The CAC 40 (French French is a Romance language spoken as a first language by about 136 million people worldwide. Around 190 million people speak French as a second language, and an additional 200 million speak it as an acquired foreign language. French speaking communities are present in 57 countries and territories. Most native speakers of the language live in: CAC quarante [kak kaʁɑ̃t]) is a benchmark French France (pronounced /ˈfrænts/ frantss or /ˈfrɑːnts/ frahnts; French pronunciation (help·info): [fʁɑ̃s]), officially the French Republic (French: République française, pronounced: [ʁepyblik fʁɑ̃sɛz]), is a state in Western Europe with several of its overseas territories and islands located on other continents and in the Indian, stock market index A stock market index is a method of measuring a section of the stock market. Many indices are cited by news or financial services firms and are used as benchmarks, to measure the performance of portfolios such as mutual funds. The index represents a capitalization-weighted measure of the 40 most significant values among the 100 highest market caps Market capitalization/capitalisation is a measurement of size of a business enterprise (corporation) equal to the share price times the number of shares outstanding of a public company. As owning stock represents ownership of the company, including all its equity, capitalization could represent the public opinion of a company's net worth and is a on the Paris Bourse (now Euronext Paris). It is one of the main national indices of the pan-European stock exchange group Euronext Source:"euronext.com". http://www.euronext.com/trader/indicescomposition/composition-4411-EN-FR0003502079.html?selectedMep=1&idInstrument=22218 alongside Brussels Brussels (French: Bruxelles, pronounced [bʁysɛl] ; Dutch: Brussel, pronounced [ˈbrʏsəl] (help·info)), officially the Brussels Region or Brussels-Capital Region (French: Région de Bruxelles-Capitale, Dutch: Brussels Hoofdstedelijk Gewest (help·info)), is the de facto capital city of the European Union (EU) and the largest urban area in' BEL20 The BEL20 is the benchmark stock market index of Euronext Brussels. In general, the index consists of a minimum of 10 and a maximum of 20 companies traded at the Brussels Stock Exchange. Since Nyrstar was promoted to the index on 4 March 2008, the BEL20 has contained a full 20 listings, Lisbon Lisbon is the capital and largest city of Portugal, with a population of 564,477 within its administrative limits on a land area of 84.8 km2 (33 sq mi). The urban area of Lisbon extends beyond the administrative city limits with a population of 2.4 million on a area of 958 km2 (370 sq mi), it is the 12th most populous urban area in the European's PSI-20 The PSI-20 is a benchmark stock market index of companies that trade on Euronext Lisbon, the main stock exchange of Portugal. The index tracks the prices of the twenty listings with the largest market capitalisation and share turnover in the PSI Geral, the general stock market of the Lisbon exchange. It is one of the main national indices of the and Amsterdam Amsterdam (pronounced /ˈæmstərdæm/; Dutch [ɑmstərˈdɑm] ) is the capital and largest city of the Netherlands, located in the province of North Holland in the west of the country. The city, which had a population (including suburbs) of 1.36 million on 1 January 2008, comprises the northern part of the Randstad, the sixth-largest metropolitan's AEX The AEX index, derived from Amsterdam Exchange index, is a stock market index composed of Dutch companies that trade on Euronext Amsterdam, formerly known as the Amsterdam Stock Exchange. Started in 1983, the index is composed of a maximum of 25 of the most actively traded securities on the exchange. It is one of the main national indices of the.

