The NASDAQ OMX Group, Inc. (NASDAQ:NDAQ) announces today the results of the semi-annual review of the OMX Stockholm Benchmark index, (NASDAQ OMX Stockholm: OMXSB), which will become effective with the market open on Wednesday, June 1, 2011.
Addnode AB (ANOD B), Etrion Corporation (ETX), Hexagon AB (HEXA B), Höganäs AB (HOGA B), Medivir AB (MVIR B), Millicom International Cellular (MIC SDB), and Proffice AB (PROE B) will be added to the index
CDON Group AB (CDON), Cybercom Group AB (CYBE), Enea AB (ENEA), Eniro AB (ENRO), Gunnebo AB (GUNN), Nokia Corporation (NOKI SEK), Svenska Cellulosa AB SCA ser A. (SCA A) and Swedish Orphan Biovitrum AB (SOBI) will be removed from the index.
“We are glad to see that several large and highly liquid companies are entering the OMX Stockholm Benchmark index, which is one of the most used Swedish benchmark indexes amongst portfolio managers and institutional investors, said Magdalena Hartman, Vice President NASDAQ OMX Global Index Group. The index is designed to act as a transparent and liquid benchmark with low transaction costs for the investors. The OMX Stockholm Benchmark index has proven itself over the years to closely mirror the Swedish equity market with a correlation of 99,9 % but with only 86 companies in the index.
The OMXSB index consists of the 86 largest and most traded stocks, representing all ten sectors. The weight of the stocks is based on the market value adjusted by the free float, which means that only the part of the share capital that is considered available for trading is included in the index. The index serves as an indicator of the overall trend on NASDAQ OMX Stockholm and is intended to offer a cost effective index that an investor can fully replicate.
OMXSB is sector diversified and major sectors represented are Financials, Industrials, Consumer Discretionary and Information Technology. The securities must also meet other eligibility criteria including a turnover screening. The OMXSB index is evaluated on a semi-annual basis in May and November, and the new index portfolio becomes effective on the first trading day in June and December respectively.
