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FTSE 100 Index (FTSE)

QUOTE AND NEWS
Data Points: Asia & Europe
Wall Street Journal  9 hrs ago  Comment 
The Nikkei Stock Average fell 127.33 points, or 1.32% to 9549.47. The Shanghai Composite added 17.38 points, or 0.53% to 3320.61. The FTSE 100 declined 74.43 points, or 1.39%, to 5267.70. The DJ STOXX 600 lost 4.13 points, or 1.65% to 245.52.
Lowest since Nov 10
Business Times - Malaysia  10 hrs ago  Comment 
LONDON: European shares fell for a third straight session yesterday to a one-week closing low as a bearish analyst comment on semi-conductor stocks hurt technology shares and falling commodity prices pressured oils and miners. The...
Reckitt rides out falling FTSE on hopes of a major deal
guardian.co.uk  10 hrs ago  Comment 
Reckitt Benckiser, the Cillit Bang and Dettol group, has bucked a falling market following reports it was close to announcing a major deal. A merger with US group Colgate Palmolive was one suggestion, as was a takeover of Durex maker SSL...
Wall Street woes weaken FTSE 100
guardian.co.uk  11 hrs ago  Comment 
An opening fall on Wall Street has sent the FTSE 100 sharply lower after a fairly calm morning for the leading index. The Dow Jones Industrial Average has fallen nearly 150 points, with technology shares under pressure after a downgrade of the...
European markets weaken as rally ebbs; Euro and Pound plunging
FX Street  Nov 19  Comment 
FXstreet.com (Barcelona) - European markets have opened Thursday's session on weak note as the current year's rally seems to have lost steam with U.S. economy giving signs of weakness amid economic recovery. Euro and Pound are dropping...
Reckitt shines on poor Footsie day
Financial Times  Nov 19  Comment 
Reckitt Benckiser was the main talking point in a grim London market on Thursday as rumours revived that it has been planning a significant deal
KL shares close 0.12pc up, Maxis by 8.4pc
Business Times - Malaysia  Nov 19  Comment 
THE Kuala Lumpur Composite Index gained 1.55 points Thursday to close at 1,276.65. Maxis Bhd, Malaysia's biggest mobile-phone operator, gained 8.4 per cent on its Kuala Lumpur trading debut after attracting more bids than stock on sale during...
FTSE
FX Street  Nov 19  Comment 
FTSE Dec Contract FTSE had a narrow range again yesterday thus leaving the outlook unchanged... Resistance still remains at 5365/73. If the market can break through this 5365/73 barrier then there is a good chance of trading higher with 5386 then...
European shares edge lower in early trading
MarketWatch  Nov 19  Comment 
European shares edged lower in early trading on Thursday, with miners giving back some recent gains as commodity futures slipped. Of companies updating investors, yogurt maker Danone shares fell 4.7% after it trimmed its mid-term sales goal,...
FTSE firms 'failing women bosses'
BBC News  Nov 19  Comment 
The percentage of women on the boards of FTSE 100 companies has stalled in the past year, a report shows.
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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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