Philippine Stocks: Ayala, Manila Electric, Philippine Telephone
The Philippine Stock Exchange Index (PCOMP) 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) , 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) , 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) , one of Manila Electric’s shareholders, increased 3.4 percent to 2,420 pesos, the steepest gain since Jan. 11.
-- Editor: Ravil Shirodkar
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