The FTSE 100 Index — also called FTSE 100, FTSE, or, informally, the 'footsie' (pronounced /ˈfʊtsiː/) — is a share index of the 100 most highly capitalised UK companies listed on the London Stock Exchange.
Although FTSE is jointly owned by the Financial Times and the London Stock Exchange, the initials are not an acronym nor an initialism and do not stand for "Financial Times Stock Exchange". They are simply borrowed from FTSE's two parent companies.
Although FTSE is jointly owned by the Financial Times and the London Stock Exchange, the initials are not an acronym nor an initialism and do not stand for "Financial Times Stock Exchange". They are simply borrowed from FTSE's two parent companies.
The index began on 3 January 1984 with a base level of 1000; the highest value reached to date is 6950.60, on 30 December 1999. After falling dramatically during the financial crisis of 2007-2010 to a low of below 3,500, the index has recovered by a significant margin to 6,091.33 on 8 February 2011, its highest level since mid-2008. It is the most widely used of the FTSE Group's indices, and is frequently reported (e.g. on UK news bulletins) as a measure of business prosperity.
OVERVIEW
The index is maintained by the FTSE Group, an independent company which originated as a joint venture between the Financial Times and the London Stock Exchange. It is calculated in real time and published every 15 seconds.
FTSE 100 companies represent about 81% of the market capitalisation of the whole London Stock Exchange. Even though the FTSE All-Share Index is more comprehensive, the FTSE 100 is by far the most widely used UK stock market indicator. Other related indices are the FTSE 250 Index (which lists the next largest 250 companies after the FTSE 100), the FTSE 350 Index (which is the aggregation of the FTSE 100 and 250), FTSE SmallCap Index and FTSE Fledgling Index. The FTSE All-Share aggregates the FTSE 100, FTSE 250 and FTSE SmallCap.
The constituents of the index are determined quarterly; the largest companies in the FTSE 250 Index are promoted if their market capitalisation would place them in the top ninety firms of the FTSE 100 Index. As of December 2008, the threshold for inclusion is about £1.7 billion. As of December 2008, the five largest constituents of the index were BP, HSBC Holdings, theVodafone Group, GlaxoSmithKline, and Royal Dutch Shell which were each valued at more than £60 billion.
Component companies must meet a number of requirements set out by the FTSE Group, including having a full listing on the London Stock Exchange with a Sterling or Euro denominated price on SETS, and meeting certain tests on nationality, free float, and liquidity.
With only historical exceptions, the companies listed on this index must by law include the abbreviation 'plc' at the end of their name, indicating their status of public limited company.
Continuous trading starts at 08:00 and ends at 16:30 (when the closing auction starts), and closing values are taken at 16:35.
WEIGHTING
They involve the total market capitalisation of the companies weighted by their effect on the index, so the larger companies make more of a difference to the index than smaller. This is also called the free float method. The basic formula for any index is (be it capitalization weighted or any other stock index):
- Index level = Σ(Price of stock* Number of shares)*Free float factor / Index Divisor.
The Free float Adjustment factor represents the proportion of shares that are readily available for trading as a percentage of all issued shares. The factor is then rounded up to the nearest multiple of 5% for calculation purposes. To find the free-float capitalisation of a company, first find its market cap (number of shares x share price) then multiply by its free-float factor. Free-float capitalisation, therefore, does not include restricted stocks, such as those held by company insiders.
Constituents by market capitalisation as of 5 March 2013
The following table lists the FTSE 100 companies measured by market capitalisation as of 5 March 2013. The numbers of employees are taken from company reports, mostly dated between 2011 and 2012. The index consists of 100 companies, but there are 101 listings, as Royal Dutch Shell has both A and B class shares listed. Schroders Non Voting shares were also listed until 1 June 2012 when the FTSE's stricter rules came into force.
