OMX Nordic 40 (OMXN40)

Mondo Visione  Dec 7  Comment 
The NASDAQ OMX Group, Inc. (NASDAQ:NDAQ) announces today the results of the semi-annual review of the OMX Nordic 40 index, (NASDAQ OMX Stockholm: OMXN40), which will become effective on December 21, 2009.




 
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The OMX Nordic 40 index is a market capitalization weighted stock index mapping 40 of the largest and the most liquid stocks on the virtual OMX Nordic Exchange. This Pan-reigonal index tracks stocks from Denmark, Finland, Sweden and Iceland. The OMXN40 is a market weighted price index primarily constructed for derivatives trading[1]. The base date for the index is December 28, 2001, with a base value of 1000[2].

Weighting and Calculations

The OMX Nordic indices are calculated on basis of a market adjusted cap formula devised by the four Nordic Exchanges. The index calculation is done on basis of their previous value from the previous period, similar to the DAX Indices on the Frankfurt Stock Exchange. Thus for a given company i and at time t: Image: Omx nordic calc.jpg[3]

Where:

  • It = Index level.
  • qi,t = Number of shares of company.
  • pi,t = Price in currency of a share.
  • ri,t = Foreign exchange rate of index currency to any given currency.
  • ji,t = accounts for any adjustment factors for the share price of stocks due to corporate actions.

Composition

Eligibility

To be selected for the Nordic 40, the stocks must satisfy the following criteria[4]:

  • All the stocks must be highly liquid and amenable to a free floated market adjusted cap.
  • All the stocks must have been listed on one of the Nordic Exchanges for atleast six months previously in Euro.
  • The 40 largest securities according to free float adjusted market cap are first included. If all of the 40 selected securities are among the top 45 most liquid securities they are all selected as index constituents. If one or more securities are not among the top 45 liquid companies, the securities will be replaced by the security that is closest to qualify.

Sector Breakdown

Shown below is the distribution of the various sectors represented by the companies on the OMX Nordic[5]. The market adjusted cap was introduced primarily to limit effect of Nokia on the Index:

Image: Omx_weight_graph.jpg

List of companies

Given below are the list of companies on the Nordic 40 as of 31st October 2008[6]:

COMPANY NAME TICKER (SK:) Industry Sector Weighting Currency Nordic Exchange
ABB Ltd ABB Electrical Equipment 2.48% SEK Nordic Exchange Stockholm
Alfa Laval ALFA Machinery 1.08% SEK Nordic Exchange Stockholm
ASSA ABLOY B ASSA B Building Products 0.91% SEK Nordic Exchange Stockholm
Atlas Copco A ATCO A Machinery 1.99% SEK Nordic Exchange Stockholm
Atlas Copco B ATCO B Machinery 1.05% SEK Nordic Exchange Stockholm
AstraZeneca AZN Pharmaceuticals 2.23% SEK Nordic Exchange Stockholm
Carlsberg B CARL B Beverages 1.54% DKK Nordic Exchange Copenhagen
Danske Bank DANSKE Commercial Banks 3.19% DKK Nordic Exchange Copenhagen
Ericsson B ERIC B Communications Equipment 6.21% SEK Nordic Exchange Stockholm
FLSmidth & Co. FLS Construction and Engineering 1.08% DKK Nordic Exchange Copenhagen
Fortum Oyj FUM1V Electric Utilities 3.84% EUR Nordic Exchange Helsinki
Hennes & Mauritz B HM B Apparel Retail 5.46% SEK Nordic Exchange Stockholm
Investor B INVE B Diversified Financial Services 1.75% SEK Nordic Exchange Stockholm
A.P. Moller - Maersk B MAERSK B Marine Transportation 2.15% DKK Nordic Exchange Copenhagen
Metso Oyj MEO1V Machinery 1.11% EUR Nordic Exchange Helsinki
Nordea Bank NDA SEK Commercial Banks 5.06% SEK Nordic Exchange Stockholm
Neste Oil Oyj NES1V Oil and Gas 0.65% EUR Nordic Exchange Helsinki
Nokia Oyj NOK1V Telecom 16.58% EUR Nordic Exchange Helsinki
Novo Nordisk B NOVO B Pharmaceuticals 4.90% DKK Nordic Exchange Copenhagen
Nokian Renkaat Oyj NRE1V Auto components 1.07% EUR Nordic Exchange Helsinki
Outokumpu Oyj OUT1V Metals and Mining 0.86% EUR Nordic Exchange Helsinki
Rautaruukki Oyj RTRKS Metals and Mining 0.72% EUR Nordic Exchange Helsinki
Sampo A SAMAS Insurance 2.23% EUR Nordic Exchange Helsinki
Sandvik SAND Machinery 2.96% SEK Nordic Exchange Stockholm
SCA B SCA B Paper and Paper Products 1.51% SEK Nordic Exchange Stockholm
SCANIA B SCV B Machinery 1.13% SEK Nordic Exchange Stockholm
SEB A SEB A Commercial Banks 1.85% SEK Nordic Exchange Stockholm
Sv. Handelsbanken A SHB A Commercial Banks 2.39% SEK Nordic Exchange Stockholm
Skanska B SKA B Construction and Engineering 1.06% SEK Nordic Exchange Stockholm
SKF B SKF B Machinery 1.14% SEK Nordic Exchange Stockholm
SSAB A SSAB A Metals and Mining 1.15% SEK Nordic Exchange Stockholm
Stora Enso R STERV Paper and Paper Products 0.93% EUR Nordic Exchange Helsinki
Swedbank A SWED A Commercial Banks 1.93% SEK Nordic Exchange Stockholm
Swedish Match SWMA Tobacco 0.94% SEK Nordic Exchange Stockholm
Tele2 B TEL2 B Telecom 1.11% SEK Nordic Exchange Stockholm
TeliaSonera TLSN Telecom 3.54% SEK Nordic Exchange Stockholm
UPM-Kymmene Oyj UPM1V Paper and Paper Products 1.55% EUR Nordic Exchange Helsinki
Volvo B VOLV B Machinery 2.90% SEK Nordic Exchange Stockholm
Vestas Wind Systems VWS Electrical Equipment 4.67% DKK Nordic Exchange Copenhagen
Wärtsilä Oyj Abp WRT1V Machinery 1.12% EUR Nordic Exchange Helsinki

References

  1. Nordic Index Methodology
  2. OMX Nordic 40 facts
  3. Nordic Index Calculations
  4. Nordic Index methodology
  5. OMX Nordic Indexes
  6. OMX Nordic Indexes
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