Inditex, ready to enter the EuroStoxx 50
Aug 26, 2011
Zara´s parent group, Inditex, has been shortlisted to enter the EuroStoxx 50. The largest world fashion retailer recently joined the Spanish benchmark index, the Ibex35, substituting Picking Pack. Zara´s group might take the place of Deutsche Börse or Crédit Agricole among the largest listed European companies, financial journal Expansión published on Thursday. The index´s board will release its new composition at the end of this month, being the next review on September the 3rd.
The Euro Stoxx 50 Index, a benchmark portion for nations using the euro, has been designed by Stoxx Ltd, an index provider owned by Deutsche Börse and SIX Group "to provide a blue-chip representation of Supersector leaders in the Eurozone". Up to the date, the only representative company of the fashion industry is the luxury mogul group LVMH.
Direct rival for the Spanish retailer is French Essilor, maker of ophthalmological lenses. Nevertheless, every change to be made within the European benchmark would depend on next days´ trading.
By now, Inditex already belongs to the Stoxx 600 Index, which agglutinates the 600 largest traded companies in Europe. Amancio Ortega´s brainchild holds the 278th position in the index, what positions it at the medium sized range.
According to specialists, this position responds to Inditex low floating capital what implies that not all its shares are accounted for this purpose. In
other words, even when the company´s market value rises to 11, 850 euro million, for the Euro Stoxx Zara´s group is valued at 3,642 million euro.