MibSTAR, STAR and techSTAR indices

Borsa Italiana has decided to rationalise indices dedicated to companies listed on the STAR segment.

Starting from Monday 18th June 2007, the MibSTAR, STAR and TechSTAR indices and their correspondent total return and VWAP (volume weighted average price) versions will no longer be calculated.

The trends of STAR segment stocks will be represented by the All STAR index, which is the benchmark index of high-quality Italian small and medium-sized companies.  The All STAR index was introduced on 31st January 2005 with a series history going back to January 2001.

The All STAR index will be calculated on the basis of the following methodology:

- composition: all stocks belonging to the STAR segment
- frequency of calculation and communication: every minute
- weighting: based on the float (calculated net of investments, both direct as well as by syndicated agreements, greater than 5%)
- cap on the major shares: the weight of each share upon changes to the weighting structure cannot exceed 10%
- changes to the basket: on the basis of entries/exits to and from the STAR segment
- changes to the number of floating shares: 4 times a year, at the end of every quarter
- base: 28.12.2001 = 10,000

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