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Philippine Equity Movers: Banco De Oro Unibank, Manila Electric

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 rose 18.99, or 0.5 percent, to 4,255.44, snapping three days of losses.

Banco De Oro Unibank Inc. (BDO) , the Philippines’ largest lender, dropped 1.7 percent to 57 pesos, the steepest loss in two weeks. The lender is not interested in Philippine Bank of Communications (PBC) and Philippine National Bank (PNB) and it’s “premature” to talk about other purchases, President Nestor Tan said in an interview with ABS-CBN News Channel today.

Philippine Bank of Communications slid 1.4 percent to 73 pesos. Philippine National Bank sank 3.3 percent to 59 pesos.

Manila Electric Co. (MER) advanced 1.4 percent to 269 pesos, the highest close in more than four months. Prices of electricity delivered by the Southeast Asian nation’s largest power retailer will rise this month due to higher generation charges, it said in an e-mailed statement yesterday.

To contact the reporter on this story: Cecilia Yap in Manila at cyap19@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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