Philippine Stocks: BDO Bank, IP E-Game Ventures, Megaworld
The Philippine Stock Exchange Index (PCOMP) fell 1.8 percent to 4,930.63. The gauge has decreased 1.3 percent this week, a second straight weekly loss.
IP E-Game Ventures Inc. (EG) , a publisher of online games, jumped 7.1 percent to 4.5 centavos, the sharpest gain since May 31. BDO Unibank Inc. (BDO)’s trust and investments group acquired 910 million shares of IP E-Game, a stock-exchange filing showed. BDO declined 3.1 percent to 61.05 pesos, the lowest close since June 5.
Megaworld Corp. (MEG) , a builder of residential and office towers, advanced 2.1 percent to 1.97 pesos, the highest close since June 1. The company’s sales may continue to rise this year as demand for housing and office space grows, President Andrew Tan said in the company’s annual report to shareholders. Megaworld held its annual general meeting today.
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