FTSE Group today advised index users that the FTSE Eurotop 300 index will become part of the FTSEurofirst index series from 29 September 2004. The FTSE Eurotop 300 is the recognised benchmark for large cap stocks in Europe and will be renamed the FTSEurofirst 300. It will join the FTSEurofirst 80 and the FTSEurofirst 100 as the third index in the pan-European index family. The addition of this index to the FTSEurofirst Index Series will significantly enhance visibility of the series throughout Europe. It is also an indication of FTSE and Euronext’s belief that FTSEurofirst is the best indicator of the pan-European market today.
The FTSEurofirst Index Series has become accepted by market makers, fund managers and product issuers across Europe, including leading firms such as Barclays Global Investors (BGI), which recently selected the FTSEurofirst 80 and 100 to act as the underlying indices for two of its Exchange Traded Funds (ETFs).
Mark Makepeace, Chief Executive of FTSE Group said, “We are convinced that the FTSEurofirst Series is the best real-time measure of the pan-European market available to investors today. By extending the series to include the new FTSEurofirst 300, we will continue to see the importance of the FTSEurofirst series grow.”
Jean-François Théodore, Chairman of the Managing Board and CEO of Euronext said, “FTSE Group’s decision to add the FTSEurofirst 300 to our FTSEurofirst Index Series testifies once again to our shared commitment to long-term development of this index series.”
