FTSE 100 Index (FTSE)

QUOTE AND NEWS
newratings.com  Jan 29  Comment 
VIENNA (dpa-AFX) - U.K. shares followed Asian peers higher on Friday as investors cheered higher oil prices and the Bank of Japan's negative interest rate move. The central bank's shock announcement underscored investor optimism that...
The Economic Times  Jan 29  Comment 
Traders added that the Bank of Japan's move would put pressure on the U.S. Federal Reserve to adopt a cautious stance over any future interest rate rises in the United States.
BBC News  Jan 29  Comment 
London shares rise sharply on Friday, boosted by the the Bank of Japan, which cut interest rates to negative, and a strong start on Wall Street.
MarketWatch  Jan 29  Comment 
Investors in U.K. stocks are cheering the Bank of Japan’s unexpected move into negative interest rates, but the FTSE 100 is still facing a loss for the month.
Financial Times  Jan 28  Comment 
Volatile oil prices leave travel stocks at the foot of FTSE 100
newratings.com  Jan 28  Comment 
LONDON (dpa-AFX) - U.K. shares swung between gains and losses on Thursday as oil prices ticked higher after falling in Asian trade and investors digested the Federal Reserve's latest stance on interest rates. The Fed gave a cautious...
MarketWatch  Jan 28  Comment 
U.K. stocks end a volatile session firmly lower on Thursday, tracking steep losses across European stock markets where downbeat data and a strong euro zapped investor optimism.
Financial Times  Jan 27  Comment 
FTSE 100 climbs as oil groups continue to rebound
newratings.com  Jan 27  Comment 
VIENNA (dpa-AFX) - U.K. stocks fell notably in early trade on Wednesday as oil resumed declines to head back towards $30 a barrel and a slew of European companies such as BASF and Novartis reported disappointing quarterly results. The focus...
MarketWatch  Jan 27  Comment 
U.K. stocks stage a late-session rebound on Wednesday, with energy companies leading the charge north after a turnaround in oil prices.




 
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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 September 2011[4]

  1. AB Foods
  2. Admiral Group
  3. Aggreko
  4. AMEC
  5. Anglo American (AAUK)
  6. Antofagasta (ANTO-LN)
  7. ARM Holdings
  8. Associated British Foods
  9. AstraZeneca plc (AZN-LN)
  10. Autonomy Corporation
  11. Aviva
  12. BAE Systems (BAESY)
  13. BG Group PLC (BRGYY)
  14. BHP Billiton (BHP)
  15. BP (BP)
  16. BT GROUP (BT)
  17. Barclays (BCS)
  18. British American Tobacco Industries (BTI)
  19. British Land Company
  20. British Sky Broadcasting Group (BSY)
  21. Burberry Group
  22. Cairn Energy
  23. Capita Group
  24. Capital Shopping Centres Group
  25. Carnival (CCL)
  26. Centrica
  27. Compass Group
  28. Diageo (DEO)
  29. Essar Energy
  30. Eurasian Natural Resources Corporation
  31. Experian PLC (EXPN-LN)
  32. Fresnillo
  33. G4S
  34. GKN
  35. GlaxoSmithKline (GSK)
  36. Glencore International
  37. HSBC Holdings (HBC)
  38. Hammerson
  39. Hargreaves Lansdown
  40. ICAP
  41. IMI
  42. Imperial Tobacco Group (ITY)
  43. Inmarsat
  44. International Consolidated Airlines Group
  45. Intercontinental Hotels Group (IHG)
  46. International Power (IPR)
  47. ITV
  48. Intertek Group
  49. Investec
  50. Johnson Matthey (JMAT)
  51. Kazakhmys (KAZ-LN)
  52. Kingfisher
  53. Land Securities
  54. Legal & General
  55. Lloyds Banking Group
  56. Lonmin
  57. Man Group
  58. Marks & Spencer
  59. Morrisons
  60. National Grid Transco (NGG)
  61. Next
  62. Old Mutual PLC (OML-LN)
  63. Pearson (PSO)
  64. Petrofac
  65. Prudential Financial (PRU)
  66. RSA Insurance Group
  67. Rangold
  68. Reckitt Benckiser
  69. Reed Elsevier (RUK)
  70. Resolution
  71. Rexam (REXMY)
  72. Rio Tinto (RTP)
  73. Rolls-Royce Holdings
  74. Royal Bank of Scotland Group
  75. Royal Dutch Shell (RDS'A)
  76. SABMiller plc (SBMRY)
  77. Sage Group
  78. Sainsbury
  79. Schroders
  80. Scottish and Southern Energy
  81. Serco Group
  82. Severn Trent
  83. Shire Pharmaceuticals Group
  84. Smith & Nephew
  85. Smiths Group
  86. Standard Chartered PLC (STAN-LN)
  87. Standard Life
  88. Tate & Lyle
  89. Tesco (TESO)
  90. Tullow Oil
  91. Unilever (UL)
  92. United Utilities (UU)
  93. Vedanta Resources
  94. Vodafone AirTouch Public Limited Company (VOD)
  95. WPP Group (WPPGY)
  96. Weir Group
  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. [1]
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