Portuguese Exchange To Adopt FTSE Global Classification System

BVLP - Bolsa de Valores de Lisboa e Porto and FTSE, the global index group, have signed an agreement enabling BVLP to use the FTSE Global Classification System as the basis on which it will classify its listed stocks. The decision to adopt the FTSE classification system is intended to bring Portuguese listed stocks in line with other internationally traded stocks, and to prepare for the introduction of new indices based on the FTSE system.

Both the classifications applied to companies and the details of the new indices are expected to be published during November.

BVLP joins a growing number of exchanges, consultancies and investment houses worldwide who already use the FTSE system as the basis for sectoral analysis.

Manuel Alves Monteiro, BVLP's CEO, said "We are committed to position BVLP as a global player in the investment markets and expanding the visibility of the Portuguese listed companies. Restructuring the stock classification is a logical step in that process, and the FTSE system has been chosen for its accurate and standardised sectoral definitions."

Mark Makepeace, FTSE's Chief Executive commented, "Investment markets are today organised on a sector, rather than country basis, and so an international classification standard is essential. The FTSE system is now recognised as the benchmark."