Dow Jones index adds San Miguel

MANILA, Philippines – Local diversifying conglomerate San Miguel Corp. would been added to the emerging markets index of Dow Jones, a closely watched indicator of performance of largest stocks within countries, sectors and regions.

San Miguel is the recent addition to the Dow Jones Emerging Markets Consumer Goods Titans 30 Index, the Dow Jones announced on its website on Tuesday, February 14 (Wednesday in Manila).

Dow Jones said China’s Shanda Interactive Entertainment Ltd. was removed from the index after it was acquired by Premium Lead Co. Ltd. of the British Virgin Islands, allowing San Miguel to take over the vacant slot.

The changes will take effect on Friday, February 17.

The Dow Jones Index has over 130,000 indexes covering equity, fixed-income, futures, options, private equity, commodity, currency and other alternative asset class indexes.

The Dow Jones Emerging Markets Consumer Goods Titans 30 Index measures the performance of 30 leading emerging-market companies in the Consumer Goods Industry as defined by the proprietary classification system used by Dow Jones Indexes.  

Stocks are selected to the index based on float-adjusted market capitalization, size, revenue and net profit.

As of 31 January 2012, the index’s 3 top components, as measured by their adjusted weight within the index, are Companhia de Bebidas das Americas ADS (9.78%, Brazil), Astra International (7.53%, Indonesia) and ITC Ltd. (6.31%, India).

San Miguel is the leading food and drinks business in Asia. Since 2007, it has been diversifying away from these core businesses and into high growth and heavy industries in the Philippines, including power, energy, infrastructure telecommunications, aviation, among others

San Miguel is the only Philippine company in the index. – Rappler.com