Bloomberg News

Philippine Stocks Movers: BDO, Metrobank, Puregold Price Club

January 09, 2012

Jan. 9 (Bloomberg) -- The following companies may have unusual price changes in Philippine trading. Stock symbols are in parentheses and share prices are as of the close in Manila.

The Philippine Stock Exchange Index rose 1.3 percent to 4,541.60, the highest close since Aug. 1.

Banks: BDO Unibank Inc. (BDO PM), the nation’s largest lender by assets, advanced 4.2 percent to 62 pesos, the highest close since Aug. 4. Metropolitan Bank & Trust Co. (MBT PM) gained 4.6 percent to 75 pesos, the highest close since Aug. 18.

Philippine lenders are well-capitalized and profitable, putting them in a strong position before the full implementation of the Basel III accord by 2014 that seeks to bolster the ability of financial institutions to manage risks, central bank Deputy Governor Nestor Espenilla said Jan. 6.

Puregold Price Club Inc. (PGOLD PM) lost 0.6 percent to 17.90 pesos. The retailer was cut to “hold” from “buy” at Philippine Equity Partners Inc.

--Editors: Chan Tien Hin, Allen Wan

To contact the reporter on this story: Cecilia Yap at cyap19@bloomberg.net; Weiyi Lim in Singapore at wlim26@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net


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