CAC 40

CAC 40
base data
Country	France
Stock exchange	Euronext Paris
ISIN	FR0003500008
WKN	969400
symbol	C40
RIC	^ FCHI
Bloomberg code	CAC <INDEX>
category	Stock index
Type	Price index
family	Euronext

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

calculation

The CAC 40 is a price index . It comprises the 40 top-selling French public limited companies that are traded on Euronext Paris . The index level is determined solely on the basis of share prices and only adjusted for income from subscription rights and special payments. In addition to market capitalization , weighting is also based on the 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 trading hours from 9:00 a.m. to 5:30 p.m. CET .

The stocks that are available to choose from must be among the most important companies in France. The headquarters of the company plays a role as well as other characteristics that the index committee determines. The composition is reviewed every quarter by the Index Committee and adjusted if necessary. The weight of a company must not exceed the limit of 15 percent. This upper limit is checked annually at the end of September and reduced to this level if exceeded.

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

${\displaystyle I_{t}=1000\times {\frac {\sum _{i=1}^{N}Q_{i,t}\,F_{i,t}\,f_{i,t}\,C_{i,t}\,}{K_{t}\,\sum _{i=1}^{N}Q_{i,0}\,C_{i,0}\,}}}$

history

20th century

CAC 40 Index 1964-2016

The CAC 40 was first published on December 31, 1987 with a base value of 1,000 points. The calculation was carried out until 1969 (daily courses) and until 1965 (weekly courses).

On May 8, 1981, the index stood at 426.56 points. On May 10, 1981, François Mitterrand was elected President of France by the Parti socialiste . As a result, there was a strong flight of capital from France. The Paris Stock Exchange was closed on Monday and Tuesday, May 11th and 12th. On May 13, 1981, the CAC 40 suffered the largest daily loss in its history, at 12.99 percent. By June 15, 1981, it had dropped to 300.95 points. The loss since May 8, 1981 was 29.4 percent.

On December 29, 1989, the index closed at 2,001.08 points for the first time above the 2,000 point mark and on July 23, 1997 at 3,003.53 points for the first time above the 3,000 point limit. In the years that followed, the index set further record levels. On January 4, 1999, the CAC 40 ended trading above the 4,000 point mark for the first time with 4,147.50 points, and on November 10, 1999 with 5,051.83 points for the first time above the 5,000 point limit. The CAC 40 passed the 6,000 point mark for the first time on February 3, 2000, when it closed with 6,149.67 points. On September 4, 2000, the index marked an all-time high with a closing level of 6,922.33 points.

21st century

After the speculative bubble burst in the technology sector ( dot-com bubble ), the share index fell to a low of 2,403.04 points by March 12, 2003. That was a decrease of 65.3 percent since September 2000. March 12, 2003 means the end of the downward slide. From the spring of 2003, the CAC 40 began to rise again. By June 1, 2007, the share index rose to a closing level of 6,168.15 points. Since the low in March 2003, the profit is 156.7 percent.

In the course of the international financial crisis , which had its origin in the US real estate crisis in summer 2007, the CAC 40 began to decline again. On January 21, 2008 the index closed at 4,744.45 points below the limit of 5,000 points and on September 18, 2008 with 3,957.86 points below the 4,000 point mark. Volatility increased due to the fear surrounding the US real estate crisis . On October 13, 2008, the CAC 40 achieved the largest daily gain in its history with 11.18 percent. On November 20, 2008, with a final score of 2,980.42 points, the limit of 3,000 points also fell. The index hit a new low on March 9, 2009, when it ended trading at 2,519.29 points. Since June 1, 2007 this corresponds to a decrease of 59.2 percent. March 9, 2009 marks the turning point of the downward trend.

From spring 2009 the CAC 40 was on the way up again. By February 18, 2011, it rose by 65.0 percent to a closing level of 4,157.14 points. The weakening of the global economy and the worsening of the euro crisis led to a slump in the French benchmark index. On September 22, 2011, the CAC 40 ended trading at 2,781.68 points. The loss since the high on February 18, 2011 is 33.1 percent.

The announcement of new bond purchase programs by the European Central Bank and the US Federal Reserve , which are basically unlimited, led to a recovery in prices on the stock market. The monetary stimulus played a bigger role in the price formation than the global economic slowdown and the state of the companies. On January 2, 2013, the index closed at 3,733.93 points, 34.2 percent higher than on September 22, 2011.

Highs

The overview shows the all-time highs of the CAC 40.

