Euronext 100 (N100-FR)

QUOTE AND NEWS
Mondo Visione  Mar 31  Comment 
NYSE Euronext (NYX) announced today that Cees Vermaas (45) will become the new chairman of the Managing Board of NYSE Euronext Amsterdam and member of the Managing Board of Euronext N.V., succeeding Joost van der Does de Willebois (51), who has...




 
TOP CONTRIBUTORS

Euronext 100 is the blue chip index of the Euronext N.V. and it spans about 80% of the major companies on the exchange. It's different from most other indices, because it spans out to companies from different countries within Europe.

Euronext 100 comprises of the largest and most liquid stocks traded on the exchange. Each stock must trade more than 20 percent of its issued shares for them to be chosen, this is monitored over a period of one year. The index is reviewed quarterly through a size and liquidity analysis of the investment universe. The 150 companies that are ranked immediately below them make up the constituents of the Next 150 index. The base level of both indices was set at 1,000 as at 31 December 1999.[1]

Weighting and Calculations

They involve the total market capitalization of the companies weighted by their effect on the index, so the larger stocks would make more of a difference to the index as compared to a smaller market cap company. This is also called the free float method. The basic formula for any index is (be it capitalization weighted or any other stock index)[2]:

  • Index level= Σ(Price of stock* Number of shares)*Free float factor/ Index Divisor.

The Free float Adjustment factor represents the proportion of shares that is freefloated as a percentage of issued shares and then its rounded up to the nearest mulitple of 5% for calculation purposes. To find the free-float capitalization of a company, first find its market cap (number of outstanding shares x share price) then multiply its free-float factor. The free-float method, therefore, does not include restricted stocks, such as those held by company insiders.

While one might track this portfolio’s value in dollar terms, it would probably be an unwieldy number – for example, the S&P 500 market value is roughly $11.8 trillion. Rather than deal with ten or more digits, the figure is scaled to a more easily handled number, currently around 1250. Dividing the portfolio market value by a factor, usually called the Index divisor, does the scaling.

Continuity in index values is maintained by adjusting the divisor for all changes in the constituents’ share capital after the base date. This includes additions and deletions to the index, rights issues, share buybacks and issuances, and spin-offs. The divisor’s time series is, in effect, a chronological summary of all changes affecting the base capital of the index. The divisor is adjusted such that the index value at an instant just prior to a change in base capital equals the index value at an instant immediately following that change[3].


Composition

The composition of Euronext 100 as of 16th October, 2008[4]:

COMPANY NAME Center
AccorParis
AegonAmsterdam
Aéroports de ParisParis
AholdAmsterdam
Air France-KLM (AFLYY)Paris
Air LiquideParis
Akzo NobelAmsterdam
Alcatel-Lucent (ALU)Paris
AlstomParis
ArcelorMittal (MT)Paris
ASML HoldingAmsterdam
AXA (AXA)Paris
Banco Comercial PortuguêsLisbon
Banco Espírito SantoLisbon
BelgacomBrussels
BNP Paribas SA (BNPQY)Paris
BouyguesParis
BrisaLisbon
CapgeminiParis
CarrefourParis
Christian Dior SAParis
Ciments FrançaisParis
CNP AssurancesParis
ColruytBrussels
CorioAmsterdam
Crédit AgricoleParis
Dassault Systemes, S.A. (DASTY)Paris
Delhaize GroupBrussels
DexiaBrussels
DSMAmsterdam
EADSParis
EiffageParis
ÉDFParis
Energias de PortugalLisbon
ErametParis
EssilorParis
EurazeoParis
FortisAmsterdam
France Telecom S.A. (FTE)Paris
Galp EnergiaLisbon
Gaz de FranceParis
Groupe Bruxelles LambertBrussels
Groupe CasinoParis
Groupe Danone (GDNNY)Paris
Heineken InternationaAmsterdam
HermèsParis
IcadeParis
ImerysParis
InBevBrussels
ING Group, N.V. (ING)Amsterdam
JCDecauxParis
KBC BankBrussels
KlepierreParis
KPNAmsterdam
L'OrealParis
LafargeParis
Lagardere GroupParis
LegrandParis
LVMHParis
MichelinParis
MobistarBrussels
NatixisParis
Neuf CegetelParis
NYSE Euronext (NYX)Paris
Pages JaunesParis
Pernod RicardParis
Koninklijke Philips Electronics, N.V. (PHG)Amsterdam
Portugal TelecomLisbon
PPRParis
PSA Peugeot CitroënParis
PublicisParis
Randstad HoldingAmsterdam
Reed ElsevierAmsterdam
RenaultParis
Royal Dutch Shell (RDS'A)Amsterdam
SafranParis
Saint-GobainParis
Sanofi-Aventis SA (SNY)Paris
Schneider ElectricParis
SES S.A.Paris
Societe Generale (SCGLY)Paris
SodexoParis
SolvayBrussels
STMicroelectronics N.V. (STM)Paris
SuezParis
TechnipParis
TF1 GroupParis
Thales GroupParis
TPG, N.V. (TNT)Amsterdam
TomTomAmsterdam
Total S.A. (TOT)|Paris
UCBBrussels
Unibail-RodamcoParis
Unilever (UL)Amsterdam
VallourecParis
Veolia EnvironnementParis
VinciIParis
Vivendi (EPA: VIV)Paris
Wendel InvestissementParis
Wolters KluwerAmsterdam

References

  1. Euronext Indices
  2. Capitlization method methodology
  3. Capitalization Weighted Description
  4. Euronext->Composition
Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki