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FTSE 100 Index (FTSE)

QUOTE AND NEWS
Wall Street sell-off casts shadow in Europe
Financial Times  1 hr ago  Comment 
European equities are set to follow Asia lower on Thursday after Wall Street lost all its gains late in the session as the glow from an initially well-received Fed statement wore off
Data Points: Asia & Europe
Wall Street Journal  Nov 4  Comment 
The Nikkei Stock Average gained 41.36 points, or 0.42% to 9844.31. The Shanghai Composite added 14.31 points, or 0.46% to 3128.54. The FTSE 100 rose 70.65 points, or 1.40% to 5107.86. The DJ STOXX 600 added 4.23 points, or 1.80% to 239.13.
Bright start on Wall Steet as retailers support FTSE after Marks news
guardian.co.uk  Nov 4  Comment 
Ahead of tonight's US Federal Reserve statement after its latest meeting, Wall Street is moving higher again, helping to underpin the FTSE 100's earlier gains. The US market is up more than 70 points in early trading, while the FTSE is 58.08...
London Markets: Metals producers, retailers lift London
MarketWatch  Nov 4  Comment 
British shares climbed on Wednesday as metals producers rallied and as two major retailers outlined better-than-expected trading performances.
Aviva leads FTSE higher as corporate news pleases investors
guardian.co.uk  Nov 4  Comment 
Aviva is leading the FTSE 100 risers as the market recovers some poise after yesterday's volatile session. The insurer has just reported in line life and pension sales for the first nine month of the year - albeit showing an 11% decline. It said...
Banks, miners lift FTSE; M&S, Next shine
Reuters  Nov 4  Comment 
Britain's top share index gained 0.9 percent early on Wednesday as commodity stocks and banks recovered some ground lost the previous session and with retailers led higher by Marks & Spencer after firm results.
Rose calls an end to downturn
Financial Times  Nov 4  Comment 
Sir Stuart Rose, chief executive of M&S, said improving consumer sentiment and the retailer’s moves to cut costs and improve its offering helped interim profits beat forecasts
FTSE rides on American tailwind
Financial Times  Nov 4  Comment 
Shares in Evolution fell 3 per cent on news that one of its big shareholders was looking to sell its stake
Equities rebound after gains in Asia
Financial Times  Nov 4  Comment 
A rebound from early losses on Wall Street and broad gains in Asian markets lifted European equities on Wednesday ahead of a raft of economic data. Gold hit a renewed record high.
KL stocks mixed on lack of catalysts
Business Times - Malaysia  Nov 4  Comment 
The FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) added 0.56 point to close at 1,242.32, after opening 0.15 point lower at 1,241.61.
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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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Sr. Director
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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