	Points	date
in the course of trading	6,944.77	Monday 4th September 2000
on a closing price basis	6,922.33	Monday 4th September 2000

Milestones

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

First close over Final score in points date 500 501.35 November 10, 1983 1,000 1,000.59 January 28, 1986 1,500 1,500.53 January 23, 1987 2,000 2,001.08 December 29, 1989 2,500 2,503.06 January 30, 1997 3,000 3,003.53 July 23, 1997 3,500 3,525.85 March 9, 1998 4,000 4,017.24 May 11, 1998 4,500 4,508.77 June 17, 1999 5,000 5,051.83 November 10, 1999 5,500 5,509.97 December 6, 1999 6,000 6,149.67 February 3, 2000 6,500 6,514.11 March 3, 2000 The best days The table shows the best days of the CAC 40 calculated back to 1969. rank date Final score in points Change in points Change in% 1 Oct 13, 2008 3,531.50 355.01 11.18 2 Nov 24, 2008 3,172.11 290.85 10.09 3 May 10, 2010 3,720.29 327.70 9.66 4th 19 Sep 2008 4,324.87 367.01 9.27 5 Oct 29, 2008 3,402.57 287.65 9.23 6th 0Dec 8, 2008 3,247.48 259.47 8.68 7th Nov 12, 1987 1,036.57 81.85 8.57 8th 14 Mar 2003 2,740.01 185.29 7.25 9 Jan. 17, 1991 1,560.47 102.70 7.05 10 July 29, 2002 3,395.83 223.27 7.04 11 Oct 15, 2002 3,086.03 200.76 6.96 12 Oct. 29, 1987 1,075.50 66.58 6.60 13 26 Sep 2002 2,961.46 176.08 6.32 14th 13 Mar 2003 2,554.71 151.67 6.31 15th Oct 29, 1997 2,818.00 166.67 6.29 16 Oct. 27, 2011 3,368.62 199.00 6.28 17th Nov 16, 1987 1,101.16 62.45 6.01 18th Jan. 24, 2008 4,915.29 278.53 6.01 19th 27 Sep 2011 3,023.38 164.04 5.74 20th 10 Mar 2009 2,663.68 144.39 5.73 21st Sep 24 2001 3,861.19 208.32 5.70 22nd Oct 12, 1998 3,263.32 170.42 5.51 23 Nov 28, 2011 3,012.93 155.96 5.46 24 0Aug 6, 2002 3,284.79 169.41 5.44 25th 0Apr 2, 2009 2,992.06 152.45 5.37 26th 0Oct 6, 1998 3,136.48 156.59 5.26 27 Oct 11, 2002 2,902.27 143.74 5.21 28 0Jan. 4, 1999 4,147.50 204.84 5.20 29 0Apr 7, 1977 218.39 10.58 5.09 30th Aug 27, 1990 1,699.72 82.30 5.09 The worst days The table shows the worst days of the CAC 40 calculated back to 1969. rank date Final score in points Change in points Change in% 1 May 13, 1981 371.16 −55.40 −12.99 2 Oct 19, 1987 1,208.99 −128.99 −9.64 3 0Oct 6, 2008 3,711.98 -368.77 −9.04 4th Oct 28, 1987 1,008.92 −96.20 −8.70 5 Oct 26, 1987 1,090.85 -96.17 −8.10 6th Oct 10, 2008 3,176.49 −266.21 −7.73 7th Sep 11 2001 4,059.75 −323.99 −7.39 8th Nov 10, 1987 954.72 -75.51 −7.33 9 Jan. 21, 2008 4,744.45 −347.95 −6.83 10 Oct 15, 2008 3,381.07 −247.45 −6.82 11 0Oct 8, 2008 3,496.89 −235.33 −6.31 12 0Nov 6, 2008 3,387.25 −230.86 −6.38 13 Oct 16, 1989 1,809.81 −121.46 −6.29 14th Oct 16, 2008 3,181.00 −200.07 −5.92 15th Sep 30 2002 2,777.45 −173.07 −5.87 16 24 Mar 2003 2,726.85 −163.83 −5.67 17th 0Dec 1, 2008 3,080.43 −182.25 −5.59 18th 0Dec 5, 2008 2,988.01 −173.15 −5.48 19th Aug 18, 2011 3,076.04 −178.30 −5.48 20th 17 Sep 1998 3,525.26 −204.06 −5.47 21st Aug 10, 2011 3,002.99 −173.20 −5.45 22nd July 15, 2002 3,323.74 −189.60 −5.40 23 July 19, 2002 3,324.04 −189.67 −5.40 24 0Nov 1, 2011 3,068.33 −174.51 −5.38 25th July 22, 2002 3,149.69 −174.35 −5.25 26th 22 Sep 2011 2,781.68 −154.14 −5.25 27 0Aug 6, 1990 1,773.79 −95.66 −5.12 28 0Aug 1, 2002 3,240.71 −174.67 −5.11 29 Oct 22, 2008 3,298.18 −177.22 −5.10 30th 29 Sep 2008 3,953.48 −209.90 −5.04

