Philippine Stock Movers: Metropolitan Bank, Phoenix Petroleum

Shares of the following companies had unusual moves in Philippine (PASHR) trading. Stock symbols are in parentheses and prices are as of the close of trading in Manila.

The Philippine Stock Exchange Index (PCOMP) fell 0.8 percent to 4,769.62.

Metropolitan Bank & Trust Co. (MBT PM), the nation’s second-largest bank by assets, declined 3 percent to 80.50 pesos, the sharpest loss since Jan. 13. The stock was rated “underperform” in initial coverage at DBP-Daiwa SB Capital Markets.

Phoenix Petroleum Philippines Inc. (PNX) increased 7.5 percent to 13.12 pesos, its highest close since May 10. The gasoline retailer said it will pay a 10 centavos-a-share dividend and a separate 50 percent stock dividend. The shares have jumped 19 percent in the past five days.

To contact the reporter on this story: Ian Sayson in Manila at isayson@bloomberg.net

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

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.