Guide to Philippine Stocks Market: New PSEi Benchmark Effective September 16, 2013

Guide to Philippine Stocks Market: New PSEi Benchmark Effective September 16, 2013: A look at the new Philippine Stocks Exchange, Inc. main index as of September 16, 2013: 1.   Aboitiz Equity Ventures (AEV) 2.   Aboitiz P...

Water Company Shares Pulled Down by Rate Rebasing

Shares of PSE-listed water companies declined as The Metropolitan Waterworks and Sewerage System cut Maynilad Water Services, Inc and Manila Water Co., Inc's average basic water charges by 4.82% and 29.47% respectively.

Shares of Metro Pacific Investments Corp (PSE:MPI), the parent of Maynilad, fell by 13.73% or .70 centavos two days after the rate cut was announced. Manila Water (PSE:MWC) dropped by 17.57%, hitting its one-year low at 25 before closing at 26.5. DM Consunji Inc., (PSE:DMC) which partly owns Maynilad fell 5.99% to close at 45.5. The parent of Manila Water, Ayala Corporation (PSE:AC) also shed 2.79% and closed at 558 per share.