Nasdaq OMX Group launched a European government relief index enabling investors to measure the performance of European-listed securities of companies that have participated in programs to recapitalize financial institutions and revitalize European credit markets.
The so–called Nasdaq OMX European Government Relief Index consists of European companies across multiple industry groups that have received a direct investment greater than 500 million Euros from a local government, according to today’s release. Components of the index are selected by the Nasdaq OMX Index Committee, which was created to track European government relief programs. At launch, the European Government Relief index contains 21 companies.
This follows the launch of a U.S. Government Relief Index by Nasdaq OMX earlier this year. “We believe that this index will be a useful tool to help investors tracking the various European governments’ response to the global financial crisis,” stated Nasdaq OMX VP Magdalena Hartman in the release.
The index is calculated in real-time across the combined exchanges and is disseminated in Euros, British Pounds, and U.S. Dollars. The index base value is 1000.0 and the base date is Jan., 5, 2009.
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