The Luxembourg Stock Exchange (French: Bourse de Luxembourg) is a stock exchange based in Luxembourg City, in southern Luxembourg. The Exchange is located on avenue de la Porte-Neuve, which connects Boulevard Royal to Boulevard Robert Schuman (N51). The Chairman of the Board is Raymond Kirsch and the President of the Executive Committee and Chief Executive Officer is Michel Maquil.
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Bonds
It specialises primarily in the issue of international bonds, in which it is ranked first in Europe, with over 26,000 securities listed on the Exchange as of 2005.[1] The Luxembourg Stock Exchange was the first exchange to list a Eurobond, with the issue of Italian Autostrade bonds in 1963,[1] and, to this day, Luxembourg has maintained a dominant position in European bond issues, with approximately 60% of all cross-border securities in Europe being listed in Luxembourg.[1] Fifty countries list at least some of their sovereign debt in Luxembourg, whilst Luxembourg is also a market for debt from the EBRD, European Commission, European Investment Bank, and World Bank.[1]
Equities
Luxembourg Stock Exchange's main equity index is called the LuxX Index, which is a weighted index of the ten most valuable listed stocks by free floated market capitalisation.[2] The index was fixed at 1,000 on 4 January 1999: the first day of trading after Luxembourg adopted the Euro.[2] The ten companies currently included in the listing are:
| Company | Industry | Country | Weighting[3] |
|---|---|---|---|
| Arcelor Mittal | Steel |  LUX |
19.31% |
| BIP Investment Partners | Investment | LUX |
1.75% |
| Cegedel | Electricity | LUX |
1.06% |
| Dexia | Banking |  BEL |
13.01% |
| Fortis | Banking | BEL |
19.10% |
| Foyer | Insurance | LUX |
0.59% |
| KBC Group | Banking | BEL |
14.86% |
| Luxempart | Investment | LUX |
2.10% |
| RTL Group | Media | LUX |
7.00% |
| SES | Telecommunications | LUX |
21.22% |
| Source: Luxembourg Stock Exchange | |||
History
A law establishing a stock exchange in Luxembourg was passed on 30 January 1927.[4] The company was incorporated as the Société Anonyme de la Bourse de Luxembourg on 5 April 1928,[5] with an initial issue of 7,000 shares, each valued at 1000 francs.[6] In November 2000, it entered into an agreement with Euronext.
Footnotes
- ^ a b c d Luxembourg Stock Exchange (PDF). PricewaterhouseCoopers. Retrieved on 2007-08-18.
- ^ a b Luxembourg LuxX Index. Bloomberg. Retrieved on 2007-08-19.
- ^ As of 19 August 2007
- ^ (French)/(German) Mémorial A, 1928, No. 1 (PDF). Service central de législation. Retrieved on 2007-08-18.
- ^ History. Luxembourg Stock Exchange. Retrieved on 2007-08-18.
- ^ (French)/(German) Mémorial A, 1928, No. 23 (PDF). Service central de législation. Retrieved on 2007-08-18.
