Blue Chip Index

Blue Chip Index

An index that predominately or exclusively tracks stocks in well-known and highly respected publicly-traded companies. Blue chip indices track companies that are usually financially sound and are thought to be relatively low-risk investments. These indices tend to be less volatile and are used sometimes as indicators of wider economic performance. A prominent example of a blue chip index is the Dow Jones Industrial Average.
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The FTSE 100 had a strong showing on what should have been a quiet day for the leading blue chip index.
Topix and Nikkei closed with losses of -0.67% and -0.27% respectively, the Hang Seng dropped -0.53%, but mainland China bourses managed a late rally and the CSI 300 blue chip index closed with a gain of 0.28%.
PS36bn wiped off FTSE 100 in bloodbath OVER PS36bn billion was wiped of London's blue chip index on Thursday amid a painful global sell-off as US President Donald Trump hit out at "crazy" US interest rate hikes.
The FTSE 100 was up 0.15% or 11.11 points at 7,194.75, but was dragged down by Russian mining company Evraz, which held the bottom spot on the blue chip index after falling 65.1p to 385.4p.
The blue chip index, however, stayed near a record high hit on Friday after a run aided by a fall in the pound since Britain's vote in June to exit the EU.
London's blue chip index tumbled 2.4% or 180.09 points, ending the day at 7147.5.
Direct Line Insurance Group (LON: DLG) Plc and TUI Travel Plc (LON: TT) are vying for the single spot available in the FTSE 100, the benchmark blue chip index.
"European economic data remained something of a turkey, leaving question marks over the path for the markets in the run-up to Christmas with indicators suggesting a possible year-end target of 5,600 for the UK blue chip index" said Mike Mason, senior trader at Sucden Financial Private clients.
The UK blue chip index dropped 1.2 percent on Wednesday to 5,782.70 as a string of gloomy earnings and outlooks from firms such as BG Group, Barclays and GlaxoSmithKline weighed on sentiment.
Summary: Some Au50 billion has been wiped from the value of London's blue chip index as part of a collapse in markets across the globe.
Analysts were expecting the UK blue chip index to open ahead after the Dow Jones Industrial Average closed more than nine points to the good.
The blue chip index had ended lower for the six trading days through Wednesday.