An index of the most liquid European stocks has been launched.
Standard & Poor's (S&P), which created the index, said it is designed to provide market exposure to 75 of the Eurozone's leading, liquid blue chip companies.
Germany and France carry the largest index country weights, representing 33.2% and 32.4% respectively, followed by Spain, which accounts for 13.7% of the index. Currently, due to the liquidity rules, the S&P Euro 75 includes no constituents from Greece or Portugal.
The top ranked index stock weight is Spain’s Telefonica SA at 6.54%, followed by Total SA at 5.63% and Siemens AG at 3.84%.
The firm added that the S&P Euro 75 responds to investor demand for a replicable index that provides broad market exposure and whose easy-to-trade constituents can serve as the basis for structured products and listed investment vehicles.
The index constituents are drawn from a universe comprised of stocks included in the S&P Eurozone BMI. Each stock is screened for size, liquidity and tradability to determine its eligibility for the S&P Euro 75. The Index is calculated in real-time to support the broadest array of financial instruments.
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