Istanbul bourse reveals city indices
Güncelleme Tarihi:
Anatolia News Agency
Oluşturulma Tarihi: Şubat 06, 2009 00:00
ISTANBUL - The Istanbul Stock Exchange, or IMKB, announced yesterday a decision to calculate indices for main cities.
The IMKB Board decided to launch the calculation of IMKB Adana, IMKB Ankara, IMKB Antalya, IMKB Bursa, IMKB Istanbul, IMKB İzmir, IMKB Kayseri, IMKB Kocaeli and IMKB Tekirdağ city indices, according to the announcement from the bourse presidency.
The city indices will be formed according to the ’Basic Rules for IMKB City İndices,’ the statement said. "The start date of the aforementioned city indices is Dec. 31, 2008, and the start value is 28,864.07, which is the closing value of the second session of the IMKB National 100 Index on Dec. 31."
"The closing values for the first and second sessions between Jan. 2 and Feb.13 will be calculated retrospectively in terms of price and yields; however the calculations will be in real time as of Feb.16. The calculated values for Jan. 2 Ğ Feb. 13 will be announced in the daily bulletin," according to the statement.
IMKB city indices are formed in an attempt to calculate the price and yield performance of the companies that are trading on the IMKB and that produce or operate in the same cities, the IMKB said. The companies trading on the IMKB National Market, the National Secondary Market and New Economy Market can be included within the scope of city indices.
Limitations
Banks, insurance companies, leasing companies, factoring firms, investment partnerships, real estate investment trusts, intermediaries and the companies that operate in retail trade sector are not within the scope of the indices.
"For companies operating in communications and construction, the city’s company center is considered, the statement said. "City indices are calculated for the cities that have at least five companies trading [on the bourse]. If a city that is not included in the indices increases the number of its companies to five, the city index for that city will be calculated following the 11th trading day of the fifth firm."
"If the number of the companies drops below three in a city for which index calculation is made, the calculation will be closed two months following an announcement concerning the issue."
The city indices will be formed according to the ’Basic Rules for IMKB City İndices,’ the statement said. "The start date of the aforementioned city indices is Dec. 31, 2008, and the start value is 28,864.07, which is the closing value of the second session of the IMKB National 100 Index on Dec. 31."
"The closing values for the first and second sessions between Jan. 2 and Feb.13 will be calculated retrospectively in terms of price and yields; however the calculations will be in real time as of Feb.16. The calculated values for Jan. 2 Ğ Feb. 13 will be announced in the daily bulletin," according to the statement.
IMKB city indices are formed in an attempt to calculate the price and yield performance of the companies that are trading on the IMKB and that produce or operate in the same cities, the IMKB said. The companies trading on the IMKB National Market, the National Secondary Market and New Economy Market can be included within the scope of city indices.
Limitations
Banks, insurance companies, leasing companies, factoring firms, investment partnerships, real estate investment trusts, intermediaries and the companies that operate in retail trade sector are not within the scope of the indices.
"For companies operating in communications and construction, the city’s company center is considered, the statement said. "City indices are calculated for the cities that have at least five companies trading [on the bourse]. If a city that is not included in the indices increases the number of its companies to five, the city index for that city will be calculated following the 11th trading day of the fifth firm."
"If the number of the companies drops below three in a city for which index calculation is made, the calculation will be closed two months following an announcement concerning the issue."