Solactive launches Solactive Spain 40 index
Solactive announced the launch of the Solactive Spain 40 index, a new benchmark tracking the performance of the forty largest and most liquid companies listed in Spain. The index is used as the underlying index for the db xtrackers Spanish Equity Ucits ETF (DR), formerly db x-trackers IBEX 35® Ucits ETF (DR), switching today from the IBEX 35 Index to the Solactive Spain 40 index. With this new launch, Solactive expands its range of competitively-priced benchmarks and offers for the first time in its history a broad-market index providing targeted exposure to a Southern European economy.
Specifically, the Solactive Spain 40 index is a free-float market capitalization weighted index covering approximately 63% of the Spanish equity market*. The three most represented sectors are Finance, Technology and Utilities, with a composite weight of 66% of the total index*. The five largest positions by marketvalue weight are Banco Santander, Banco Bilbao Vizcaya Argentaria, Telefonica, Iberdrola and Inditex.
Steffen Scheuble, CEO, Solactive AG, commented: “Solactive has been very active in the benchmark space since it first entered it two years ago. Following increased customer demand, we have continued expanding our suite of cost-efficient broadbased indices. The Solactive Spain 40 index joins the portfolio of Solactive-branded benchmarks with regional and country exposure which at the moment cover Canada, Germany, Europe, Scandinavia, Switzerland and the US, among others.”