EURO STOXX 50

The EURO STOXX 50 is a stock index of Eurozone stocks designed by STOXX, an index provider owned by Deutsche Börse Group. As of April 2021, the index is dominated by France (representing 36.6% of all total assets) and Germany (33.2%).[1]

EURO STOXX 50 Index
Foundation26 February 1998
OperatorSTOXX
Constituents50
TypeMega cap
Market cap€3.698 trillion (April 2021)[1]
Weighting methodFree-float market capitalization
Related indicesSTOXX Europe 50
Websitestoxx.com

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 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.

DevelopmentEdit

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 3290.52 23.00 0.7
2017 3503.96 213.44 6.47
2018 3001.42 −502.54 −14.34
2019 3745.15 743.73 24.78
2020 3571.59 −176.88 −4.72

CalculationEdit

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

 

where: vcc:FdDF

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).

CompositionEdit

As of May 2021, Euro Stoxx 50 consists of the following companies:[5]

Ticker Main listing Name Corporate form Registered
office
Industry Founded
ADS.DE FWBADS Adidas   Aktiengesellschaft   Germany Sportwear 1924
ADYEN.AS EuronextADYEN Adyen   Naamloze vennootschap   Netherlands Software—Infrastructure 2006
AD.AS EuronextAD Ahold Delhaize   Naamloze vennootschap   Netherlands Retail 2016 (1867)
AI.PA EuronextAI Air Liquide   Société Anonyme   France Chemistry 1902
AIR.PA EuronextAIR Airbus   Societas Europaea   Netherlands Aerospace 1970
ALV.DE FWBALV Allianz   Societas Europaea   Germany Insurance 1890
AMS.MC BMADAMS Amadeus IT Group   Sociedad Anónima   Spain Technology 1987
ABI.BR EuronextABI Anheuser-Busch InBev   Société Anonyme/
Naamloze vennootschap
  Belgium Food and beverage 2008 (1366/1888/1852/1895)
ASML.AS EuronextASML ASML Holding   Naamloze vennootschap   Netherlands Technology 1984
CS.PA EuronextCS AXA   Société Anonyme   France Insurance 1816
BAS.DE FWBBAS BASF   Societas Europaea   Germany Chemistry 1865
BAYN.DE FWBBAYN Bayer   Aktiengesellschaft   Germany Chemistry 1863
SAN.MC BMADSAN Banco Santander   Sociedad Anónima   Spain Banking 1857
BMW.DE FWBBMW BMW   Aktiengesellschaft   Germany Automotive industry 1916
BNP.PA EuronextBNP BNP Paribas   Société Anonyme   France Banking 2002 (1848/1872)
CRG.IR EuronextCRG CRH   Public Limited Company   Ireland Construction and materials 1970 (1936)
DAI.DE FWBDAI Daimler AG   Aktiengesellschaft   Germany Automotive industry 2007 (1926)
BN.PA EuronextBN Danone   Société Anonyme   France Food and beverage 1919
DB1.DE FWBDB1 Deutsche Börse   Aktiengesellschaft   Germany Finance 1992
DPW.DE FWBDPW Deutsche Post   Aktiengesellschaft   Germany Logistics 1995
DTE.DE FWBDTE Deutsche Telekom   Aktiengesellschaft   Germany Telecommunication 1995
ENEL.MI BITENEL Enel   Società per azioni   Italy Electric utility 1962
ENGI.PA EuronextENGI Engie   Société Anonyme   France Electric utility 2008
ENI.MI BITENI Eni   Società per azioni   Italy Petroleum 1953
EL.PA EuronextEI EssilorLuxottica   Société Anonyme   France Optical industry 1849
FLTR.IR EuronextFLTR Flutter Entertainment   Public Limited Company   Ireland Bookmaking 2016
IBE.MC BMADIBE Iberdrola   Sociedad Anónima   Spain Electric utility 1992 (1907/1944)
ITX.MC BMADITX Inditex   Sociedad Anónima   Spain Clothing 1985
IFX.DE FWBIFX Infineon Technologies   Aktiengesellschaft   Germany Semiconductors 1999
INGA.AS EuronextINGA ING Group   Naamloze vennootschap   Netherlands Banking 1991
ISP.MI BITISP Intesa Sanpaolo   Società per azioni   Italy Banking 2007 (1563)
KER.PA EuronextKER Kering   Société Anonyme   France Luxury 1963
KNEBV.HE Nasdaq HelsinkiKNEBV Kone   Julkinen osakeyhtiö   Finland Engineering and service 1910
OR.PA EuronextOR L'Oréal   Société Anonyme   France Personal and household goods 1909
LIN.DE FWBLIN Linde plc   Public limited company   Ireland Chemicals 1879
MC.PA EuronextMC LVMH Moët Hennessy Louis Vuitton   Societas Europaea   France Personal and household goods 1987 (1743 / 1765 / 1854)
MUV2.DE FWBMUV2 Munich Re   Aktiengesellschaft   Germany Insurance 1880
RI.PA EuronextRI Pernod Ricard   Société Anonyme   France Alcohol 1975
PHIA.AS EuronextPHIA Philips   Naamloze vennootschap   Netherlands Health care equipment 1891
PRX.AS EuronextPRX Prosus   Naamloze vennootschap   Netherlands Consumer Internet 2019
SAF.PA EuronextSAF Safran   Société Anonyme   France Aerospace 2005
SAN.PA EuronextSAN Sanofi   Société Anonyme   France Pharmaceutical industry 2004 (1834/1899/1973)
SAP.DE FWBSAP SAP SE   Societas Europaea   Germany Technology 1972
SU.PA EuronextSU Schneider Electric   Societas Europaea   France Goods and Services 1836
SIE.DE FWBSIE Siemens   Aktiengesellschaft   Germany Goods and Services 1847
FP.PA EuronextFP TotalEnergies   Societas Europaea   France Petroleum 1924
DG.PA EuronextDG Vinci SA   Société Anonyme   France Construction and materials 1899
VIV.PA EuronextVIV Vivendi   Société Anonyme   France Media 1853
VOW.DE FWBVOW Volkswagen Group   Aktiengesellschaft   Germany Automotive industry 1937
VNA.DE FWBVNA Vonovia   Societas Europaea   Germany Real estate 2001

Stocks per countryEdit

The following table shows the number of stocks (companies) per country as of May 2021:[5]

Rank Country Stocks
1   France 17
2   Germany 16
3   Netherlands 6
4   Spain 4
5   Italy 3
6   Ireland 2
7   Belgium 1
  Finland 1
Total 50

See alsoEdit

ReferencesEdit

  1. ^ a b EURO STOXX 50, May 29, 2021
  2. ^ http://www.boerse.de/historische-kurse/Euro-Stoxx-50/EU0009658145
  3. ^ "Euro Stoxx 50 Historie | Kurshistorie | Schlusskurse". boerse.de.
  4. ^ http://www.stoxx.com/download/indices/rulebooks/stoxx_calculation_guide.pdf
  5. ^ a b "STOXX Digital | EURO STOXX 50®". www.stoxx.com.

External linksEdit