Euro Stoxx 50

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Performance of the Euro Stoxx 50 stock market index since 1998 (end-of-year points)[1]
Foundation 26 February 1998
Operator STOXX
Constituents 50
Type Mega cap
Market cap €1.893 trillion (March 2014)[2]
Weighting method Free-float market capitalization
Related indices STOXX Europe 50

The EURO STOXX 50 is a stock index of Eurozone stocks designed by STOXX, an index provider owned by Deutsche Börse Group and SIX 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 February 26 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) variants 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 capitalizaion 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.


Record values[edit]

Closing high March 6, 2000 5,464.43

End-of-year values[edit]

Die Tabelle zeigt die jährliche Entwicklung des bis 1986 zurückgerechneten EURO STOXX 50 (Kursindex).[3]

Year No. of points Change, in points Change, in pct.
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 3140,24 31,24 1,00


The calculation of the indices employ the Laspeyres formula (see STOXX Calculation Guide), which measures price changes against a fixed base quantity weight:

Index_t=\frac{\displaystyle \sum_{i=1}^n (p_{it}\cdot s_{it}\cdot ff_{it}\cdot cf_{it}\cdot x_{it})}{D_{t}}=\frac{M_{t}}{D_{t}}


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:

D_{t+1}=D_t \cdot \frac{\displaystyle \sum_{i=1}^n (p_{it}\cdot s_{it}\cdot ff_{it}\cdot cf_{it}\cdot x_{it})\pm \Delta MC_{t+1}}{\displaystyle \sum_{i=1}^n (p_{it}\cdot s_{it}\cdot ff_{it}\cdot cf_{it}\cdot x_{it})}

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).


As of October 2015. Euro Stoxx 50 consists of the following companies:[4]

Name Corporate form Registered office Industry Index weighing [%]
Air Liquide France Société Anonyme Insigne Lutetiae.svg Paris Chemistry
Airbus Group European Union Societas Europaea Insigne Amstelodamensis.svg Amsterdam Aerospace
Allianz European Union Societas Europaea Muenchen Kleines Stadtwappen.svg Munich Insurance
Anheuser-Busch InBev Belgium Société Anonyme/Naamloze vennootschap  Belgium Food and beverage
ASML Holding Netherlands Naamloze vennootschap  Netherlands Technology
Assicurazioni Generali Italy Società per azioni Free Territory of Trieste coat of arms.svg Trieste Insurance
AXA France Société Anonyme Insigne Lutetiae.svg Paris Insurance
Banco Bilbao Vizcaya Argentaria Spain Sociedad Anónima  Spain Banking
Banco Santander Central Hispano Spain Sociedad Anónima  Spain Banking
BASF European Union Societas Europaea  Germany Chemistry
Bayer Germany Aktiengesellschaft  Germany Chemistry
BMW Germany Aktiengesellschaft  Germany Automotive industry
BNP Paribas France Société Anonyme  France Banking
Carrefour France Société Anonyme  France Retail
Compagnie de Saint-Gobain France Société Anonyme  France Construction and materials
Daimler AG Germany Aktiengesellschaft  Germany Automotive industry
Deutsche Bank Germany Aktiengesellschaft  Germany Banking
Deutsche Post Germany Aktiengesellschaft  Germany Logistics
Deutsche Telekom Germany Aktiengesellschaft  Germany Telecommunication
Enel Italy Società per azioni  Italy Electric utility
Engie France Société Anonyme  France Electric utility
Eni Italy Società per azioni  Italy Petroleum
E.ON European Union Societas Europaea  Germany Electric utility
Essilor International France Société Anonyme  France Pharmaceutical industry
Fresenius SE European Union Societas Europaea  Germany Health care equipment
Groupe Danone France Société Anonyme  France Food and beverage
Iberdrola Spain Sociedad Anónima  Spain Electric utility
Inditex Spain Sociedad Anónima  Spain Retail
ING Group NV Netherlands Naamloze vennootschap  Netherlands Insurance
Intesa Sanpaolo Italy Società per azioni  Italy Banking
L'Oréal France Société Anonyme  France Personal and household goods
LVMH Moët Hennessy Louis Vuitton European Union Societas Europaea  France Personal and household goods
Munich Re Germany Aktiengesellschaft  Germany Insurance
Nokia Finland Julkinen osakeyhtiö  Finland Technology
Orange S.A. France Société Anonyme  France Telecommunication
Philips Netherlands Naamloze vennootschap  Netherlands Personal and household goods
Safran France Société Anonyme  France Aerospace
Sanofi France Société Anonyme  France Pharmaceutical industry
SAP SE European Union Societas Europaea  Germany Technology
Schneider Electric European Union Societas Europaea  France Goods and Services
Siemens Germany Aktiengesellschaft  Germany Goods and Services
Société Générale SA France Société Anonyme  France Banking
Telefonica Spain Sociedad Anónima Blason de Madrid.svg Madrid Telecommunication
TOTAL S.A. France Société Anonyme  France Petroleum
Unibail-Rodamco European Union Societas Europaea  France Real estate
UniCredit Italy Società per azioni  Italy Banking
Unilever United Kingdom Public limited company/Netherlands Naamloze vennootschap  Netherlands/ United Kingdom Food and beverage
Vinci SA France Société Anonyme  France Construction and materials
Vivendi France Société Anonyme Insigne Lutetiae.svg Paris Media
Volkswagen Group Germany Aktiengesellschaft  Germany Automotive industry

See also[edit]


  1. ^ [1]
  2. ^ "EURO STOXX 50 website". STOXX. Retrieved 13 March 2014. 
  3. ^ Deutsche Börse: Kurshistorie
  4. ^ Frankfurt Stock Exchange

External links[edit]