Euro Stoxx 50

From Wikipedia, the free encyclopedia
  (Redirected from Dow Jones Euro Stoxx 50)
Jump to navigation Jump to search
EURO STOXX 50 Index
Foundation 26 February 1998
Operator STOXX
Constituents 50
Type Mega cap
Market cap €1.962 trillion (March 2016)[1]
Weighting method Free-float market capitalization
Related indices STOXX Europe 50
Website stoxx.com

The EURO STOXX 50 is a stock index of Eurozone stocks designed by STOXX, an index provider owned by Deutsche Börse Group. According to STOXX, its goal is "to provide a blue-chip representation of Supersector leaders in the Eurozone". It is made up of fifty of the largest and most liquid stocks. The index futures and options on the EURO STOXX 50, traded on Eurex, are among the most liquid such products in Europe and the world.

The EURO STOXX 50 was introduced on 26 February 1998. Its composition is reviewed annually in September. The index is available in several currency (EUR, USD, CAD, GBP, JPY) and return (Price, Net Return, Gross Return) variant combinations. Calculation takes place every 15 seconds between 09:00 CET and 18:00 CET for the EUR and USD variants of any return type, while the CAD, GBP and JPY variants are available as end-of-day calculation only (18:00 CET).

The EURO STOXX 50 Index is derived from the 19 EURO STOXX regional Supersector indices and represents the largest super-sector leaders in the Eurozone in terms of free-float market capitalization. The index captures about 60% of the free-float market capitalization of the EURO STOXX Total Market Index (TMI), which in turn covers about 95% of the free-float market capitalization of the represented countries.

The EURO STOXX 50 serves as the basis for single sub-indices such as the EURO STOXX 50 ex Financials, which excludes all companies assigned to the ICB code 8000. It is one of the most liquid indices for the Eurozone: an ideal underlying for financial products or for benchmarking purposes. Additionally, the index serves as an underlying for many strategy indices, such as the EURO STOXX 50 Risk Control Indices. Buffers are used to achieve the fixed number of components and to maintain stability of the indices by reducing index composition changes. Selection methodology ensures a stable and up-to-date index composition. Fast-entry and fast-exit rules ensure the index accurately represents the performance of only the biggest and most liquid stocks.

Development[edit]

Performance of the Euro Stoxx 50 stock market index since 1998 (end-of-year points)[2]

The following table shows the end-of-year values of the Euro Stoxx 50 index since 1986.[3]

A record closing high of 5,464.43 was recorded on 6 March 2000.

Year Year end
value
Change,
in points
Change,
in %
1986 900.82
1987 648.13 −252.69 −28.05
1988 861.36 213.23 32.90
1989 1098.49 237.13 27.53
1990 858.72 −239.77 −21.83
1991 1000.00 141.28 16.45
1992 1033.51 33.51 3.35
1993 1433.34 399.83 38.69
1994 1320.59 −112.75 −7.87
1995 1506.82 186.23 14.10
1996 1850.32 343.50 22.80
1997 2531.99 681.67 36.84
1998 3342.32 810.33 32.00
1999 4904.46 1562.14 46.74
2000 4772.39 −132.07 −2.69
2001 3806.13 −966.26 −20.25
2002 2386.41 −1419.72 −37.30
2003 2760.66 374.25 15.68
2004 2951.24 190.58 6.90
2005 3578.93 627.69 21.27
2006 4119.94 541.01 15.12
2007 4399.72 279.78 6.79
2008 2451.48 −1948.24 −44.28
2009 2966.24 514.76 21.00
2010 2792.82 −173.42 −5.85
2011 2316.55 −476.27 −17.05
2012 2635.93 319.38 13.79
2013 3109.00 473.07 17.95
2014 3146.43 37.43 1.20
2015 3267.52 121.09 3.85
2016 3291 23 0.7
2017 3504 213 6.47

Calculation[edit]

The calculation of the indices employ the Laspeyres formula, which measures price changes against a fixed base quantity weight:[4]

where:

t = Time the index is computed
n = Number of companies in the index
pit = Price of company (i) at time (t)
sit = Number of shares of company (i) at time (t)
ffit = Free float factor of company (i) at time (t)
cfit = Weighting cap factor of company (i) at time (t)
xit = Exchange rate from local currency into index currency for company (i) at time (t)
Mt = Free-float market capitalization of the index at time (t)
Dt = Divisor of the index at time (t)

Changes in weights due to corporate actions are distributed proportionally across all index components. The index divisors, which is adjusted to maintain the continuity of the values of the index across changes due to corporate actions, are calculated as follows:

where ΔMCt+1 = The difference between the closing market capitalization of the index and the adjusted closing market capitalization of the index: for companies with corporate actions effective at time (t+1), the free-float market capitalization is calculated with adjusted closing prices, the new number of shares at time (t+1) and the free-float factor at time (t+1) minus the free-float market capitalization calculated with closing prices, number of shares at time (t) and free-float factor at time (t).

