Bloomberry Resorts Corp., the parent company of Solaire Resort and Casino, has been added to the main index of the Philippine Stock Exchange, local media reports.
In a statement issued on Friday, Philippine Stock Exchange, Inc. (PSE) said Bloomberry will replace Petron Corp. in the main index, effective February 18.
The index is seen as a “barometer” of the stock market, and its movements are seen as reflective of investor confidence.
The PSE said that companies included in the index are among the top companies in terms of liquidity and market capitalization.
PSE president and CEO Ramon Monzon said the changes came following a review of the indices.
“The regular review of indices reflects the dynamic changes in company performance vis-a-vis the standards set by the Exchange. In turn, these indices represent the investment opportunities in the Philippine stock market,” PSE President and Chief Executive Officer Ramon S. Monzon said in a statement.
Besides the mining and oil index, all other sectoral indices also saw their composition changed.
In the service index, Melco Resorts and Entertainment (Philippines) Corp was removed.