STOXX announces changes to its blue-chip and style indexes
STOXX Ltd has announced the results of the regular annual review of the Dow Jones STOXX 50, Dow Jones EURO STOXX 50, Dow Jones STOXX NORDIC 30 and Dow Jones STOXX EU Enlarged 15 blue-chip indexes as well as the results of the semi-annual review of its style indexes.
The changes will be effective on 18 September 2006.
The following companies will join the Dow Jones STOXX 50: BHP BILLITON (United Kingdom, Basic Resources) and UNICREDITO ITALIANO (Italy, Banks). The companies exiting the index are: L´ OREAL (France, Personal & Household Goods) and TELECOM ITALIA (Italy, Telecommunications).
No changes will be made to the Dow Jones EURO STOXX 50 Index.
The following company will be added to the Dow Jones STOXX NORDIC 30: SKF-B (Sweden, Industrial Goods & Services). The company exiting the index is: TDC (Denmark, Telecommunications).
The following company will be added to the Dow Jones STOXX EU Enlarged 15: PETROL (Slovenia, Oil & Gas). The company exiting the index is: MERCATOR (Slovenia, Retail).
The changes made to the blue-chip index series are part a regular annual component review. The review is based on the blue-chip rules published on the STOXX Web site www.stoxx.com using the September 2006 blue-chip selection lists, which are based on the stocks in the corresponding Dow Jones STOXX 600 Index, Dow Jones EURO STOXX Index, Dow Jones STOXX NORDIC Index, Dow Jones STOXX EU Enlarged Total Market Index (TMI) and their free-float market capitalization as of 31 August 2006. The component selection lists that are used for the 2006 annual Dow Jones STOXX blue-chip index review are based on the Industry Classification Benchmark (ICB).
STOXX Ltd has also announced changes in the composition of its style indexes, the Dow Jones STOXX TMI Growth and Dow Jones STOXX TMI Value Indexes, and the respective large, mid- and small sub-indexes as well as the respective indexes for the Eurozone.
The Dow Jones STOXX Style Indexes include three categories: growth, value and neutral. Effective with the open of European markets on 18 September, 2006, the number of components in the Dow Jones STOXX TMI Growth Index will increase to 361 from 350 components, and the number of components in the Dow Jones STOXX TMI Value Index will increase to 405 from 392 components. The number of components in the neutral category will decrease to 263 from 267.
The three largest components measured by free-float market capitalization that will be added to the Dow Jones STOXX Growth and Value Indexes are MITTAL STEEL NEW EQUITY (France, Value), PORTUGAL TELECOM R (Portugal, Value) and PAN FISH (Norway, Value).
The following components of the Dow Jones STOXX TMI Large Growth & Value indexes will be reclassified from growth to value stocks: DEUTSCHE TELEKOM (Germany), FRANCE TELECOM (France) and TELECOM ITALIA RNC (Italy). NORDEA BANK AB (Sweden) and VOLVO B (Sweden) will be reclassified from value to growth stocks respectively.
Reasons for component changes in the Dow Jones STOXX Growth and Value Indexes can be the change of the style characteristics of an index component from growth to value, or vice versa, as well as the addition of a component stock.
The full list of the new composition of the Dow Jones STOXX Style Indexes, as well as further information on the indexes, can be found at http://www.stoxx.com/indexes/style.html.
The underlying component data - new numbers of shares and free-float factors - will be announced on 13 September 2006 and reflect all corporate actions effective before the above changes are implemented on the third Friday of September (September 15). The changes will be effective on the next trading day, 18 September 2006.
- By Category
- News from other sites
- Special Reports
- By Location
- Asian Hedge Funds
- BVI Hedge Fund Services
- Bermuda Hedge Fund Services
- Canada Hedge Fund Services
- Cayman Hedge Fund Services
- Channel Islands Stock Exchange
- Future of offshore funds
- Gibraltar Hedge Fund Services
- Guernsey Hedge Fund Services
- Hedge Funds in Germany
- Hong Kong Hedge Fund Services
- Ireland Hedge Fund Services
- Isle of Man Hedge Fund Services
- Jersey Hedge Fund Services
- Jersey Private Equity Services
- Latin American Hedge Funds
- London Hedge Fund Services
- Luxembourg Hedge Fund Services
- Luxembourg Private Equity Services
- Malta Hedge Fund Services
- Middle East Hedge Fund Services
- Singapore Hedge Fund Services
- South African Hedge Fund Services
- Spanish Hedge Funds 2008
- Switzerland Hedge Funds
- US East Coast Hedge Fund Services
- US Hedge Fund Services
- By Subject
Latest Special Report
- By Location