FTSE 100 Index (FTSE)

QUOTE AND NEWS
Financial Times  8 hrs ago  Comment 
Best quarterly performance for FTSE since start of 2013
newratings.com  Sep 30  Comment 
VIENNA (dpa-AFX) - U.K. shares fell sharply on Friday, as Deutsche Bank's woes deepened and the price of oil took a tumble after recent sharp gains in reaction to the tentative OPEC deal to curb oil production. Economic reports painted a...
Mondo Visione  Sep 30  Comment 
China A-shares remain on Watch List for future inclusion as a Secondary Emerging market Argentina, Nigeria and Romania join Watch List for possible reclassification FTSE Russell provides progress update on current Watch List countries ...
guardian.co.uk  Sep 30  Comment 
Outsourcing group leads FTSE fallers after Thursday’s shock profit warning Leading shares have dropped sharply, with banking shares among the main losers after continuing concerns about Deutsche Bank. But outsourcing group Capita takes the...
MarketWatch  Sep 30  Comment 
U.K.’s banks shake off concerns over Deutsche Bank late in Friday’s session, but commodity companies are stuck in the red and pull the benchmark index lower.
Wall Street Journal  Sep 29  Comment 
The FTSE Russell index group has decided against adding China’s local-currency shares to its global benchmarks, reflecting investor concern over the openness and transparency of China’s stock markets.
newratings.com  Sep 29  Comment 
VIENNA (dpa-AFX) - U.K. shares rallied on Thursday, with energy stocks taking the lead, after OPEC members surprised market participants with a preliminary deal to curb output. Investor sentiment remains upbeat despite oil prices declining in...
Reuters  Sep 29  Comment 
Britain's top share index rose near a 1-1/2 year high on Thursday, boosted by a rise in its heavyweight energy sector as a decision by OPEC to curb output for the first time since 2008 lifted oil prices.
MarketWatch  Sep 29  Comment 
U.K. stocks post solid gains, with resource companies leading the charge higher as investors cheer a decision by OPEC to cap production.
newratings.com  Sep 28  Comment 
VIENNA (dpa-AFX) - U.K. shares bounced back on Wednesday, as oil prices edged up ahead of a closely-watched OPEC meeting and BoE deputy chief suggested that more easing will be required to prevent a sharp slowdown. The benchmark FTSE 100 was up...




 
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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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