Athex Composite Share Price Index

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Athex Composite Share Price Index
base data
Country Greece
Stock exchange Athens Stock Exchange
ISIN GRI99117A004
WKN A0C301
symbol GD
RIC .ATG
Bloomberg code ASE
category Stock index
Type Price index
family Athex indices

The Athex Composite or Athex Composite Share Price Index is the main Greek stock index . The acronym Athex stands for Athens Stock Exchange . The Athex Composite tracks the price development of the 60 largest and top-selling Greek companies on the Athens Stock Exchange. It thus represents the market segment of the Greek standard values and is the leading index for the Greek stock market.

calculation

The Athex Composite Share Price Index is a price index in which the 60 largest and top-selling public companies of the Athens Stock Exchange (Athex) are listed. In order to be included in the index, the company must be financially viable, have high liquidity and be traded on the Athens Stock Exchange. The index level is determined solely on the basis of share prices and only adjusted for income from subscription rights and special payments.

The companies are weighted according to their free float adjusted market capitalization ; There is no maximum value for the share of individual companies. Corporate actions such as stock splits have no (distorting) influence on the index. The composition of the index is reviewed twice a year (April and October). The calculation is updated every 30 seconds during Athex trading hours from 10:30 a.m. to 5:20 p.m. local time (9:30 a.m. to 4:20 p.m. CET ). Another index of the Athens Stock Exchange is the FTSE / Athex Large Cap , in which the 25 largest and most profitable companies in the country are listed.

history

20th century

Athex Composite Share Price Index 1974–2012

The leading Greek index started in 1964 with a base value of 100 points. In January 1978 a value of 1,615.93 points was determined. During the recession in the early 1980s, the stock market suffered price losses. At the end of January 1984 the stock market barometer closed at 710.09 points, 56.1 percent lower than six years earlier. At the end of September 1987, the index ended trading at 8,058.36 points. The profit since January 1984 is 1,035 percent. In 1988 the Athens Stock Exchange revised the index. By December 31, 1980, it was calculated back to a base value of 100 points.

On May 4, 1990, the index closed mathematically for the first time above the 1,000-point mark at 1,002.07 points. On July 5, 1990, it ended trading at 1,684.31 points. During the recession in the early 1990s, the Athex Composite fell to a closing level of 752.14 points by November 12, 1990. Since July 1990 this corresponds to a loss of 55.3 percent. After rising to 1,317.85 points by March 4, 1991, the stock market barometer fell by 57.6 percent in the following 18 months. On November 17, 1992, the Athex Composite finished trading at 558.85 points.

On January 18, 1994, the index closed at 1,195.00 points, 113.8 percent higher. By March 17, 1995, the stock market barometer fell by 34.1 percent to a closing level of 787.00 points. On October 8, 1997, the leading index ended trading at 1,794.14 points. The profit since March 1995 is 128.0 percent. During the Asian crisis , the Athex Composite lost value. On January 29, 1998, it closed at 1,380.13 points. The loss since July 1998 is 23.1 percent.

On May 3, 1998, the Council of the European Union made the decision on the first participating states to the euro . Greece did not meet the EU convergence criteria at this time, but was accepted into the European Economic and Monetary Union on January 1, 2001, as the twelfth country , so that, like the other countries, it was able to issue the first euro coins and notes from January 2002. In 1998 and 1999 the stock index achieved numerous records. On August 23, 1999, it ended trading at 5,066.39 points for the first time above the 5,000 point limit. On September 17, 1999, the leading Greek index closed at 6,355.04 points, an all-time high. The profit since January 1998 is 360.5 percent. The market capitalization of all companies listed in the index on September 17, 1999 was 208.631 billion euros.

21st century

After the speculative bubble in the technology sector ( dot-com bubble ) burst , the index fell to a low of 1,467.30 points by March 31, 2003. That was a decrease of 76.2 percent since October 1999. It was the biggest fall in the history of the Index. March 31, 2003 means the end of the downward slide. From spring 2003 the Athex Composite began to rise again. By October 13, 2007, it rose by 263.7 percent to a closing level of 5,334.50 points.

