FTSE Goes Euro With New Index

January 01, 1999

FTSE International added real-time Pan-European sectors to its FTSE Eurotop 300 index with the release of the Euro on January 4, 1999.

The ten broad economic groups and the 39 industry sectors they are divided into were created to accommodate European fund managers in the wake of the EMU. Rather than structuring their portfolios around countries, they will now be basing them on industries. Eventually all the FTSE indices will be organized by a similar system.

The ten economic groups include Resources, Basic Industries, General Industrials, Cyclical Services, NonCyclical Services and Information Technology. The 39 industry sectors cover a wide variety of areas, ranging from Packaging to Transport to Tobacco.

The Eurotop 300 index includes the 300 largest and most traded stocks in Europe.

 

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