PSE stock index (PSEi) composition – March 2014

Wondering why the stock price of Manila Electric Co. or Meralco (MER) has been increasing in the past days? In just one week, MER’s stock price has risen by 10.6%, closing at PHP282.00 in yesterday’s trading.

One reason could be the announcement that the power utility will soon be joining the benchmark Philippine Stock Exchange index (PSEi) starting next month.

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Meralco (MER) stock surges 275% due to Ang-MVP bidding war

If you’re currently following the Philippine stock market, you’re most probably aware of the continuous surge in the price of Meralco (Stock Code: MER).

The stock of the power utility company was one of the Philippine Stock Exchange (PSE)’s biggest gainers during the first half of 2009.

As of July 31, it was up by a staggering 275% from its P58.00 price in January. In the month of July alone, the stock more than doubled in value, closing at an all-time high of P295.00 in July 29.

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