A common industry classification improves notably the international comparability of the listed companies, and provides companies with a clearly defined and larger peer group.
Currently all OMX exchanges (Copenhagen, Stockholm, Helsinki, Tallinn, Riga and Vilnius) use the same classification standard for the listed companies. The GICS classification is also in use at the exchanges in Oslo, and Iceland. Since July 1, 2005, the Baltic stock exchanges first introduced the GICS classification standard for their Main List companies.
The Global Industry Classification Standard (GICS) is developed by Morgan Stanley Capital International (MSCI) and Standard & Poor's (S&P), who estimate that it covers approximately 95 percent of the world’s equity market capitalization. GICS facilitates industry analysis by classifying companies at four different levels: sectors, industry groups, industries and sub-industries. The classification is based upon the business area that generates the majority of the company’s revenues. The 10 sectors in the GICS classification are: Energy, Materials, Industrials, Consumer Discretionary, Consumer Staples, Health Care, Financials, Information Technology, Telecommunication Services and Utilities.
For more information about the industry classification Main List and I-List:
- http://market.ee.omxgroup.com/upload/reports/GICS_map2006_Baltic_Main.pdf -
http://market.ee.omxgroup.com/upload/reports/GICS_map2006_Baltic_I.pdf
