Dow Jones Indexes has launched the Dow Jones Global Titans Index, a 50-stock benchmark of the world's largest multinational companies. The companies involved are becoming increasingly global, with an average 40% of revenues coming from outside their "home" markets.

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Dow Jones Global Titans Index

Professional investors appreciate the super liquidity of these stocks, which can be traded in volume without affecting the market. Also, the global operations of these companies may cushion sales and profits from country-specific economic fluctuations. John Nuveen & Co. Inc. and Nike Securities L.P. will launch products based on the index in the third quarter, according to Dow Jones Indexes, and several other companies have expressed interest.

"Global Titans are companies that will dominate the world's economy well into the 21st century," said Michael A. Petronella, managing director of Dow Jones Indexes. "With no national borders to define their territories, they defy traditional asset categories. Investment professionals now have a way to measure and track them."

The new indexes' components read like a "Who's Who" of multinationals, including British Petroleum, Citigroup, Coca-Cola, DaimlerChrysler, Exxon, General Electric, Toyota, Microsoft, Merck, Siemens, Unilever and Novartis. The index will be published daily in The Wall Street Journal. (see list below)

Dow Jones Global Titans Index Components (by market cap)

• Microsoft Corp.
• General Electric
• International Business Machines
• Wal-Mart Stores
• Exxon
• Royal Dutch Petroleum
• AT&T
• BP Amoco
• Coca-Cola
• Intel
• Merck
• MCI WorldCom
• Citigroup
• American International Group
• Procter & Gamble
• Johnson & Johnson
• British Telecommunications
• Deutsche Telekom
• Bank of America
• Novartis
• Toyota Motor
• SBC Communications
• Philip Morris
• HSBC Holdings
• Hewlett-Packard
• BellSouth
• DaimlerChrysler
• Bell Atlantic
• France Telecom
• Mobil
• DuPont
• Roche Holding
• Lloyds TSB
• Nestle
• Ford Motor
• Allianz
• UBS Group
• Unilever
• Bank of Tokyo-Mitsubishi
• Chase Manhattan
• Walt Disney
• Chevron
• Morgan Stanley Dean Witter
• ING
• ENI
• Credit Suisse Group
• General Motors
• AXA
• Boeing
• Siemens

 

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