EURO STOXX 50

Summary

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 Index
Foundation26 February 1998
OperatorSTOXX
Constituents50
TypeMega cap
Market cap€4.011 trillion (Aug 2023)[1]
Weighting methodFree-float market capitalization
Related indicesSTOXX Europe 50
Websitestoxx.com/..

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 edit

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][citation needed]

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 edit

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

 

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).

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 edit

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
DHL.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   Naamloze vennootschap   Netherlands Automotive 1939
FLTR.L   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
NDA-FI.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 edit

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 7
4   Italy 4
5   Spain 4
6   Finland 2
7   Belgium 1
  Ireland 1
Total 50

Use in the financial industry edit

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]

See also edit

References edit

  1. ^ a b EURO STOXX 50, 17 September 2023
  2. ^ a b c "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
  8. ^ a b "STOXX Digital | EURO STOXX 50®". www.stoxx.com.

External links edit

  • EURO STOXX 50 page
  • EURO STOXX 50 Fact sheet
  • STOXX Index Methodology Guide
  • Bloomberg page for SX5E:IND
  • Yahoo! Finance page for ^STOXX50E
  • Euro Stoxx 50 | Index | 965814 | EU0009658145 | Börse Frankfurt (Frankfurt Stock Exchange)