FT.com announced today that it is giving the FT30 share index a makeover. FT30 Index is the oldest of the indices and was set up to track the top 30 companies in 1935.
The FT30 was the brainchild of Maurice Green and Richard Clarke who worked for the Financial News in the 1930’s. Having just 30 stocks on the index make it much more sensitive the fluctuations in share prices. It was set up specifically to help monitor the market in a time of uncertainty. Sounds familiar doesn’t it?
The FT30 was replaced by the FTSE100 in 1984 (actually replaced by FT Actuaries in 1962, which itself was replaced by the FTSE100).
No Telecoms, Media or Tech Stocks
As the FT30 does not have an telecom, media or technology stocks it had underperformed compared to the FTSE100 for many years. However, since 2009 the FT30 has actually been performing better due to the increased value in the commodities markets and the falling favour of the media and technology sectors.
Companies listed in the FT30 remain more or less unchanged. Companies only leave the index when they are delisted from the stock exchange. Tate & Lyle and GKN have both been members of the FT30 since it was created in 1935.
FT30 Index Today
Here are the companies currently in the FT30 index.
- 3i Group
- BAE Systems
- British American Tobacco
- BT Group
- International Consolidated Airlines Group
- Land Securities
- Lloyds Banking Group
- Man Group
- Marks & Spencer
- National Grid
- Reckitt Benckiser
- Royal Bank of Scotland
- Smiths Group
- Tate & Lyle