Carlsberg hits record high after entering MSCI Global Standard Index

KUALA LUMPUR (Feb 13): Carlsberg Brewery (M) Bhd jumped RM3.12 or 9.34% to its all-time high of RM36.52 on the news that the brewery has been included in the MSCI Global Standard Index.

This is the largest single day jump on the brewery stock in recent years. Buying interest has been persistent on Carlsberg since early last year. It has gained some 50% since January 2019.

The gain of RM3.12 has expanded Carlsberg's market capitalisation to over RM10 billion.

Trading volume swelled to 3.12 million shares as at 4.15pm.

Among the analysts tracked byBloomberg, four have issued "Buy" calls on Carlsberg, while seven have "Hold" or "Sell" calls. The consensus target price is RM28.54.

Meanwhile, British American Tobacco (M) Bhd (BAT)'s share price came down after it has been removed from the MSCI Global Index. The company has, however, been included in MSCI Malaysia Small-Cap Index.

The stock, which has been under selling pressure for long, tumbled 78 sen or 6.33% today to RM11.54. Given the meltdown on its share price, BAT's dividend yield is currently at historical high of 11.42%.

According toBloombergdata, of the 17 analysts covering BAT, eight have assigned a "Buy" call and the remaining nine are "Hold" and "Sell" calls. The consensus target price is RM16.84.

See also:Carlsberg in, BAT out of MSCI Global Standard Index