe haven as investors flock to them for the dividend,” said James Lago, head of research at Westlink Global Equities Inc. in Manila.

Petron Corp. (PCOR PM), the country’s biggest oil refiner, rose 10 centavos, or 1.7 percent, to P5.90, its highest since January 2. Investors are betting Petron will raise its dividend this year, Westlink’s Lago said. Philippine Energy Development Corp. (EDC PM), the nation’s biggest geothermal produce, rose 30 centavos, or 4.9 percent, to 6.40. The company approved a regular cash dividend of 12.5 centavos per share and a special dividend of 14.5 centavos per share. (Bloomberg)

PAL Holdings Inc., the entity which controls Philippine Airlines (PAL), said earnings fell by more than three-fourths after it paid US-based Boeing Co. some $63 million as part of a program to acquire new aircraft.

Eternal Plans inaugurates new product

LEADING preneed company Eternal Plans celebrates 27 years in the industry by launching a new life plan, intended to help boost sales by 20 percent this year.

NETWORK Appliance Inc. (NetApp), a network storage and data management company, will soon widen its product presence in the Philippines by appointing Wordtext Systems Inc. (WSI), the country’s leading software and hardware vendor, as its sole distributor.

ETON Properties Philippines Inc. (EPPI), the listed real-estate arm of the Lucio Tan group, has created a new vehicle called Belton Communities Inc. to serve low- to middle-income homebuyers.

THE Philippine Stock Exchange Index lost 9.62, or 0.3 percent to 3,181.05 at the close in Manila, declining for the fourth time in five days. The following are among the most active stocks in the Philippine market Wednesday.

The Lopez-owned Red Vulcan Holdings Corp. paid P58.50 billion in acquiring through public bidding in November last year 15 billion common shares,