Bloomberg News

Philippine Equity Movers: Calapan Ventures, Manila Electric

July 05, 2012

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

The Philippine Stock Exchange Index (PCOMP) rose 0.3 percent to 5,369.98, a record close.

Calapan Ventures Inc. (H2O) (H2O PM) climbed 3.8 percent to 2.44 pesos, heading for the sharpest gain since June 19. The company said it completed the sale of shares in Kristal Water Source Corp., paving the way for Calapan to focus on its main water business.

Manila Electric Co. (MER) , the nation’s largest power retailer, rose 1.8 percent to 267 pesos, the highest close since March 19. The company may raise charges this month, the Philippine Daily Inquirer reported, citing unidentified people. Chief Operating Officer Oscar Reyes couldn’t be reached at his office for comment.

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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