Euronext 100 (N100-FR)

Mondo Visione  Jul 3  Comment 
Euronext, the primary exchange in the Eurozone, has won the Global Investor / ISF Investment Excellence Award for Exchange of the Year. The exchange was revealed as the global winner during the official award ceremony at the Grange St. Paul’s...
Mondo Visione  May 7  Comment 
Reuters reported today that former Euronext CEO Dominique Cerutti, in an emailed message to the company's employees, a copy of which was seen by Reuters, that his early depature was in the best interests of Euronext to ensure its...
Mondo Visione  May 5  Comment 
Euronext N.V. today announced that it has decided to accelerate its transition plan following the announcement by Dominique Cerutti of his resignation on 22 April, and that it will be appointing Jos Dijsselhof as interim Chief Executive Officer of...
Mondo Visione  Apr 22  Comment 
Euronext today announced that Dominique Cerutti, CEO of Euronext N.V. and Chairman of the Managing Board, will leave the company on 15 July 2015.  Mr. Cerutti, who joined NYSE Euronext in 2009 as President and Deputy CEO1, has decided to take a...
Mondo Visione  Dec 19  Comment 
Euronext N.V. today announced that, following its Extraordinary General Meeting (EGM) that took place today, all the resolutions on the agenda were approved. The resolutions were as follows: Resolution to draw up and publish the annual...
Mondo Visione  Sep 17  Comment 
Euronext N.V. ("Euronext") today announced it has succesfully completed its listing on Euronext’s regulated market in Lisbon following the admission to trading of 70,000,000 ordinary shares of Euronext. This follows last week’s approval of the...
Mondo Visione  Aug 20  Comment 
Today Euronext announced that trading in equity options on Euronext N.V. shares will start on the Amsterdam derivatives market as of Thursday 28th August.  The new options will be listed in the Spotlight Options section, Euronext’s special...
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...


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].


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

Aéroports de ParisParis
Air France-KLM (AFLYY)Paris
Air LiquideParis
Akzo NobelAmsterdam
Alcatel-Lucent (ALU)Paris
ArcelorMittal (MT)Paris
ASML HoldingAmsterdam
AXA (AXA)Paris
Banco Comercial PortuguêsLisbon
Banco Espírito SantoLisbon
BNP Paribas SA (BNPQY)Paris
Christian Dior SAParis
Ciments FrançaisParis
CNP AssurancesParis
Crédit AgricoleParis
Dassault Systemes, S.A. (DASTY)Paris
Delhaize GroupBrussels
Energias de PortugalLisbon
France Telecom S.A. (FTE)Paris
Galp EnergiaLisbon
Gaz de FranceParis
Groupe Bruxelles LambertBrussels
Groupe CasinoParis
Groupe Danone (GDNNY)Paris
Heineken InternationaAmsterdam
ING Group, N.V. (ING)Amsterdam
KBC BankBrussels
Lagardere GroupParis
Neuf CegetelParis
NYSE Euronext (NYX)Paris
Pages JaunesParis
Pernod RicardParis
Koninklijke Philips Electronics, N.V. (PHG)Amsterdam
Portugal TelecomLisbon
PSA Peugeot CitroënParis
Randstad HoldingAmsterdam
Reed ElsevierAmsterdam
Royal Dutch Shell (RDS'A)Amsterdam
Sanofi-Aventis SA (SNY)Paris
Schneider ElectricParis
SES S.A.Paris
Societe Generale (SCGLY)Paris
STMicroelectronics N.V. (STM)Paris
TF1 GroupParis
Thales GroupParis
TPG, N.V. (TNT)Amsterdam
Total S.A. (TOT)|Paris
Unilever (UL)Amsterdam
Veolia EnvironnementParis
Vivendi (EPA: VIV)Paris
Wendel InvestissementParis
Wolters KluwerAmsterdam


  1. Euronext Indices
  2. Capitlization method methodology
  3. Capitalization Weighted Description
  4. Euronext->Composition
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