Annual development

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

year	Final score in points	Change in points	Change in%
1969	334.12
1970	310.48	−23.64	−7.08
1971	286.13	−24.35	−7.84
1972	335.18	49.05	17.14
1973	325.65	−9.53	−2.84
1974	225.45	−100.20	−30.77
1975	294.60	69.15	30.67
1976	244.50	−50.10	−17.01
1977	228.98	−15.52	−6.35
1978	335.53	106.55	46.53
1979	392.69	57.16	17.04
1980	422.39	29.70	7.56
1981	352.11	−70.28	−16.64
1982	352.82	0.71	0.20
1983	552.86	200.04	56.70
1984	640.01	87.15	15.76
1985	937.79	297.78	46.53
1986	1,403.51	465.72	49.66
1987	1,000.00	−403.51	−28.75
1988	1,573.94	573.94	57.39
1989	2,001.08	427.14	27.14
1990	1,517.93	−483.15	−24.14
1991	1,765.66	247.73	16.32
1992	1,857.80	92.14	5.22
1993	2,268.22	410.42	22.09
1994	1,881.15	−387.07	−17.06
1995	1,871.97	−9.18	−0.49
1996	2,315.73	443.76	23.71
1997	2,998.91	683.18	29.50
1998	3,942.66	943.75	31.47
1999	5,858.32	1,915.66	48.59
2000	5,926.42	68.10	1.16
2001	4,624.58	−1,301.84	−21.97
2002	3,063.91	−1,560.67	−33.75
2003	3,557.90	493.99	16.12
2004	3,821.16	263.26	7.40
2005	4,715.23	894.07	23.40
2006	5,541.76	826.53	17.53
2007	5,614.08	72.32	1.31
2008	3,217.97	−2,396.11	−42.68
2009	3,936.33	718.36	22.32
2010	3,804.78	−131.55	−3.34
2011	3,159.81	-644.97	−16.95
2012	3,641.07	481.26	15.23
2013	4,295.95	654.88	17.99
2014	4,272.75	−23.20	−0.54
2015	4,637.06	364.31	8.53
2016	4,862.31	225.25	4.86
2017	5,312.56	450.25	9.26

composition

The CAC 40 consists of the following companies (as of May 29, 2020):

Surname	Abbreviation	country	Branch	Weighting in%	logo
Accor	AC	FR	Hotel industry	0.46
Air Liquide	AI	FR	chemistry	5.19
airbus	AIR	FR	Aircraft construction	3.38
ArcelorMittal	MT	LU	steel	0.56
Atos	ATO	FR	consultation	0.62
AXA	CS	FR	Insurance	3.08
BNP Paribas	BNP	FR	Banks	3.60
Bouygues	EN	FR	construction	0.59
Capgemini	CAP	FR	consultation	1.36
Carrefour	CA	FR	retail trade	0.77
Crédit Agricole	ACA	FR	Banks	0.87
Danone	BN	FR	Food and beverage	3.80
Dassault Systèmes	DSY	FR	software	1.83
Engie	ENGI	FR	Supplier	1.83
EssilorLuxottica	Tbsp	FR	Consumer goods	3.38
Hermes	RMS	FR	Luxury goods	2.14
Kering	KER	FR	Luxury goods	3.36
Legrand	LR	FR	Industrial goods	1.52
L'Oréal	OR	FR	Consumer goods	6.02
LVMH	MC	FR	Luxury goods	9.85
Michelin	ML	FR	Automotive supplier	1.60
orange	ORA	FR	telecommunications	1.84
Pernod Ricard	RI	FR	Food and beverage	2.66
Peugeot	Basement	FR	vehicle construction	0.76
Publicis Groupe	PUB	FR	media	0.56
Renault	RNO	FR	vehicle construction	0.44
saffron	SAF	FR	Industrial goods	2.72
Saint-Gobain	SGO	FR	Building materials	1.32
Sanofi	SAN	FR	Pharma	9.21
Schneider Electric	SU	FR	Industrial goods	4.59
Société Générale	GLE	FR	Banks	1.10
Sodexo	SW	FR	Catering	0.53
STMicroelectronics	STM	NL	semiconductor	1.31
Thales	HO	FR	armor	0.69
Total	FP	FR	Oil & gas	8.18
Unibail-Rodamco-Westfield	URW	NL	property	0.68
Veolia	VIE	FR	Supplier	1.05
Vinci	DG	FR	construction	4.08
Vivendi	VIV	FR	media	1.63
Worldline	WLN	FR	Payment service provider	0.82

See also

Category: Companies in the CAC40

Other companies are listed in the following indices.

• CAC Next 20 (company following CAC 40)
• CAC Mid 60 (formerly CAC Mid 100) - (following the CAC 40 and CAC Next 20 companies)
• CAC Small (formerly CAC Small 90) - (following the CAC 40, CAC Next 20 and CAC Mid 60)
• CAC IT 20 - (Communication / IT)

Web links

• Index on Euronext
• Index at Bloomberg
• Index at Yahoo

Commons : CAC 40  - collection of pictures, videos and audio files

Individual evidence

1. ↑ NYSE Euronext: Rules of the CAC 40 index ( Memento June 16, 2011 in the Internet Archive )
2. ↑ ^{a b c d e} Université de Lausanne: The database with stock indices 1969–2004
3. ↑ ^{a b} Stooq: Historical prices from 1965
4. ↑ ^{a b c d e} Yahoo: Historical prices from 1990
5. ↑ 1Stock1: CAC 40 Index (France) Yearly Returns
6. ↑ CAC40. Euronext, accessed September 24, 2019 .