In the course of the international financial crisis , which started in the US real estate crisis in the summer of 2007, the index lost value. On September 15, 2008 it closed with 2993.05 points below the 3,000 point mark and on October 23, 2008 with 1,914.37 points below the limit of 2,000 points. The share index hit a low on March 9, 2009, when it ended trading at 1,469.41 points. Since October 13, 2007 this corresponds to a decrease of 72.5 percent. March 9, 2009 marks the turning point of the downward trend. From spring 2009 the index was on the way up again. By October 14, 2009 it rose by 97.2 percent to a closing level of 2,896.91 points.

In the course of the Greek financial crisis , which is related to the debt of the Greek state and the destabilization of the European common currency, the Athex Composite lost again in value. On August 8, 2011, it ended trading at 998.24 points for the first time since 1997 below the 1,000 point mark. On August 29, 2011, the index rose 14.37 percent to a closing level of 1,006.59 points. The reason was the announcement of merger negotiations between EFG Eurobank Ergasias and Alpha Bank . With the merger of the second and third largest Greek bank, measured in terms of total assets , the largest private bank in Southeast Europe would be created. On June 5, 2012, the leading Greek index closed at 476.36 points, its lowest level since January 3, 1990. The loss since the high on October 14, 2009 is 83.6 percent and since the all-time high on October 17, 2009. September 1999 at 92.5 percent. The market capitalization of all companies listed in the index was 15.657 billion euros on June 5, 2012.

On June 14, 2012, the index rose 10.12 percent to a closing level of 550.10 points. The reason was speculation that the New Democrats would win the parliamentary elections on June 17, 2012 . The election victory of Nea Dimokratia, a proponent of the austerity course in Greece, as well as the announcement of new bond purchase programs of the European Central Bank and the US Federal Reserve on a basically unlimited scale led to a recovery in prices on the stock market. The monetary stimulus played a bigger role in price formation than the contraction of the Greek economy and the state of business. On January 10, 2013, the Athex Composite closed at 984.85 points, 106.7 percent higher than on June 5, 2012.

Highs

The overview shows the all-time highs of the Athex Composite Share Price Index.

  Points date
in the course of trading 6,484.38 Friday 17th September 1999
on a closing price basis 6,355.04 Friday 17th September 1999

Milestones

The table shows the milestones of the Athex Composite Share Price Index.

First
close
over 		Final
score in points 		date
100 100.00 December 31, 1980
500 504.02 October 13, 1987
1,000 1,002.07 May 4th 1990
1,500 1,572.29 June 26, 1990
2,000 2,063.32 March 27, 1998
2,500 2,627.90 April 21, 1998
3,000 3,000.75 January 7, 1999
3,500 3,537.90 March 12, 1999
4,000 4,037.02 May 7, 1999
4,500 4,528.38 July 19, 1999
5,000 5,066.39 August 23, 1999
5,500 5,621.67 September 6, 1999
6,000 6,032.85 September 13, 1999

Annual development

The table shows the annual development of the Athex Composite Share Price Index.

year Final
score in points 		Change
in points 		Change
in%
1980 100.00
1981 86.59 −13.41 −13.41
1982 93.42 6.83 7.89
1983 58.26 −35.16 −37.64
1984 59.18 0.92 1.58
1985 70.95 11.77 19.89
1986 103.86 32.91 46.38
1987 272.47 168.61 162.34
1988 279.65 7.18 2.64
1989 459.43 179.78 64.29
1990 932.00 472.57 102.86
1991 809.71 −122.29 −13.12
1992 672.31 −137.40 −16.97
1993 958.66 286.35 42.59
1994 868.91 −89.75 −9.36
1995 914.15 45.24 5.21
1996 933.48 19.33 2.11
1997 1,479.63 546.15 58.51
1998 2,737.55 1,257.92 85.02
1999 5,535.09 2,797.54 102.19
2000 3,388.86 −2,146.23 −38.77
2001 2,591.56 -797.30 −23.53
2002 1,748.42 −843.14 −32.53
2003 2,263.58 515.16 29.46
2004 2,786.18 522.60 23.09
2005 3,663.90 877.72 31.50
2006 4,394.13 730.23 19.93
2007 5,178.83 784.70 17.86
2008 1,786.51 −3,392.32 −65.50
2009 2,196.16 409.65 22.93
2010 1,413.94 −782.22 −35.62
2011 680.42 −733.52 −51.88
2012 907.90 227.48 33.43
2013 1,162.68 254.78 28.06
2014 826.18 −336.50 −28.94
2015 939.41 −268.32 −22.22
2016 981.85 42.44 4.52
2017 1,247.44 265.59 27.05
2018 973.38 −274.06 −21.97