Company | Sector | Market cap (£bn) | Employees |
---|---|---|---|
Royal Dutch Shell | Oil and gas | 135 | 90,000 |
HSBC | Banking | 129 | 267,000 |
BP | Oil and gas | 85 | 97,700 |
Vodafone Group | Telecomms | 83 | 86,373 |
GlaxoSmithKline | Pharmaceuticals | 73 | 97,389 |
British American Tobacco | Tobacco | 69 | 87,813 |
SABMiller | Beverages | 53 | 70,000 |
Diageo | Beverages | 50 | 25,000 |
Rio Tinto Group | Mining | 48 | 67,930 |
BHP Billiton | Mining | 44 | 46,370 |
Standard Chartered | Banking | 43 | 86,865 |
BG Group | Oil and gas | 49 | 6,625 |
AstraZeneca | Pharmaceuticals | 38 | 57,200 |
Barclays | Banking | 37 | 150,000 |
Lloyds Banking Group | Banking | 36 | 120,449 |
Xstrata | Mining | 35 | 38,561 |
Unilever | Consumer goods | 34 | 171,000 |
Reckitt Benckiser | Consumer goods | 32 | 32,000 |
Tesco | Supermarket | 29 | 519,671 |
Glencore International | Mining | 27 | 57,656 |
National Grid plc | Energy | 26 | 27,000 |
Anglo American plc | Mining | 26 | 100,000 |
Prudential plc | Finance | 25 | 25,414 |
Imperial Tobacco Group | Tobacco | 24 | 38,200 |
BT Group | Telecomms | 20 | 89,000 |
Rolls-Royce Group | Manufacturing | 19 | 40,000 |
Centrica | Energy | 18 | 40,000 |
Royal Bank of Scotland Group | Banking | 18 | 150,000 |
Compass Group | Food | 15 | 471,108 |
Associated British Foods | Food | 14 | 102,000 |
BSkyB | Media | 14 | 22,800 |
SSE plc | Energy | 13 | 20,000 |
WPP plc | Media | 13 | 162,000 |
ARM Holdings | Engineering | 13 | 2,000 |
BAE Systems | Military | 11.8 | 107,000 |
Shire plc | Pharmaceuticals | 11.7 | 4,200 |
Experian | Information | 11.7 | 17,000 |
Tullow Oil | Oil and gas | 11.2 | 890 |
CRH plc | Building materials | 10.9 | 76,433 |
Fresnillo plc | Mining | 10.8 | 2,449 |
Antofagasta | Mining | 10.7 | 4,005 |
Aviva | Insurance | 10.4 | 40,800 |
Old Mutual | Insurance | 10.2 | 54,368 |
Pearson plc | Publishing | 9.6 | 37,000 |
Legal & General | Insurance | 9.5 | 9,324 |
Wolseley plc | Building materials | 9.1 | 44,000 |
Reed Elsevier | Publishing | 8.9 | 30,200 |
Standard Life | Fund management | 8.8 | 10,500 |
Next plc | Retail clothing | 6.9 | 58,706 |
Kingfisher plc | Retail homeware | 6.7 | 80,000 |
Land Securities Group | Property | 6.6 | 700 |
Morrison Supermarkets | Supermarket | 6.5 | 132,000 |
J Sainsbury plc | Supermarket | 6.5 | 150,000 |
Smith & Nephew | Medical | 6.4 | 11,000 |
Burberry Group | Fashion | 6.1 | 9,000 |
Marks & Spencer Group | Retailer | 5.9 | 81,223 |
Capita | Support Services | 5.9 | 46,500 |
InterContinental Hotels Group | Hotels | 5.7 | 345,000 |
Intertek Group | Product testing | 5.5 | 33,000 |
Schroders | Fund management | 5.5 | 3,012 |
British Land Co | Property | 5.1 | 177 |
Petrofac | Oil and gas | 5.1 | 18,200 |
United Utilities | Water | 5.0 | 5,096 |
Smiths Group | Engineering | 5.0 | 23,550 |
Weir Group | Engineering | 5.0 | 14,000 |
Aberdeen Asset Management | Fund management | 4.9 | 1,800 |
Randgold Resources | Mining | 4.9 | 6,954 |
Johnson Matthey | Chemicals | 4.9 | 9,700 |
ITV plc | Media | 4.8 | 4,059 |
Aggreko | Generator hire | 4.6 | 4,262 |
Carnival plc | Leisure | 4.6 | 86,800 |
Whitbread | Retail hospitality | 4.5 | 86,800 |
International Consolidated Airlines Group SA | Transport air | 4.5 | 58,476 |
GKN | Manufacturing | 4.4 | 40,000 |
Eurasian Natural Resources | Mining | 4.3 | 72,000 |
Bunzl | Industrial products | 4.3 | 12,368 |
Sage Group | IT | 4.3 | 12,300 |
RSA Insurance Group | Insurance | 4.2 | 21,000 |
G4S | Security | 4.1 | 657,125 |
Hargreaves Lansdown | Finance | 4.1 | 650 |
Rexam | Packaging | 4.1 | 19,000 |
IMI plc | Engineering | 3.9 | 14,700 |
Babcock International | Consulting | 3.9 | 25,000 |
Tate & Lyle | Food | 3.9 | 5,616 |
Severn Trent | Water | 3.8 | 8,051 |
Polymetal International | Mining | 3.7 | 8,051 |
Hammerson | Property | 3.7 | 277 |
Resolution Limited | Investment | 3.7 | 40 |
Meggitt | Engineering | 3.6 | 7,370 |
Croda International | Chemicals | 3.5 | 3,200 |
TUI Travel | Leisure | 3.5 | 53,000 |
Evraz | Mining | 3.5 | 110,000 |
Admiral Group | Insurance | 3.4 | 2,500 |
AMEC | Consulting | 3.3 | 29,000 |
Melrose plc | Finance | 3.2 | 10,000 |
Serco Group | Outsourced services | 3.1 | 100,000 |
Vedanta Resources | Mining | 1.2 | 32,000 |
Wood Group | Oil and gas | 0.8 | 41,000 |
Kazakhmys | Mining | 0.5 | 61,000 |
Intu Properties | Property services | 0.3 | 600 |
Sumber: Wikipedia
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