Stoxx launches ex-financials and ex-banks indices for Europe and Euro Zone

STOXX Limited announced the launch of a new set of ex Financials and ex Banks indices for Europe and the Euro zone. The new indices exclude all companies which are part of the Industry Classification Benchmark’s (ICB) industry Financials or the supersector Banks, respectively.…

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The EURO STOXX ex Financials, EURO STOXX ex Banks, EURO STOXX Large ex Financials, STOXX Europe Large ex Financials, STOXX Europe Large ex Banks, EURO STOXX Large ex Banks, STOXX Europe 600 ex Financials, STOXX Europe 600 ex Banks, EURO STOXX 50 ex Financials, EURO STOXX 50 ex Banks, STOXX Europe 50 ex Financials and STOXX Europe 50 ex Banks indices are designed to implement specific investment strategies, and can be used for benchmarking purposes, or as underlying for passive investment products.

“The STOXX ex Financials and STOXX ex Banks indices are the latest addition to our standard range of equity indices for Europe and the Euro zone,” said Hartmut Graf, chief executive officer, STOXX Limited. “The new indices offer market participants a tool to implement investment strategies that exclude exposure to financial or bank stocks, while at the same time relying on the superior and established methodology and composition of Europe’s favourite equity indices.”

The STOXX ex Financials and STOXX ex Banks indices follow the same methodology as the respective underlying indices. The ex Financials indices exclude all companies in the underlying index, which are classified as ICB industry Financials (code 8000), while the ex Banks indices exclude all companies in the underlying index which are classified as ICB supersector Banks (code 8300). Furthermore, the new indices use the cap factors of the respective underlying index.

The new indices are reviewed together with the underlying indices. They are available in price, net and gross return versions, and calculated in euro and U.S. dollar. Daily historical index values are available back to September 20, 2004.

Source: ETFWorld – STOXX

STOXX Limited, the market-moving provider of innovative, tradable and global index concepts, today announced the launch of a new set of ex Financials and ex Banks indices for Europe and the Euro zone. The new indices exclude all companies which are part of the Industry Classification Benchmark's (ICB) industry Financials or the supersector Banks, respectively.