Composition[edit]

As of May 2018, Euro Stoxx 50 consists of the following companies:[citation needed]

Ticker Main listing Name Corporate form Registered
office
Industry Founded
ADS.DE FWBADS Adidas Germany Aktiengesellschaft  Germany Sportwear 1924
AD.AS EuronextAD Ahold Delhaize Netherlands Naamloze vennootschap  Netherlands Retail 2016 (1867)
AI.PA EuronextAI Air Liquide France Société Anonyme  France Chemistry 1902
AIR.PA EuronextAIR Airbus European Union Societas Europaea  Netherlands Aerospace 1970
ALV.DE FWBALV Allianz European Union Societas Europaea  Germany Insurance 1890
ABI.BR EuronextABI Anheuser-Busch InBev Belgium Société Anonyme/
Naamloze vennootschap
 Belgium Food and beverage 2008 (1366/1888/1852/1895)
ASML.AS EuronextASML ASML Holding Netherlands Naamloze vennootschap  Netherlands Technology 1984
CS.PA EuronextCS AXA France Société Anonyme  France Insurance 1816
BBVA.MC BMADBBVA Banco Bilbao Vizcaya Argentaria Spain Sociedad Anónima  Spain Banking 1857
SAN.MC BMADSAN Banco Santander Spain Sociedad Anónima  Spain Banking 1857
BAS.DE FWBBAS BASF European Union Societas Europaea  Germany Chemistry 1865
BAYN.DE FWBBAYN Bayer Germany Aktiengesellschaft  Germany Chemistry 1863
BMW3.DE FWBBMW BMW Germany Aktiengesellschaft  Germany Automotive industry 1916
BNP.PA EuronextBNP BNP Paribas France Société Anonyme  France Banking 2002 (1848/1872)
CRG.IR ISEQCRG CRH Republic of Ireland Public Limited Company  Ireland Construction and materials 1970 (1936)
SGO.PA EuronextSGO Compagnie de Saint-Gobain France Société Anonyme  France Construction and materials 1665
DAI.DE FWBDAI Daimler AG Germany Aktiengesellschaft  Germany Automotive industry 2007 (1926)
DPW.DE FWBDPW Deutsche Post Germany Aktiengesellschaft  Germany Logistics 1995
DTE.DE FWBDTE Deutsche Telekom Germany Aktiengesellschaft  Germany Telecommunication 1995
ENEL.MI BITENEL Enel Italy Società per azioni  Italy Electric utility 1962
ENGI.PA EuronextENGI Engie France Société Anonyme  France Electric utility 2008
ENI.MI BITENI Eni Italy Società per azioni  Italy Petroleum 1953
EOAN.DE FWBEOAN E.ON European Union Societas Europaea  Germany Electric utility 2000
EI.PA EuronextEI Essilor International France Société Anonyme  France Pharmaceutical industry 1849
FRE.DE FWBFRE Fresenius SE European Union Societas Europaea  Germany Health care equipment 1912
BN.PA EuronextBN Groupe Danone France Société Anonyme  France Food and beverage 1919
IBE.MC BMADIBE Iberdrola Spain Sociedad Anónima  Spain Electric utility 1992 (1907/1944)
ITX.MC BMADITX Inditex Spain Sociedad Anónima  Spain Retail 1985
INGA.AS EuronextINGA ING Group NV Netherlands Naamloze vennootschap  Netherlands Banking 1991
ISP.MI BITISP Intesa Sanpaolo Italy Società per azioni  Italy Banking 2007 (1563)
OR.PA EuronextOR L'Oréal France Société Anonyme  France Personal and household goods 1909
MC.PA EuronextMC LVMH Moët Hennessy Louis Vuitton European Union Societas Europaea  France Personal and household goods 1987 (1743 / 1765 / 1854)
MUV2.DE FWBMUV2 Munich Re Germany Aktiengesellschaft  Germany Insurance 1880
NOKIA.HE Nasdaq HelsinkiNOKIA Nokia Finland Julkinen osakeyhtiö  Finland Technology 1865
ORA.PA EuronextORA Orange S.A. France Société Anonyme  France Telecommunication 1988
PHIA.AS EuronextPHIA Philips Netherlands Naamloze vennootschap  Netherlands Personal and household goods 1891
SAF.PA EuronextSAF Safran France Société Anonyme  France Aerospace 2005
SAN.PA EuronextSAN Sanofi France Société Anonyme  France Pharmaceutical industry 2004 (1834/1899/1973)
SAP.DE FWBSAP SAP SE European Union Societas Europaea  Germany Technology 1972
SU.PA EuronextSU Schneider Electric European Union Societas Europaea  France Goods and Services 1836
SIE.DE FWBSIE Siemens Germany Aktiengesellschaft  Germany Goods and Services 1847
GLE.PA EuronextGLE Société Générale SA France Société Anonyme  France Banking 1864
TEF.MC BMADTEF Telefónica Spain Sociedad Anónima  Spain Telecommunication 1924
FP.PA EuronextFP TOTAL S.A. France Société Anonyme  France Petroleum 1924
UL.PA EuronextUL Unibail-Rodamco European Union Societas Europaea  France Real estate 2018 (1960)
UNA.AS EuronextUNA Unilever Netherlands Naamloze vennootschap  Netherlands Food and beverage 1930 (1867/1885)
DG.PA EuronextDG Vinci SA France Société Anonyme  France Construction and materials 1899
VIV.PA EuronextVIV Vivendi France Société Anonyme  France Media 1853
VOW3.DE FWBVOW Volkswagen Group Germany Aktiengesellschaft  Germany Automotive industry 1937

See also[edit]

References[edit]

External links[edit]