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Philippine Equity Movers: BDO Unibank Inc., Manila Water Co.

May 9 (Bloomberg) -- Shares of the following companies had unusual moves in Philippine trading. Stock symbols are in parentheses and prices are as of the close of trading in Manila.

The Philippine Stock Exchange Index fell 0.5 percent to 5,214.79.

BDO Unibank Inc. (BDO PM), 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 PM), 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).

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

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