EUROPE – New York based global index provider Dow Jones Indexes is to add seven new European indexes to its country titans family from April 12, covering France, Germany, Italy, Netherlands, Spain, Sweden and Switzerland.

Dow Jones says the new indexes are being launched in response to the growth in the exchange traded fund (ETF) business, which is worth some €6.8bn in Europe. Dow Jones expects to see new ETFs launched on some of the new indexes later this year.

The new country titans will be composed of 30 of the corresponding country’s largest and most liquid stocks. The indexes will represent between 48% and 68% of their respective market capitalisation and Dow Jones has set a weightings cap of 10% to prevent any individual stock from dominating its index.

Says Michael Petronella, managing director of Dow Jones Indexes: “by adding seven indexes to the existing country titans family we complement our blue-chip series of indexes which allows investors to allocate assets and switch easily from countries to regions and to global products.”

The new indexes complement Dow Jones existing country titans for Australia, Canada, Hong Kong, Japan and the UK.