CAC 40

2,348 views

Published on

Published in: Education
1 Comment
0 Likes
Statistics
Notes
  • You can find an updated CAC 40 dividend list in the following site. www.dividendsranking.com/Index/CAC-40.php You should take a look.
       Reply 
    Are you sure you want to  Yes  No
    Your message goes here
  • Be the first to like this

No Downloads
Views
Total views
2,348
On SlideShare
0
From Embeds
0
Number of Embeds
8
Actions
Shares
0
Downloads
12
Comments
1
Likes
0
Embeds 0
No embeds

No notes for slide
  • We still need to discuss the Eps bit, so marked it in black. If the need be we’ll remove it tmrw!
  • CAC 40

    1. 1. CAC 40
    2. 2. Contents Introduction CAC FamilyReview and Selection Criteria Performance Components Calculations Impact of Eurozone Crisis
    3. 3. Introduction French stock market index CAC 40: Continuous Assisted Quotation Launched on 31 December 1987 with base value of 1000 1st December 2003 Total Market Free Float Cap Market Cap Impact of Review &Introduction CAC Family Performance Components Calculations Eurozone Selection Criteria Crisis
    4. 4. Introduction Index Type Price Index Governance Structure Conseil Scientifique & NYSE Euronext Weighting Free float adjusted market cap Capping 15 % Calculation Frequency 15 s Impact of Review &Introduction CAC Family Performance Components Calculations Eurozone Selection Criteria Crisis
    5. 5. CAC Family CAC 20  20 constituents  20 highest ranking companies not included in the CAC 40  Base date: 31/12/2002  Base level: 3000 CAC large 60  Companies included in CAC 40 and CAC Next 20  60 constituents  Base date: 03/01/2006  Base level: 5000 Impact of Review &Introduction CAC Family Performance Components Calculations Eurozone Selection Criteria Crisis
    6. 6. CAC Family CAC mid 60  The 60 highest raking companies not included in the CAC Large 60  60 constituents  Base date: 31/12/2002  Base level: 3000 SBF 120  All companies included in CAC Large 60 and CAC Mid 60  120 constituents  Base date: 28/12/1990  Base level: 1000 Impact of Review &Introduction CAC Family Performance Components Calculations Eurozone Selection Criteria Crisis
    7. 7. CAC Family CAC small  Continuation of the CAC Small 90 since March 2011  Companies not included in SBF 120  Variable constituents  Base date: 31/12/2002  Base level: 3000 CAC mid & small  Continuation of CAC Mid & Small 190 since March 2011  All companies included in CAC Mid 60 and CAC Small  Variable constituents  Base date 30/12/2002  Base level 3000 Impact of Review &Introduction CAC Family Performance Components Calculations Eurozone Selection Criteria Crisis
    8. 8. Review and Selection Review  To ensure that selection and weighting reflects the underlying market or market segment  Annual Review: Effective after close of 3rd Friday of September  Quarterly Reviews: Effective after close of 3rd Friday of December, March, and June Impact of Review &Introduction CAC Family Performance Components Calculations Eurozone Selection Criteria Crisis
    9. 9. Review and Selection Selection Basis:  Combined Ranking:  the value of Regulated Turnover observed over a 12- month period  the free float adjusted market capitalization on the Review Date  Minimum Trading Velocity  Minimum Free Float Impact of Review &Introduction CAC Family Performance Components Calculations Eurozone Selection Criteria Crisis
    10. 10. CAC 40 : Index and Events Dot Com Bubble Subprime Crisis Eurozone Crisis Free Float Impact of Review &Introduction CAC Family Performance Components Calculations Eurozone Selection Criteria Crisis
    11. 11. Performance Average Yearly Volatility (%) 40 30 20 10 0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Annual Return % Best Performance Since 2000 1 year Performance Date -23.39 2 years Day 11.18% 13/10/2008 -11.20 3 years Month 13.41% October 2002 -3.96 5 years Year 20.86% Q3 2009 -9.33 10 years -3.81 Impact of Review &Introduction CAC Family Performance Components Calculations Eurozone Selection Criteria Crisis
    12. 12. CAC40 v/s GDP Growth Rate v/s Govt Bond yield6 60005 500043 40002 GDP Growth rate (%)1 3000 Govt Bond yield0 CAC40 2000-1-2 1000-3-4 0
    13. 13. Components Components – Industry wise Financial 2 3 Communicatios 4 Utilities 9 Consumer, Non Cyclical Consumer, Cyclical 4 Basic Material Diversified 2 Energy 1 Industrial 6 2 Technology 4 Impact of Review &Introduction CAC Family Performance Components Calculations Eurozone Selection Criteria Crisis
    14. 14. Company Wise Analysis Co. TOTAL SANOFI – BNP Paribus Aventis Sector Oil & Gas Healthcare Banking Rank (as per mcap) /Weight 1/ 13.5 2/ 9.92 3/ 5.15 (%) Mcap (in Euro million) 84,176.42 65,239.44 31,220.08 Shares Outstanding (million) 2,358.54 1,341.04 1,207.74 Beta .67 .58 1.39 52 week: High – Low (in Euro) 44.55 – 29.40 56.82 – 42.85 59.93 – 22.72 P/e ratio 6.69 13.58 4.77 Dividend Yield (%) 6.39 5.18 8.12 Dividend Payout Ratio (%) 53.21 - 39.49 Impact of Review &Introduction CAC Family Performance Components Calculations Eurozone Selection Criteria Crisis
    15. 15. Recommendation/ Co. TOTAL SANOFI – Aventis BNP Paribus Nov’ 11 Aug’ 11 Nov’ 11 Aug’ 11 Nov’ 11 Aug’ 11Buy 13 12 12 13 18 16Outperform 6 4 6 4 2 3Hold 19 18 9 11 8 10Underperform 2 2 0 1 2 1Sell 1 1 1 0 0 0
    16. 16. Calculations The general formula for Price Index: Impact of Review &Introduction CAC Family Performance Components Calculations Eurozone Selection Criteria Crisis
    17. 17. Calculations The total return index calculation Transpose the announced dividend payment into index points The dividend is assumed to be reinvested at the close of the ex-date Impact of Review &Introduction CAC Family Performance Components Calculations Eurozone Selection Criteria Crisis
    18. 18. Comparisons with Europe Market Cap Impact of Review &Introduction CAC Family Performance Components Calculations Eurozone Selection Criteria Crisis
    19. 19. Impact of Eurozone Crisis German Bond Auction flopped Italy new government – vulnerable Portugal rated as Junk by Moody’s -25% France rating AAA, however the investor sentiment low Its government bond yield is high Part of the bailout fund European Financial Stability Facility (EFSF) Focus on the upcoming bond auctions in order to the judge the investor sentiments Impact of Review &Introduction CAC Family Performance Components Calculations Eurozone Selection Criteria Crisis
    20. 20. Presented By: Apoorva Sharma Deepika MisraThank You Devika Bhatia Gohan Kumar Kartikey Bhargava Nikhil Marwah

    ×