EURO STOXX 50

EURO STOXX 50 Index
Foundation	26 February 1998
Operator	STOXX
Constituents	50
Type	Mega cap
Market cap	€4.011 trillion (Aug 2023)[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. The index is composed of 50 stocks from 11 countries in the Eurozone.[2]

EURO STOXX 50 represents Eurozone blue-chip companies considered as leaders in their respective sectors.[2] 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 products in Europe and the world.

Contract Specifications[3]
Euro Stoxx 50 (DSX)
Exchange:	EUREX
Sector:	Index
Tick Size:	1
Tick Value:	10 EUR
BPV:	10
Denomination:	EUR
Decimal Place:	1

The EURO STOXX 50 was introduced on 26 February 1998.

The EURO STOXX 50 Index represents some of the largest companies 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 is one of the most liquid indices for the Eurozone.

Historical performance

Performance of the Euro Stoxx 50 stock market index since 1998
(end-of-year points)[4]

EURO STOXX 50 was quoted only starting 1998 but its prices were calculated retroactively back to the year 1986. The base value is 1000 points, referenced on 31 December 1991.[5] The following table shows the end-of-year values of the EURO STOXX 50 index since 1986.[6]

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	3290.52	23.00	0.7
2017	3503.96	213.44	6.47
2018	3001.42	−502.54	−14.34
2019	3745.16	743.73	24.78
2020	3552.64	−192.52	−5.14
2021	4298.41	745.77	20.99

Calculation

The calculation of the indices employ the Laspeyres formula, which measures price changes against a fixed base quantity weight:[7]

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}}}

where: vcc:FdDF

t = Time the index is computed

n = Number of companies in the index

p_it = Price of company (i) at time (t)

s_it = Number of shares of company (i) at time (t)

ff_it = Free-float factor of company (i) at time (t)

cf_it = Weighting cap factor of company (i) at time (t)

x_it = Exchange rate from local currency into index currency for company (i) at time (t)

M_t = Free-float market capitalization of the index at time (t)

D_t = 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 ΔMC_t+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).

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.

Composition

The composition of EURO STOXX 50 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. As of August 2023, the most countries with most companies represented are France (representing 41.8% of all total assets) and Germany (26.5%).[1]

As of 18 September 2023, Euro Stoxx 50 consists of the following companies:[8]