Composition in 2011

The Athex Composite Share Price Index is made up of the following companies (as of February 22, 2011).

Surname Branch Index weighting in%
Aegean Airlines Airlines 0.29
Alapis Group Pharma 0.28
Alpha Bank Banks 5.18
S&B Industrial Minerals Mining 0.50
J&P Avax Construction 0.20
Jumbo SA Toys 1.41
Viohalco Aluminum industry 1.75
Bank of Cyprus Banks 5.63
Coca-Cola HBC beverages 13.99
Elval Aluminum industry 0.34
Ellaktor Construction 1.32
Hellenic Petroleum oil and gas 4.47
National Bank of Greece Banks 14.08
Eurobank Properties property 0.79
EFG Eurobank Ergasias Banks 4.90
Hellenic Exchanges Financial service providers 0.86
Thessaloniki Water and Sewage Company Supplier 0.32
Athens Water and Sewerage Company Supplier 1.09
Hellenic Duty Free Shops retail trade 1.80
Forthnet Internet service 0.19
Fourlis Household products 0.63
Frigoglass mechanical engineering 0.88
Gek Terna Holding Construction 0.64
Hellenic Telecom telecommunications 7.02
DTCA Hygeia health 0.23
Iaso SA health 0.15
Intralot Gambling 0.84
Lamda Development property 0.34
Metka mechanical engineering 1.07
Marfin Investment Group Financial service providers 1.37
Motor Oil Hellas oil and gas 1.92
Mytilineos Holdings metallurgy 1.27
Thessaloniki Port Authority transport 0.30
OPAP Gambling 9.63
Plaisio computer 0.21
Piraeus Port Authority transport 0.76
Public Power Corporation Supplier 5.60
Sarantis domestic appliances 0.24
Sidenor Steel industry 0.63
Terna Energy Supplier 0.80
Titanium cement Building material 2.42
Piraeus Bank Banks 3.67

Web links

Individual evidence

  1. ^ Meridian Securities Markets, Electronic Commerce Inc .: World Stock Exchange Fact Book , Electronic Commerce Inc., Morris Plains NJ 1995, ISBN 1-891518-19-4
  2. ↑ a b Athens Stock Exchange: Daily Official List ( Memento from September 12, 2016 in the Internet Archive )
  3. ↑ Handelsblatt: Eurobank and Alpha Bank merge , August 29, 2011
  4. ↑ Wall Street Journal: Speculation about election outcome causes bull market on Athens Stock Exchange , June 14, 2012
  5. ↑ a b c Stooq: Historical prices from 1987
  6. ↑ Yahoo: Historical prices from 2000
  7. ↑ Maurice Garneau: World Directory of Stock Exchanges 1994–1995 , Western Institute for Social Research, Berkeley CA 1994, ISBN 0-9694928-5-5
  8. ↑ Athens Stock Exchange: Athex Fact Book ( Memento from December 19, 2007 in the Internet Archive )
  9. ↑ Athens Stock Exchange Composite Total Return Index (Greece) Yearly Stock Returns. Retrieved December 13, 2019 .
  10. ↑ Athens Stock Exchange: Index Composition ( Memento of October 15, 2011 in the Internet Archive )