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FTSE 100 Index (FTSE)

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Xstrata leads the way as FTSE stays in positive territory
guardian.co.uk  5 hrs ago  Comment 
Xstrata is on the rise in the wake of yesterday's figures, helping to lift the mining sector and indeed the whole market. Xstrata has added 31.2p to £10.15, with Morgan Stanley for one making very positive noises. The bank said: We think the...
London Markets: British Land climbs as London shares rise
MarketWatch  7 hrs ago  Comment 
Property-development firms advance in the top British share index. A rise in property values helps British Land swing to a profit.
Miners keep london shares positive
Financial Times  8 hrs ago  Comment 
British Land lifts property sector
guardian.co.uk  8 hrs ago  Comment 
British Land and the banks have helped leading shares in London get off to a bright start despite Wall Street falling below 10,000 overnight for the first time since early November. British Land shares added 9.5p to 447.6p after reporting an 18%...
FTSE finishes higher as miners outweigh sovereign debt fears
guardian.co.uk  Feb 8  Comment 
Leading shares have been caught in a tug of war, with miners pulling the market higher but financial shares sinking on fears about European sovereign debt. In the end the optimists won the day, and the FTSE 100 finished 31.41 points higher at...
European shares move off early highs
MarketWatch  Feb 8  Comment 
European shares moved back from early highs on Monday, with financials under selling pressure. Shares of ING Group fell 1.6% while Credit Suisse shares were down 1.2%. Overall, the U.K. FTSE 100 index edged up 0.1% at 5,066.66, the German DAX...
Randgold and Xstrata provide fillip for mining shares and FTSE
guardian.co.uk  Feb 8  Comment 
Mining groups have given the market a bright start to the week after a couple of positive updates and a rebound in commodity prices. Randgold Resources is leading the way, up 315p to £45.24 as the West African gold miner announced a 79% jump in...
Xstrata resumes pay-out after 19 months
Financial Times  Feb 8  Comment 
The mining group is to start paying dividends again after a break of a year-and-a-half as it reports a 60% drop in annual profits, reflecting the impact of the recession on commodities demand and prices
CIMB in medium-term consolidation phase
Business Times - Malaysia  Feb 7  Comment 
TECHNICAL pullbacks on the New York Stock Exchange and regional equity markets sent the FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) below its critical support of 1,250 points when it closed at 1,247.90 last Friday. The FBM KLCI...
FTSE falters again but Liberty and Compass move higher
guardian.co.uk  Feb 5  Comment 
Liberty International, the property group behind Earls Court and Olympia, the Gateshead Metro Centre and Lakeside Thurrock, was in demand yesterday as it unveiled proposals for a demerger. Liberty was a bright spot as the market again fell...
Bull market detractors are on horns of a dilemma
Times Online  Feb 5  Comment 
So, was that it? Has the bull run in shares that began a little less than a year ago come snorting to a halt? It looks very much like it. The FTSE 100 has fallen nearly 9 per cent since last month’s high — its best reading since the collapse...



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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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