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Bloomberg Establishes Four New European Indices.

NEW YORK, July 10 /PRNewswire/ --

Bloomberg announced today that it has introduced four new indices to its Bloomberg European Investable Indices group. Each new index represents a different market sector: cyclical, staples, industrials and resource, respectively. The new indices were created for market participants to use as benchmarks for derivatives, exchange traded funds and other financial instruments.

"We have developed these indices as a result of client demand and the success of our Bloomberg 500 Index and Pan European Mid Cap Index. Our plan is to continue developing indices that our customers can use to develop benchmarks," said Tom Secunda, head of global sales.

The Bloomberg European Investable Cyclical Index (BEICYCLE) is a modified equal weighted index which tracks large European consumer cyclicals. The Bloomberg European Investable Industrials Index (BEIINDUE) is a modified equal weighted index which tracks large industrial stocks. The Bloomberg European Investable Staples Index (BEISTPLE) is a modified equal weighted index which tracks large staple stocks. The Bloomberg European Investable Resource Index (BEIRSRCE) is a modified equal weighted index which tracks large resource stocks. For a listing type BEII <Go> on the BLOOMBERG Professional(R) service.

Each of the indices is available in both Euros and Sterling and is rebalanced every six months. Limiting each of the new indices to the most liquid securities in their respective sectors means that each is a practical base for index-based securities and financial products. In addition to this, due to lower trading costs, the high liquidity securities with their narrow bid/ask spreads- add to the cost efficiency of the indices.

About Bloomberg

Bloomberg L.P. is a global, multi-media based distributor of information services, combining news, data and analysis for financial markets and businesses. Bloomberg provides real-time pricing, historical pricing, indicative data, analytics and electronic communications 24 hours a day through 159,000 BLOOMBERG Professional(R) systems used by over 200,000 financial professionals in 120 countries. Bloomberg media includes television, radio, publishing and Internet operations worldwide.

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Publication:PR Newswire
Geographic Code:1USA
Date:Jul 10, 2001
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