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Philippine Stocks: Ayala, Manila Electric, Philippine Telephone

June 1 (Bloomberg) -- Shares of the following companies had unusual moves in Philippine trading. Stock symbols are in parentheses and prices are as of the close in Manila.

The Philippine Stock Exchange Index fell 0.6 percent to 5,062.44. The gauge has advanced 2.8 percent this week, the most since the week ended March 16.

Ayala Corp. (AC PM), owner of the nation’s biggest property, rose 2.9 percent to 455 pesos, the highest close since May 11. The company acquired 10 percent of Ho Chi Minh City Infrastructure Investment Joint Stock Co., an exchange filing showed.

Manila Electric Co. (MER PM), the nation’s biggest power retailer, surged 6.7 percent to 240 pesos, the sharpest gain since Aug. 10. The company said a court upheld a settlement accord it reached with National Power Corp. over a power-supply dispute.

Philippine Long Distance Telephone Co. (TEL PM), one of Manila Electric’s shareholders, increased 3.4 percent to 2,420 pesos, the steepest gain since Jan. 11.

-- Editor: Ravil Shirodkar

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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