CNVRG, MPI, GTCAP: Stocks of Dennis Anthony Uy, MVP, Ty-blings could get bumped off MSCI

Three heavyweight stocks are rumored to be on the chopping block of the MSCI Global Standard Index.

Analysts said Converge ICT (CNVRG) of Dennis Anthony Uy, Metro Pacific Investments (MPI) led by Manny V Pangilinan, and GT Capital Holdings (GTCAP) of the Ty family could be erased from the MSCI – an international equity index which tracks stocks across 33 markets – during its next rebalancing in November.

Is this enough to turn the tide? Dennis Anthony Uy to spend P1.5B to buy back nosediving Converge shares

MPI and GTCAP have been on the MSCI since 2013 and 2015, while CNVRG joined the closely tracked market barometer four months ago.

Analysts blamed CNVRG’s steep fall on September 22(top loser for the day, down 11.3 percent to P14.92) on speculation of its deletion from the MSCI.

MPI fell slightly by .55 percent to P3.60 while GTCAP inched up .96 percent to P485.

Maynilad fined P9.26M over water service interruptions

West zone concessionaire Maynilad Water Services Inc. of Manuel V. Pangilinan-led Metro Pacific Investments Corp., has been fined P9.26 million by the Metropolitan Waterworks and Sewerage System (MWSS) for prolonged water service interruptions.

BRAFE GOLF set to tee off at at Forest Hills

The core group is composed of chairman JR Hernandez, Ting Yupangco, George Elazegui, Bong Africa, Roy Peña, Randy Nonato and BRAFE GOLF founder Albert MG Garcia, owner of the Megafiber brand.

BRAFE GOLF set to tee off at at Forest Hills

The core group is composed of chairman JR Hernandez, Ting Yupangco, George Elazegui, Bong Africa, Roy Peña, Randy Nonato and BRAFE GOLF founder Albert MG Garcia, owner of the Megafiber brand.

Germany raids properties belonging to Russian oligarch

German investigators on Wednesday raided properties belonging to a Russian oligarch suspected of tax evasion and breaking EU sanctions, police and prosecutors said, with sources naming billionaire Alisher Usmanov as the target.