The Philippine Stock Exchange Index (PCOMP) fell 0.5 percent to 5,214.79.
BDO Unibank Inc. (BDO) , the nation’s biggest bank by assets, declined 2.6 percent to 63.75 pesos, the sharpest loss since April 3. The Philippine Daily Inquirer reported the company revised an offer to acquire the assets and deposits of Export & Industry Bank. Luis Reyes, head of investor relations at BDO, who was quoted in the Inquirer report, couldn’t be reached at his office for comment.
Manila Water Co. (MWC) , the water company that supplies half of the Philippine capital, rose 2.4 percent to 25.50 pesos, the sharpest gain since March 16. Philippine Equity Partners Inc. retained its buy rating on the stock, citing the company’s first-quarter earnings. Manila Water said yesterday first- quarter profit rose 64 percent to 1.34 billion pesos ($31.6 million).
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