An index has been introduced for the Prague, Budapest and Warsaw exchanges by Czech brokerage firm Wood & Co., in conjunction with Reuters Group PLC. The 30 stock index, tracking the 10 largest companies by market capitalization on each exchange, covered about three-quarters of their total market cap on inception this fall. The index uses the US dollar as its base currency.
The Amsterdam Stock Exchange has suggested two probable changes in its AEX midcap index when it is reevaluated in February. Communications technology firm Getronics NVand cable company Pan-Europe Communications would replace KLM Royal Dutch Airlines and office-equipment supplier Buhrmann NV.
The Vienna stock exchange operator Wiener Borse has added a property-company index to its ATX series of indexes for Austrian equities. It is called the Immobilien-ATX.
Credit Suisse Group, the well-known Swiss banking combine, is introducing five index funds replicating some of the world's major indexes: the Doow Jones Euro Stoxx 50, the S&P 500, the FTSE 100, the Nikkei 300, and of course the Swiss Market Index. They are intended for the retail fund market, where Credit Suisse says some $250 billion is invested but only about 1% is in index funds as yet. The company said it regarded this market as "underdeveloped."
The Paris Bourse decided to postpone launching to bond index futures contracts that were scheduled for the Fall, citing Y2K concerns in the marketplace.
And British-based Investec Guinness Flight Fund Managers has introduced an ofshore version of the Wired (magazine) Index Fund, based on the index of 40 "economy-of-tomorrow" companies maintained by the well-known computer-industry magazine (see Indexes, Issue 1).