Ticker	Main listing	Name	Corporate form	Registered office	Industry	Founded
ADS.DE	FWB: ADS	Adidas	Aktiengesellschaft	Germany	Sportwear	1924
ADYEN.AS	Euronext: ADYEN	Adyen	Naamloze vennootschap	Netherlands	Software—Infrastructure	2006
AD.AS	Euronext: AD	Ahold Delhaize	Naamloze vennootschap	Netherlands	Retail	2016 (1867)
AI.PA	Euronext Paris: AI	Air Liquide	Société Anonyme	France	Chemistry	1902
AIR.PA	Euronext: AIR	Airbus	Societas Europaea	France	Aerospace	1970
ALV.DE	FWB: ALV	Allianz	Societas Europaea	Germany	Insurance	1890
ABI.BR	Euronext: ABI	Anheuser-Busch InBev	Société Anonyme/ Naamloze vennootschap	Belgium	Food and beverage	2008 (1366/1888/1852/1895)
ASML.AS	Euronext: ASML	ASML Holding	Naamloze vennootschap	Netherlands	Technology	1984
CS.PA	Euronext: CS	AXA	Société Anonyme	France	Insurance	1816
BAS.DE	FWB: BAS	BASF	Societas Europaea	Germany	Chemistry	1865
BAYN.DE	FWB: BAYN	Bayer	Aktiengesellschaft	Germany	Chemistry	1863
BBVA.MC	BMAD: BBVA	BBVA	Sociedad Anónima	Spain	Banking	1857
SAN.MC	BMAD: SAN	Banco Santander	Sociedad Anónima	Spain	Banking	1857
BMW.DE	FWB: BMW	BMW	Aktiengesellschaft	Germany	Automotive industry	1916
BNP.PA	Euronext Paris: BNP	BNP Paribas	Société Anonyme	France	Banking	2002 (1848/1872)
BN.PA	Euronext: BN	Danone	Société Anonyme	France	Food and beverage	1919
DB1.DE	FWB: DB1	Deutsche Börse	Aktiengesellschaft	Germany	Finance	1992
DPW.DE	FWB: DPW	Deutsche Post	Aktiengesellschaft	Germany	Logistics	1995
DTE.DE	FWB: DTE	Deutsche Telekom	Aktiengesellschaft	Germany	Telecommunication	1995
ENEL.MI	BIT: ENEL	Enel	Società per azioni	Italy	Electric utility	1962
ENI.MI	BIT: ENI	Eni	Società per azioni	Italy	Petroleum	1953
EL.PA	Euronext: EI	EssilorLuxottica	Société anonyme	France	Optical industry	1849
RACE.MI	BIT: RACE	Ferrari	Società per azioni	Italy	Automotive	1939
FLTR.IR	Euronext: FLTR	Flutter Entertainment	Public limited company	Ireland	Bookmaking	2016
RMS.PA	Euronext: RMS	Hermès	Société Anonyme	France	Luxury	1837
IBE.MC	BMAD: IBE	Iberdrola	Sociedad Anónima	Spain	Electric utility	1992 (1907/1944)
ITX.MC	BMAD: ITX	Inditex	Sociedad Anónima	Spain	Clothing	1985
IFX.DE	FWB: IFX	Infineon Technologies	Aktiengesellschaft	Germany	Semiconductors	1999
INGA.AS	Euronext: INGA	ING Group	Naamloze vennootschap	Netherlands	Banking	1991
ISP.MI	BIT: ISP	Intesa Sanpaolo	Società per azioni	Italy	Banking	2007 (1563)
KER.PA	Euronext: KER	Kering	Société Anonyme	France	Luxury	1963
OR.PA	Euronext: OR	L'Oréal	Société Anonyme	France	Personal and household goods	1909
MC.PA	Euronext: MC	LVMH Moët Hennessy Louis Vuitton	Societas Europaea	France	Personal and household goods	1987 (1743 / 1765 / 1854)
MBG.DE	FWB: MBG	Mercedes-Benz Group	Aktiengesellschaft	Germany	Automotive industry	2007 (1926)
MUV2.DE	FWB: MUV2	Munich Re	Aktiengesellschaft	Germany	Insurance	1880
NOKIA.HE	Nasdaq Helsinki: NOKIA	Nokia	Julkinen osakeyhtiö	Finland	Telecommunication	1865
NDAFI.HE	Nasdaq Helsinki: NDA FI	Nordea	Aktiebolag	Finland	Banking	1820
RI.PA	Euronext: RI	Pernod Ricard	Société Anonyme	France	Alcohol	1975
PRX.AS	Euronext: PRX	Prosus	Naamloze vennootschap	Netherlands	Consumer Internet	2019
SAF.PA	Euronext: SAF	Safran	Société Anonyme	France	Aerospace	2005
SGO.PA	Euronext: SGO	Saint-Gobain	Société Anonyme	France	Building materials	1665
SAN.PA	Euronext: SAN	Sanofi	Société Anonyme	France	Pharmaceutical industry	2004 (1834/1899/1973)
SAP.DE	FWB: SAP	SAP	Societas Europaea	Germany	Technology	1972
SU.PA	Euronext: SU	Schneider Electric	Societas Europaea	France	Goods and Services	1836
SIE.DE	FWB: SIE	Siemens	Aktiengesellschaft	Germany	Goods and Services	1847
STLAM.MI	Euronext BIT: STLA	Stellantis	Naamloze vennootschap	Netherlands	Automotive industry	2021
TTE.PA	Euronext: TTE	TotalEnergies	Societas Europaea	France	Petroleum	1924
DG.PA	Euronext: DG	Vinci SA	Société Anonyme	France	Construction and materials	1899
UCG.MI	BIT: UCG	UniCredit	Società per azioni	Italy	Banking	1998
VOW.DE	FWB: VOW	Volkswagen Group	Aktiengesellschaft	Germany	Automotive industry	1937

Stocks per country

The following table shows the number of stocks (companies) per country as of September 2023:[8]

Rank	Country	Stocks
1	France	17
2	Germany	14
3	Netherlands	6
4	Italy	5
5	Spain	4
6	Finland	2
7	Belgium	1
7	Ireland	1
	Total	50

Use in the financial industry

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. EURO STOXX 50 is used for as underlying index for other financial products or for performance benchmarking purposes. Additionally, the index serves as an underlying for many strategy indices, such as the EURO STOXX 50 Risk Control Indices. The index is used as an underlying for ETFs and derivative financial instruments such as futures and options.[2]

References

EURO STOXX 50, 17 September 2023
"About EURO STOXX 50 Price EUR". Bloomberg. Retrieved 5 July 2022.
"Historical Euro Stoxx 50 Intraday Data (DSX)". PortaraCQG. Retrieved 31 August 2022.
"Euro Stoxx 50 Historie & Entwicklung | Schlusskurse".
"EuroStoxx 50". Markets Insider. 2 June 2018. Retrieved 5 July 2022.
"Euro Stoxx 50 Historie | Kurshistorie | Schlusskurse". boerse.de.
STOXX Calculation Guide December 2022
"STOXX Digital | EURO STOXX 50®". www.stoxx.com.

External links

This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.

[factsheet-1] EURO STOXX 50, 17 September 2023

[“bloomberg”-2] "About EURO STOXX 50 Price EUR". Bloomberg. Retrieved 5 July 2022.

[3] "Historical Euro Stoxx 50 Intraday Data (DSX)". PortaraCQG. Retrieved 31 August 2022.

[4] "Euro Stoxx 50 Historie & Entwicklung | Schlusskurse".

[5] "EuroStoxx 50". Markets Insider. 2 June 2018. Retrieved 5 July 2022.

[6] "Euro Stoxx 50 Historie | Kurshistorie | Schlusskurse". boerse.de.

[7] STOXX Calculation Guide December 2022

[index-details-8] "STOXX Digital | EURO STOXX 50®". www.stoxx.com.