Vienna Stock Exchange offers fundamental blue chip exposure
The Vienna Stock Exchange (VSE) has launched a new fundamental version of the Austrian Traded Index (ATX), the benchmark Austrian equity index. The index uses a new method of weighting instead of the traditional market capitalisation model to take into account a wider range of indicators of a company's stability.
The ATX comprises 20 blue chip stocks traded on the VSE, with inclusion decided by capitalised free float value and stock exchange trading volumes, which are subsequently weighted according to their market capitalisation. The ATX Fundamental, by contrast, uses a factor calculated by the VSE to determine the weighting. The ratio is computed using three fundamental indicators which are return on assets, net dividend yield, and price-to-book ratios. The latter is used to compare a stock's closing
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