Contents

History

Price evolution of the CAC 40 between 1987 1987 was a common year that started on a Thursday, in accordance with the Gregorian calendar and 2007 2007 was a common year that started on a Monday. In the Gregorian calendar, it was the 2007th year of the Common Era, or of Anno Domini; the 7th year of the 3rd millennium and of the 21st century; and the 8th of the 2000s decade

The CAC 40 takes its name from the Paris Bourse Coordinates: 48°52′09″N 2°20′29″E / 48.86917°N 2.34139°E The Paris Bourse is the historical Paris stock exchange, known as Euronext Paris from 2000 onwards's early automation system Cotation Assistée en Continu CAC is an electronic trading system implemented at the Paris Bourse, the French stock exchange, in the late 1980s. It was introduced in 1986 for the handling of less liquid equities, and in 1989 it was operational for all listed stocks. The acronym is also used to refer to the CAC 40 which is a stock index provided by the Paris Bourse. Curiously, (Continuous Assisted Quotation). Its base value of 1,000 was set on 31 December 1987, equivalent to a market capitalisation of 370,437,433,957.70 French francs The franc was a currency of France. Along with the Spanish peseta, it was also a de facto currency used in Andorra (which had no national currency with legal tender). Between 1360 and 1641, it was the name of coins worth 1 livre tournois and it remained in common parlance as a term for this amount of money. It was re-introduced (in decimal form).[2] In common with many major world stock markets, its all-time high to date (6922.33 points) was reached at the peak of the dot-com bubble The "dot-com bubble" was a speculative bubble covering roughly 1995–2000 (with a climax on March 10, 2000 with the NASDAQ peaking at 5132.52) during which stock markets in industrialized nations saw their equity value rise rapidly from growth in the more recent Internet sector and related fields. While the latter part was a boom and in September 2000.[3] In 1 December 2003, the index's weighting system switched from being dependent on total market capitalisation to free float The free float of a public company is an estimate of the proportion of shares that are not held by large owners and that are not stock with sales restrictions market cap only, in line with other leading indices.[4]

Rules

Selection

The CAC 40 index composition is reviewed quarterly by an independent Index Steering Committee (French French is a Romance language spoken as a first language by about 136 million people worldwide. Around 190 million people speak French as a second language, and an additional 200 million speak it as an acquired foreign language. French speaking communities are present in 57 countries and territories. Most native speakers of the language live in: Conseil Scientifique).[2] If any changes are made, they are effected a minimum of two weeks after the review meeting.[2] At each review date, the companies listed on Euronext Paris are ranked according to free float The free float of a public company is an estimate of the proportion of shares that are not held by large owners and that are not stock with sales restrictions market capitalisation Market capitalization/capitalisation is a measurement of size of a business enterprise (corporation) equal to the share price times the number of shares outstanding of a public company. As owning stock represents ownership of the company, including all its equity, capitalization could represent the public opinion of a company's net worth and is a and share The stock or capital stock of a business entity represents the original capital paid into or invested in the business by its founders. It serves as a security for the creditors of a business since it cannot be withdrawn to the detriment of the creditors. Stock is distinct from the property and the assets of a business which may fluctuate in turnover over the prior 12 months.[5] From the top 100 companies in this ranking, forty are chosen to enter the CAC 40 such that it is "a relevant benchmark for portfolio management Investment management is the professional management of various securities and assets (e.g., real estate), to meet specified investment goals for the benefit of the investors. Investors may be institutions (insurance companies, pension funds, corporations etc.) or private investors (both directly via investment contracts and more commonly via" and "a suitable underlying asset for derivatives A derivative, in non-financial-expert terms, is an agreement or contract that is not based on a real, or true, exchange, i.e.: There is nothing tangible like money, or a product, that is being exchanged. For example, a person goes to the grocery store, exchanges a currency for a commodity (say, an apple). The exchange is complete, both parties products".[5] If a company has more than one class of shares traded on the exchange, only the most actively traded of these will be accepted into the index (generally this will be the ordinary share).[5]

Weighting

The CAC 40 is a market value-weighted index. The number of issued shares (used to calculate the market cap and hence the index weight) of a company is reviewed quarterly, on the third Friday of March, June, September and December.[2] Since December 2003, the index weightings of companies in the index have been capped at 15% at each quarterly index review,[5] but these range freely with share price In the United States, a share must be priced at $1 or more to be covered by NASDAQ. If the share price falls below that level the stock is "delisted", and becomes an OTC . A stock must have a price of $1 or more for 10 consecutive trading days during each month to remain listed subsequently. A capping factor is used to limit the weights to 15% (if necessary), and is reviewed annually by the Index Steering Committee on the third Friday of September.[5]

