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FTSE 100 Index (FTSE)

QUOTE AND NEWS
Standard Chartered leads the way as FTSE breaks losing streak
guardian.co.uk  10 hrs ago  Comment 
Leading shares broke their four day losing streak, with Standard Chartered topping the pile on hopes it would avoid the worst of the regulatory issues facing the rest of the sector. Its shares added 36p to £14.81 as Citigroup reiterated its buy...
FTSE tempers falls as recession ends, but pound dips
guardian.co.uk  Jan 26  Comment 
Leading shares have picked up slightly but the pound has fallen further after official figures showed the UK did emerge from recession in the fourth quarter, but only just. The FTSE 100 is now down 17.07 points at 5243.24, compared to 5236...
Miners fall back on global concerns, as FTSE falls for fifth day
guardian.co.uk  Jan 26  Comment 
Out of recession or not, the UK market is continuing its recent decline, with miners among the main fallers on global concerns. With the Nikkei down nearly 2%, investors have decided to continue taking profits. Fears that continuing monetary...
Strong Greek banks fail to lift Eurofirst
Financial Times  Jan 25  Comment 
European shares extended losses for a fourth session taking them to their lowest level in more than a month
Legal & General lifts financials but FTSE falls for fourth day
guardian.co.uk  Jan 25  Comment 
Leading shares have suffered their fourth day of decline despite a recovery in the financial sector. Legal and General led the market risers, up 2.8p to 78.95p as Credit Suisse moved its recommendation from neutral to outperform and its target...
Losses extended
Business Times - Malaysia  Jan 25  Comment 
LONDON: European shares extended their losses to a fourth day yesterday, with drugmakers falling, and US home sales data casting doubt on the economic recovery. The pan-European FTSEurofirst 300 index of top shares fell 0.5 per cent to end...
Charts: Gold Set to Push Higher
CNBC  Jan 25  Comment 
The price of gold could push higher from current levels, but the outlook for the FTSE and DJIA is less positive, Sandy Jadeja from ODL Securities told CNBC Monday.
AE Multi may pause for consolidation
Business Times - Malaysia  Jan 25  Comment 
SHARE prices on Bursa Malaysia continued to pull back in tandem with the weak performances on the regional stock markets yesterday. Overall declining counters outpaced advancing counters by 441 to 266. The FTSE Bursa Malaysia Kuala Lumpur...
PricewaterhouseCoopers Research Reveals UK Stock Market Is Closer To Fair Value Than Other Leading Markets
Mondo Visione  Jan 25  Comment 
UK-specific findings include: The UK stock market not materially overvalued, in contrast to eight other leading equity markets including the US, Germany and the Netherlands The UK's FTSE 100 bounced back from a poor 2008 with a 22%...
FTSE flat; banks' bounce offsets energy weakness
Reuters  Jan 25  Comment 
A partial recovery in banks and mining stocks offset weaker energy stocks to leave Britain's top share index flat in early trade on Monday as investors reassessed the implications of proposed curbs on banks from the White House.



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 This article describes an index that measures the performance of an exchange, industry or a geographic region. View articles referencing this index.
 
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Advait Pandey


Also called the footsie, the Financial Times Stock Exchange 100 is a market capitalization weighted index representing the top 100 blue chip companies on the London Stock Exchange. The index is said to map more than 80% of the total capitalization in the United Kingdom. Stocks are free-float weighted to ensure that only the investable opportunity set is included within the index. [1]. The FTSE group manages the Index, which in turn is a joint venture between the Financial Times and the London Stock Exchange.

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 of the FTSE 100

The List of companies that comprise the FTSE as of 16th October 2008[4]

  1. 3i
  2. Admiral Group
  3. Alliance Trust
  4. AMEC
  5. Anglo American (AAUK)
  6. Antofagasta (ANTO-LN)
  7. Associated British Foods
  8. AstraZeneca plc (AZN-LN)
  9. Autonomy Corporation
  10. Aviva
  11. BAE Systems (BAESY)
  12. BG Group PLC (BRGYY)
  13. BHP Billiton (BHP)
  14. BP (BP)
  15. BT GROUP (BT)
  16. Barclays (BCS)
  17. British Airways ADR (BAIRY)
  18. British American Tobacco Industries (BTI)
  19. British Energy (BGY-LN)
  20. British Land
  21. British Sky Broadcasting Group (BSY)
  22. Bunzl (BNL)
  23. Cable & Wireless
  24. Cadbury Schweppes (CSG)
  25. Cairn Energy
  26. Capita Group
  27. Carnival (CCL)
  28. Centrica
  29. Cobham
  30. Compass Group
  31. Diageo (DEO)
  32. Drax Group
  33. Eurasian Natural Resources Corporation
  34. Experian PLC (EXPN-LN)
  35. Firstgroup PLC (FGP-LN)
  36. Fresnillo
  37. Friends Provident
  38. G4S
  39. GlaxoSmithKline (GSK)
  40. Heritage Financial Group (HBOS)
  41. HSBC Holdings (HBC)
  42. Hammerson
  43. ICAP
  44. Imperial Tobacco Group (ITY)
  45. Inmarsat
  46. Intercontinental Hotels Group (IHG)
  47. International Power (IPR)
  48. Invensys
  49. Johnson Matthey (JMAT)
  50. Kazakhmys (KAZ-LN)
  51. Kingfisher
  52. Land Securities
  53. Legal & General
  54. Liberty International
  55. Lloyds Tsb Group (LYG)
  56. London Stock Exchange Group PLC (LSE-LN)
  57. Lonmin
  58. Man Group
  59. Marks & Spencer
  60. Morrisons
  61. National Grid Transco (NGG)
  62. Next
  63. Old Mutual PLC (OML-LN)
  64. Pearson (PSO)
  65. Petrofac
  66. Prudential Financial (PRU)
  67. RSA Insurance Group
  68. Reckitt Benckiser
  69. Reed Elsevier (RUK)
  70. Rexam (REXMY)
  71. Rio Tinto (RTP)
  72. Rolls Royce
  73. Royal Bank of Scotland
  74. Royal Dutch Shell (RDS'A)
  75. SABMiller plc (SBMRY)
  76. Sage Group
  77. Sainsbury
  78. Schroders
  79. Scottish and Southern Energy
  80. Severn Trent
  81. Shire Pharmaceuticals Group
  82. Smith & Nephew
  83. Smiths Group
  84. Stagecoach Group
  85. Standard Chartered PLC (STAN-LN)
  86. Standard Life
  87. Tesco (TESO)
  88. Thomas Cook
  89. Thomson Reuters Corporation (TRI)
  90. TUI Travel
  91. Tullow Oil
  92. Unilever (UL)
  93. United Utilities (UU)
  94. Vedanta Resources
  95. Vodafone AirTouch Public Limited Company (VOD)
  96. WPP Group (WPPGY)
  97. Whitbread
  98. Wolseley PLC (WOS-LN)
  99. Wood Group
  100. Xstrata PLC (XTA-LN)

References

  1. ↑ FTSE Factsheet
  2. ↑ Capitlization method methodology
  3. ↑ Capitalization Weighted Description
  4. ↑ FTSE 100 index companies
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