The shares of Andrew Tan-led distillery Emperador Inc. surged on the back of the recent index recomposition of the Philippine Stock Exchange (PSE). Emperador landed itself as the top gainer on Friday after its shares climbed 7.65 percent or 78 centavos to P10.98 apiece. Philstocks Financial Inc. research analyst Claire Alviar told The Manila Times that Emperador’s shares jumped after the PSE announced Emperador would replace Semirara Mining and Power Corp. in the main index beginning today (Monday). Last August 7, the PSE reported the results of its index review from July 2019 to June 2020, which included the replacement of the shares of Semirara with Emperador’s starting August 17. Alviar sees Emperador going up this week as investors and funds tracking the main board would continue to accumulate shares.

Source: Manila Times August 16, 2020 16:07 UTC