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News
March 13, 2012
Metropol announces the launch of the benchmark Metropol Second Tier Stock Index
Metropol announces the launch of the benchmark Metropol Second
Tier Stock Index, which is designed to track the performance of the
most promising mid and small cap names traded in the market today.
As a leading specialist in “second tier” company research, we have
created the index as another step in offering our clients superior
analytical support.
We are proud to present the Metropol Second Tier Stock Index, which
will reflect the share price dynamics of the most liquid and
widely-held names in the “second tier” universe of the Russian
stock market.
The index value will be calculated based on the daily closing
prices of the stocks that compose the index. The proportion of each
stock in the index will be based on the stock’s free float, but no
company will exceed 10% of the index. The index value will be
calculated daily at the market close. The initial index value will
be set at 100 as of Saturday, March 10.
The stocks represented in the index must have a free float of no
less than 5%, an average daily trading volume of no less than RUB
3mn, and a market capitalization of no more than USD 2bn. However,
there are several exceptions to these rules as certain names
exhibit free float or daily trading volumes slightly below our
stated thresholds. We plan to launch industry-specific indexes in
the near future.
The Index is intended to be broadly representative of Russia’s
stock market universe, including companies from the utilities,
metals, financial services, transport, auto manufacturing,
infrastructure, oil & gas, consumer, real estate development,
media and telco sectors. The composition of the index will be
reviewed on a quarterly basis.
We believe that the index will assist our clients and other market
participants in assessing the performance of the “second tier”
portion of the Russian equity market and will be helpful in making
investment decisions and formulating trading strategies.
Metropol prides itself on being a leading authority on the second
tier market, with unique expertise and knowledge backed by more
than ten years of experience in research focused on companies in
this segment. Over the past few years, Metropol has developed the
market’s broadest analytical coverage beyond the blue chips, and
our research efforts continue to expand.
One of our greatest analytical strengths has always been our
ability to identify the next blue chip among second tier names. The
launch of the Metropol Second Tier Index is another step in this
direction.
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