Calculation

The index value I of the CAC 40 index is calculated using the following formula:[5]

with t the day of calculation; N the number of constituent shares in the index (usually 40); Qi,t the number of shares of company i on day t; Fi,t the free float factor of share i; fi,t the capping factor of share i (exactly 1 for all companies not subject to the 15% cap); Ci,t the price of share i on day t; Qi,0 the number of shares of company i on the index base date; Ci,0 the price of equity i on the index base date; and Kt the "adjustment coefficient for base capitalization" on day t (reflecting the switch from the French franc to the Euro The euro is the official currency of the Eurozone: 16 of the 27 Member States of the European Union (EU). It is also the currency used by the EU institutions. The eurozone consists of Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia and Spain. Estonia is in 1999).

Holdings

Although the CAC 40 is almost exclusively composed of French-domiciled companies, about 45% of its listed shares are owned by foreign investors, more than any other main European index.[6] German A region named Germania, inhabited by several Germanic peoples, has been known and documented before AD 100. Beginning in the 10th century, German territories formed a central part of the Holy Roman Empire, which lasted until 1806. During the 16th century, northern Germany became the centre of the Protestant Reformation. As a modern nation-state,, Japanese Japan is an island state in East Asia. Located in the Pacific Ocean, it lies to the east of the Sea of Japan, China, North Korea, South Korea and Russia, stretching from the Sea of Okhotsk in the north to the East China Sea and Taiwan in the south. The characters that make up Japan's name mean "sun-origin", which is why Japan is, American ^ b. English is the de facto language of American government and the sole language spoken at home by 80% of Americans age five and older. Spanish is the second most commonly spoken language and British The United Kingdom of Great Britain and Northern Ireland[note 7] is a sovereign state located off the northwestern coast of continental Europe. It is an island country, spanning an archipelago including Great Britain, the northeastern part of the island of Ireland, and many small islands. Northern Ireland is the only part of the UK with a land investors are amongst the most significant holders of CAC 40 shares. This large percentage is due to the fact that CAC 40 companies are more international, or multinational A multinational corporation or transnational corporation (TNC), also called multinational enterprise (MNE), is a corporation or an enterprise that manages production or delivers services in more than one country. It can also be referred as an international corporation. The International Labour Organization (ILO) has defined[citation needed] an MNC, than any other European market. CAC 40 companies conduct over two thirds of their business and employ over two thirds of their workforce The workforce is the labour pool in employment. It is generally used to describe those working for a single company or industry, but can also apply to a geographic region like a city, country, state, etc. The term generally excludes the employers or management, and implies those involved in manual labour.[citation needed] It may also mean all outside France.[7]

Composition

The index consists of the following companies as of the quarterly update effective 21 September, 2009.[8]

