MANILA, Jan 25 (Reuters) - Manila Electric Co (Meralco) fell over 5 percent by mid-session on Monday as investors sold the stock following a state pension fund's sale of its stake in the utility firm.
Shares of Meralco hit 166 pesos apiece, down 5.68 percent, at 0224 GMT, underperforming the main index which was down 2.24 percent.
Traders said investors sold down Meralco after state pension fund GSIS said it had sold its 4 percent stake in the utility for an undisclosed price.
(Reporting by Rosemarie Francisco; Editing by Valerie Lee) ((rosemarie.francisco@thomsonreuters.com; +63 2 841-8937; Reuters Messaging: rosemarie.francisco.reuters.com@reuters.net)) Keywords: MERALCO/ (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Shares of Meralco hit 166 pesos apiece, down 5.68 percent, at 0224 GMT, underperforming the main index which was down 2.24 percent.
Traders said investors sold down Meralco after state pension fund GSIS said it had sold its 4 percent stake in the utility for an undisclosed price.
(Reporting by Rosemarie Francisco; Editing by Valerie Lee) ((rosemarie.francisco@thomsonreuters.com; +63 2 841-8937; Reuters Messaging: rosemarie.francisco.reuters.com@reuters.net)) Keywords: MERALCO/ (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.