PSE bares list of firms comprising stock index
By Jenniffer B. Austria
March 18, 2006
The Philippine Stock Exchange has released a new set of companies that will comprise the bourse’s index.
Starting April 3, the Philippine Stock Exchange index (PSEi) will be composed of Aboitiz Equity Ventures Inc., ABS-CBN Broadcasting Corp., Ayala Corp., Ayala Land Inc., Banco de Oro Universal Bank, Bank of the Philippine Islands, Belle Corp., Benpres Holdings Corp., Digital Telecommunications Philippines Inc., Empire East Land Holdings Inc., Equitable PCI Bank Inc., Filinvest Land Inc., First Philippine Holdings Corp. and Globe Telecom.
Also part of the index are International Container Terminal Services Inc., Jollibee Foods Corp., Lepanto Consolidated Mining Co., Manila Electric Co., Manila Mining Corp., Manila Water Co. Inc., Megaworld Corp., Metro Pacific Corp., Metropolitan Bank and Trust Co., Petron Corp., Philex Mining Corp., Philippine Long Distance Telephone Co., San Miguel Corp., SM Investments Corp. and SM Prime Holdings.
Removed from the index were Holcim Philippines Inc., and Pilipino Telephone Corp.
PSE president and chief executive officer Francis Lim said the exchange determined the PSEi composition in a transparent manner it had observed in the old PSE Composite Index.
“We at the PSE believe that the PSEi review, which we intend to conduct every six months, will promote more stock market growth and, in turn, enhance the value of the stocks,” Lim said.
The composition of five of the six sectors under the PSE’s classification standard was also changed after the PSE revised the criteria in selecting the list of firms for the sectoral indices.
The PSEi, which is the new name of the exchange index, serves as the barometer of stock price movement at the PSE. Inclusion in the basket of PSEi stocks, as well as in the six sectors, carries prestige, because they dictate the overall movement of the indices.
http://www.manilastandardtoday.com/?page=business04_mar18_2006
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