Philippine Stock Movers: Metropolitan Bank, Phoenix Petroleum
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.
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