BBVA, Societe Generale Move out of Europe's Leading Blue-Chip Index

   By Giulia Petroni

European banks Banco Bilbao Vizcaya Argentaria SA and Societe Generale SA will lose their spots on the blue-chip index EURO STOXX 50 this month, according to global index provider Stoxx Ltd.

The change will be effective at opening on Sept. 21, when telecommunication company Orange, along with Telefonica SA and Fresenius SE & Co. KGaA will also be removed from the index.

Replacing them will be internet investor Prosus NV and spirit maker Pernod Ricard SA, along with payment company Adyen NV, real-estate company Vonovia SE and engineering-and-service company Kone Oyj.

The EURO STOXX 50 is composed of fifty listed companies in the Eurozone and is considered the most important performance indicator of the European stock market.

Stoxx Ltd. reviews the composition of its indeces deciding which companies meet the requirements to be part of them based on their free-float market capitalization.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

September 02, 2020 06:36 ET (10:36 GMT)

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