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 PM), 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 PM) and Philippine National Bank (PNB PM) 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 PM) 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.