Stock exchange barometer marks 20th birthday
The Swiss Market Index (SMI), Switzerland's leading barometer of blue-chip company performance, celebrated its 20th anniversary on Monday.
The SMI was launched on June 30, 1988, by the Zurich stock exchange, listing 24 of the most liquid firms – featuring heavyweights from the banking, insurance, pharmaceutical, watchmaking, manufacturing and other industries.
These companies represent around 84 per cent of the entire market capitalisation of all Swiss and Liechtenstein equities listed on the Swiss stock exchange (SWX).
The barometer started at an initial level of 1,500 points, broke through the 9,000 point barrier for the first time at the beginning of last year and has recently been poised at around the 7,000 mark.
The SMI was trimmed down to 20 companies last year at the same time as the Swiss Leader Index was launched, listing 20 large and ten mid-sized firms.
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