«The Weight of the stocks in the Paris Stock Exchange Index »

modernes Bürogebäude -- Hochhäuser in Paris

The CAC 40 “Cotation Assistée en Continu” is a benchmark French stock market indexThe index represents a capitalization-weighted measure of the 40 most significant values among the 100 highest market caps on the Paris Bourse (now Euronext Paris). It is one of the main national indices of the pan-European stock exchange group Euronext alongside Brussels‘ BEL 20Lisbon‘s PSI 20 and Amsterdam‘s AEX.

The figures hereafter show the weighting of the companies for the computation of the CAC 40 index’s performance in decreasing order :

Total 11,68%
Sanofi 10,27%
Bnp Paribas 6,64%
LVMH 4,24%
Schneider Electric 4,07%
Axa 4,02%
Societe Generale 3,87%
Airbus Group 3,55%
Air Liquide 3,49%
L’oréal 3,26%
Danone 3,13%
Vinci 2,98%
GDF Suez 2,98%
Vivendi 2,81%
Orange 2,28%
Saint Gobain 2,17%
Unibail-Rodamco 2,09%
Carrefour 2,02%
Michelin 1,93%
Pernod Ricard 1,88%
Essilor Intl 1,62%
Renault 1,55%
Safran 1,46%
Publicis Groupe 1,42%
Legrand SA 1,38%
Credit Agricole 1,35%
ArcelorMittal 1,33%
Kering 1,28%
Lafarge 1,25%
EDF 0,93%  
Alcatel-Lucent 0,92%  
Cap Gemini 0,87%  
Technip 0,85%  
Solvay 0,75%  
Accor 0,72%  
Gemalto 0,69%  
Veolia Environ. 0,63%  
Bouygues 0,61%  
Alstom 0,53%  
Vallourec 0,49%  
     

So we can note the main companies who have the biggest weight in the index are Total(integrated oil and gas), Sanofi(Pharmaceuticals sector) and BNP Paribas (Banks sector). The companies who have the smallest weight in the index performance are Bouygues(heavy construction), Alstom(industrial machinery, transportation)and Vallourec(industrial machinery).

Contrary to the american Dow Jones Industrial Average index which has no stock-weighting working, the german index DA 30 has the same than CAC 40 index. However in the DAX 30, pharmaceuticals companies (Bayer, Siemens) have major impact in the performance index.

In case of oil crisis, we can guess easily the consequences over the CAC 40 performance.

Rénald MARISSAL

Renald MARISSAL


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