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16 September, 2019 -
French luxury conglomerate, Kering, announced it has joined the Euro STOXX 50 index, one of the major indexes of listed shares of the euro area.
The Euro STOXX 50 comprises the 50 largest listed stocks in the eurozone, in terms of free-float market capitalisation. So far, Kering shares have been listed on the Euronext Paris since 1988 and have been part of the CAC 40 index since 1995.
“This symbolic step illustrates our increasing value creation and the relevance of our development model. It demonstrates the confidence of the market in our ability to achieve profitable, sustained and consistent organic growth”, said François-Henri Pinault, Chairman and CEO, Kering.
The STOXX Europe 50 Index is licensed to financial institutions to serve as underlying for a wide range of investment products such as Exchange Traded Funds (ETFs), Futures and Options, and structured products worldwide. STOXX indices are licensed to more than 500 companies, including the world’s largest financial products issuers, capital owners and asset managers. Its offering ranges from equity to fixed-income, strategy to sustainability, and multi-factor to thematic indices.