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× Water firms’ woes drag market lower

The local stock barometer tumbled on Thursday as investors continued to digest the impact of the government's decision to terminate the water concession of Manila Water Co. and Maynilad Water Services after 2022.

Metro Pacific Investments Corp. (MPIC), parent of Maynilad, slid by another 15.67 percent, while its partner DMCI, lost 1.17 percent.

MPIC was the day's most actively traded counter…