An Accor-owned Etap hotel in Saarbrücken Saarbrücken is the capital of the state of Saarland in Germany. The city sits at the heart of a metropolitan area that bounds westwards to Dillingen and northeastwards to Neunkirchen, in which most of the people of the Saarland live, Germany A region named Germania, inhabited by several Germanic peoples, has been known and documented before AD 100. Beginning in the 10th century, German territories formed a central part of the Holy Roman Empire, which lasted until 1806. During the 16th century, northern Germany became the centre of the Protestant Reformation. As a modern nation-state,. Carrefour hypermarket In commerce, a hypermarket is a superstore which combines a supermarket and a department store. The result is a very large retail facility which carries an enormous range of products under one roof, including full lines of groceries and general merchandise. In theory, hypermarkets allow customers to satisfy all their routine weekly shopping needs near Porte d'Auteuil, Paris Paris ([paʁi] in French, pronounced /ˈpærɪs/ in English) is the capital and largest city of France. It is situated on the river Seine, in northern France, at the heart of the Île-de-France region (or Paris Region, French: Région parisienne). The city of Paris, within its administrative limits largely unchanged since 1860, has an estimated. A Michelin F1 tyre. Total fuel station A filling station, gas station, fueling station, service station, petrol station, garage, gasbar, petrol pump or petrol bunk is a facility which sells fuel and lubricants for motor vehicles. The most common fuels sold are petrol (known as gasoline in Canada and the U.S.) or diesel fuel in Putlitz, Germany A region named Germania, inhabited by several Germanic peoples, has been known and documented before AD 100. Beginning in the 10th century, German territories formed a central part of the Holy Roman Empire, which lasted until 1806. During the 16th century, northern Germany became the centre of the Protestant Reformation. As a modern nation-state,.
Company ICB The Industry Classification Benchmark is a company classification system developed by Dow Jones and FTSE. It is used to segregate markets into sectors within the macroeconomy. The ICB uses a system of 10 industries, partitioned into 19 supersectors, which are further divided into 41 sectors, which then contain 114 subsectors Sector Ticker symbol Index weighting (%)1
Accor Accor is a French multinational corporation, part of the CAC 40 index, operating in nearly 100 countries. Headquartered in Courcouronnes, Essonne, France, near Évry, Accor is the European leader in hotels and a global leader in corporate services (Accor Services).[citation needed] hotels AC 0.77
Air Liquide L'Air Liquide S.A., or Air Liquide , is a major French company supplying industrial gases and services to various industries including medical, chemical and electronic manufacturers. Founded in 1902 it is second on the world market in its field, operating in over 70 countries. It is headquartered in Paris, France. Air Liquide owned the patent for commodity chemicals AI 3.05
Alcatel-Lucent Alcatel-Lucent is a global telecommunications corporation, headquartered in the 8th arrondissement of Paris, France. It provides telecommunications solutions to service providers, enterprises and governments around the world, enabling these customers to deliver voice, data and video services. The company focuses on fixed, mobile, and converged telecommunications equipment ALU 0.97
Alstom Alstom is a large French multinational conglomerate which holds interests in the power generation and transport markets. According to the company website, in the years 2007-'08 Alstom had annual sales of over €16.9 billion, and employed more than 81,500 people in 70 countries. Alstom's headquarters are located in Levallois-Perret, near Paris industrial machinery ALO 1.55
ArcelorMittal ArcelorMittal is the largest steel company in the world, with over 281,000 employees in more than 60 countries. The company was formed in 2006 by the merger of Arcelor and Mittal Steel. It ranks 28th on the 2009 Fortune Global 500 list. The company is headquartered in Luxembourg City, the former seat of Arcelor steel MT 3.33
AXA AXA is a French global insurance group headquartered in Paris. AXA is a conglomerate of independently run business, operated according to the laws and regulations of many different countries full line insurance CS 4.06
BNP Paribas BNP Paribas is one of the largest global banking groups in the world, headquartered in Paris with its second global headquarters in London. It was created through the merger of Banque Nationale de Paris (BNP) and Paribas in 2000. In 2010 it was ranked as the 11th largest company in the world by Forbes and the largest in France. In April 2009, BNP banks BNP 7.55
Bouygues Bouygues is a French industrial group listed on Euronext Paris exchange and is a blue chip in the CAC 40 stock market index. The company was founded in 1952 by Francis Bouygues (educated at the École Centrale Paris, 1946) and since 1989 has been led by his son Martin Bouygues. In 2008 it had over 145,150 employees in 80 countries. In 2008, it heavy construction EN 1.33
Capgemini Capgemini is a major French company, one of the world's largest information technology, transformation and management consulting, outsourcing and professional services companies with a staff of over 91,000 operating in 36 countries. It is headquartered in Paris (Rue de Tilsitt) and was founded in 1967 by Serge Kampf, the current chairman, in computer services CAP 0.73
Carrefour Carrefour S.A. (French pronunciation: [kaʁfuʁ]) is a French international hypermarket chain. Headquartered in Levallois-Perret, France, Carrefour is the largest hypermarket chain in the world in terms of size, the second largest retail group in the world in terms of revenue and third largest in profit after Wal-Mart and Tesco. Carrefour operates food retailers and wholesalers CA 2.74
Crédit Agricole Crédit Agricole S.A. (Euronext: ACA) is the largest retail banking group in France, second largest in Europe and the eighth largest in the world by Tier 1 capital according to The Banker magazine. It is also part of the CAC 40 stock market index banks ACA 1.92
Dexia banks DX 0.81
EADS aerospace EAD 0.91
EDF electricity EDF 1.60
Essilor medical supplies EI 1.15
France Télécom fixed line telecommunications FTE 5.00
GDF Suez gas distribution GSZ 5.51
Groupe Danone food products BN 3.56
L'Oréal personal products OR 2.37
Lafarge building materials and fixtures LG 1.79
Lagardère publishing MMB 0.50
LVMH clothing and accessories MC 2.47
Michelin tires ML 0.95
Pernod Ricard distillers and vintners RI 1.66
PSA Peugeot Citroën automobiles UG 0.47
PPR broadline retailers PP 0.95
Renault automobiles RNO 0.87
Saint-Gobain building materials and fixtures SGO 2.06
Sanofi-Aventis pharmaceuticals SAN 7.84
Schneider Electric electrical components and equipment SU 2.36
Société Générale banks GLE 4.08
STMicroelectronics semiconductors STM 0.62
Suez Environnement water SEV 0.61
Technip oil equipment and services TEC 0.63
Total integrated oil and gas FP 12.59
Unibail-Rodamco real estate investment trusts UL 1.91
Vallourec industrial machinery VK 0.96
Veolia Environnement water VIE 1.63
Vinci heavy construction DG 2.51
Vivendi broadcasting and entertainment VIV 3.64

