CAC 40

CAC 40 is a French leading index of 40 leading French public companies that are traded on the Paris Bourse. CAC stands for Cotation Assistée en Continu ( continuous quotation ). The index base is at 1,000.00 points as at 31 December 1987. This is in contrast to the DAX by a price index, dividends, are not included in the index.

Calculation

The CAC 40 is a price index. It comprises the 40 most actively traded French joint stock companies, which are traded on the Euronext Paris Euro. The Index will be determined solely on the basis of share prices and adjusted only to income from subscription rights and special. Weighting is next to the market capitalization, even after the stock market value in free float. Corporate actions such as stock splits have no ( distorting ) influence on the index. The calculation is updated every second during the trading hours of 9:00 am bis 17:30 clock clock CET.

The stocks that are available must belong to the most important companies in France. Here, the headquarters plays a role as well as other features that sets the index committee. The composition is reviewed quarterly by the index committee and adjusted if necessary. The weight of a company must not exceed the limit of 15 percent. This limit is reviewed annually by the end of September and reduced if they exceed this level.

The index value I of the CAC 40 is calculated by the following formula.

History

20th century

The CAC 40 was published on 31 December 1987 with a base value of 1,000 points for the first time. The return statement was until 1969 (daily rates) and to 1965 ( weekly rates).

On 8 May 1981, the index stood at 426.56 points. On May 10, 1981 François Mitterrand of the Socialist Party was elected French president. As a result, a strong capital flight from France. The Paris Bourse was on Monday and Tuesday, May 11 and 12, closed. On 13 May 1981, the CAC 40 suffered with 12.99 percent computationally the biggest one-day loss in history. Until June 15, 1981, he fell to 300.95 points. The loss since May 8, 1981 is 29.4 percent.

On 29 December 1989, the index closed at 2001.08 points for the first time over the 2,000 - point mark on 23 July 1997 with 3003.53 points for the first time above the limit of 3,000 points. Also in the following years marked the index more record highs. On 4 January 1999, the CAC 40 finished with 4147.50 points for the first time to trade above the 4,000 - point mark on 10 November 1999 with 5051.83 points for the first time above the limit of 5,000 points. The 6,000-point mark overcame the CAC 40 for the first time as he closed on 3 February 2000, with 6149.67 points. On 4 September 2000, the index with a closing level of 6922.33 points, an all time high.

21st Century

After the bursting of the speculative bubble in the technology sector ( dotcom bubble ) of the stock index fell to a low of 2403.04 points to 12 March 2003. This was a decline from September 2000 to 65.3 per cent. March 12, 2003 marks the end of the descent. From the spring of 2003, the CAC 40 began to rise again. Until 1 June 2007, the stock index rose to a closing level of 6168.15 points. Since the low in March 2003, the profit amounted to 156.7 percent.

In the course of the international financial crisis in the U.S. real estate crisis originated in the summer of 2007, the CAC 40 began to fall again. On 21 January 2008, the index closed at 4744.45 points below the limit of 5,000 points and 18 September 2008 with 3957.86 points below the 4,000 -point mark. Due to the fear about the U.S. real estate crisis increased volatility. On 13 October 2008, the CAC 40 scored 11.18 percent of the largest daily gain in its history. On 20 November 2008 coincided with a closing level of 2980.42 points, the limit of 3,000 points. A new low was achieved by the Index on March 9, 2009, when he finished trading with 2519.29 points. Since June 1, 2007, this represents a decrease of 59.2 percent. The March 9, 2009 marked the turning point of the descent.

From the spring of 2009, the CAC 40 was back on the way up. Until February 18, 2011, he rose by 65.0 percent to a closing level of 4157.14 points. The slowdown in the global economy and the intensification of the euro crisis led to a fall in the French benchmark index. On 22 September 2011, the CAC 40 ended the day at 2781.68 points. The loss since its peak on 18 February 2011 is 33.1 percent.

The announcement of new bond purchase programs of the European Central Bank and the U.S. Federal Reserve in principle unlimited extent led to a recovery of prices in the stock market. The monetary stimulus played a greater role in price formation, as the global economic slowdown and the position of the company. On January 2, 2013, the index closed at 3733.93 points, up by 34.2 per cent as on September 22, 2011.

Highs

The overview shows the all-time highs in the CAC 40

Milestones

The table shows the milestones of the back-calculated to 1969 CAC 40

The best days

The table shows the best days of back-calculated to 1969 CAC 40

The worst day

The table shows the worst days of back-calculated to 1969 CAC 40

Annual development

The table shows the development of the back-calculated to 1969 CAC 40

Composition

The CAC 40 is composed of the following companies (as of February 20, 2013 ).