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FTSE 100 Index at 30

A newspaper article mentioned that the FTSE 100 index recently celebrated its 30th birthday (Stevenson, 2014).

It is relatively easy to produce a graph of the FTSE 100 over the last 30 years, but more difficult to identify how the constituents have changed over the years.

The screenshot below is from Thomson Reuters Datastream (2014)  and Datastream also includes FTSE 100 constituent lists from January 1996. (See Historical Index constituents (e.g. FTSE 100) posted June 2011) It is easy to do a similar graph with Bloomberg but it only records the constituents from 2 January 2001.

FTSE 100 (PI - Price Index)  (click to enlarge)

FTSE 100 (PI – Price Index) (click to enlarge)

Rebecca Clancy (2014) identifies 30 current FTSE 100 companies that were there at the start and 19 of these have always been included in the index. A Financial Times article from February 14 1984 suggests that the new FTSE 100 index did not immediately replace the existing FT 30. It also records the first index change. “The only change so far has been the removal of Eagle Star on its takeover by BAT Industries, and its replacement by the next on the list, which happened to be Charterhouse J Rothschild.”  (Riley, 1984).

I have a file FTSE 100 original constituents that is consistent with the FT article (Riley, 1984) including Eagle Star and BAT Industries but not Charterhouse J Rothschild. Unfortunately I have no record of the provenance of this file, but I think it was related to the University of Manchester Library involvement in the SCoRe annual reports –  SCoRe (search company reports) website closing (posted March 2013)

References

Clancy, R. (2014) “FTSE 100 celebrates 30th birthday”, The Telegraph, 2 January [Online]. Available at:  http://www.telegraph.co.uk/finance/markets/ftse100/10544527/FTSE-100-celebrates-30th-birthday.html  (Accessed: 7 January 2014).

Datastream. (2014) Thomson Reuters Datastream. [Online]. Available at: Subscription Service (Accessed: January 2014)

Riley, B. (1984) “Financial Times-Stock Exchange 100 Index Goes Live”, Financial Times, 14 February 1984, p. 8, Edition 29,246. Available at: Financial Times Historical Archive 1888 – 2009 (Gale Group) Gale Document Number:HS2304487684  (Accessed: 6 January 2014).

Stevenson, T. (2014) “Why I can’t stop watching the Footsie”, The Telegraph, 4 January [Online]. Available at:  http://www.telegraph.co.uk/finance/personalfinance/investing/shares/10549939/A-memorial-to-our-industrial-past-rather-thank-UK-plc-today.html (Accessed: 7 January 2014).

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  1. 25 January 2014 at 5:19 pm

    It’s easy to forget that the FTSE 100 is so relatively new. And of course with all the mergers that happened in the 80’s, 90’s and early 2000’s many of the original companies have vanished. It still remains a useful barometer however so long may it continue.

    • markgreenwood
      26 January 2014 at 5:08 pm

      Yes – since its start in January 1984 over 60% of the original companies are no longer in the FTSE 100 – see (Clancy, 2014) above. There is a list online that gives the changes to December 2008 – FTSE 100 Constituent Changes.

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