Note 1: - Weightings accurate at close of trade on 25 September 2008.

See also

Major France stock market indices

CAC 40 • CAC Next 20 • CAC Mid 100 • CAC Small 90 • SBF 250 • SBF 120

References

  1. ^ "Euronext Paris - Cash Market full monthly statistics report: December 2008". Euronext. http://www.euronext.com/editorial/wide/editorial-7327-EN.html. Retrieved 2009-03-03.
  2. ^ a b c d "CAC 40 index profile". Euronext. http://www.euronext.com/editorial/wide/editorial-2667-EN-FR0003500008.html?selectedMep=1. Retrieved 2007-12-03.
  3. ^ "Investors celebrate stock market boom". BBC News. 31 December 2003. http://news.bbc.co.uk/1/hi/business/3359241.stm. Retrieved 2007-12-03.
  4. ^ Euronext (5 November 2003). "CAC40 shift to free-float weighting: revision of free-float calculation and capping factors". Press release. http://www.euronext.com/news/press_release/press_release-1731-EN.html?docid=59760. Retrieved 2007-12-03.
  5. ^ a b c d e f "Rules for the CAC 40 Index" (PDF). Euronext. December 2006. http://www.euronext.com/fic/000/019/620/196203.pdf. Retrieved 2007-12-02.
  6. ^ Chirac, Jacques (24 March 2006). "Press conference given by Jacques Chirac, President of the Republic, following the European Council (excerpts)". http://www.ambafrance-us.org/news/statmnts/2006/european_coucil_chirac_press_conference032406.asp. Retrieved 2007-12-03.
  7. ^ Lagarde, Christine (6 May 2006). ""France and Globalization": Lecture Given by Mme Christine Lagarde, Minister Delegate for Foreign Trade, to The Ecole des Hautes Etudes Commerciales in Lille (excerpts)". https://pastel.diplomatie.gouv.fr/editorial/actual/ael2/bulletin.gb.asp?liste=20060517.gb.html. Retrieved 2007-12-03.
  8. ^ "Index Announcement". Euronext. 7 September 2009. http://www.euronext.com/fic/000/052/491/524919.pdf. Retrieved 2009-09-19.

External links

Categories: CAC 40 | French stock market indices | Lists of companies

 

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