US EditionMeralco declines despite news of higher electricity sales - BusinessWorld Online
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Meralco declines despite news of higher electricity sales - BusinessWorld Online
By Abigail Marie P. Yraola, Deputy Research Head THE SHARE PRICE of Manila Electric Co. (Meralco) fell last week despite news that its energy sales grew on strong demand from residential and commercial sectors. The stock closed at P551.50 on Friday, 4.9% lower than a week earlier and bucking the 0.5% gain in the industrial index and 2.2% rise in the benchmark Philippine Stock Exchange (PSE) index. The share has increased 13% this year compared w…
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