LONDON, June 7, 2012 (GLOBE NEWSWIRE) -- Dow Jones Indexes, a leading global index provider, today announced the results of the regular annual review of the Dow Jones Islamic Market Titans 100 Index and its three subindexes, Dow Jones Islamic Market U.S. Titans 50 Index, Dow Jones Islamic Market Asia/Pacific Titans 25 Index and Dow Jones Islamic Market Europe Titans 25 Index as well as the Dow Jones Islamic Market Malaysia Titans 25 Index. All changes will be effective after the close of trading on Friday, June 15, 2012.
In the Dow Jones Islamic Market Titans 100 Index and subindex Dow Jones Islamic Market U.S. Titans 50 Index, Baker Hughes Inc., Corning Inc. and Marathon Oil Corp. will be replaced by eBay Inc., Express Scripts Holding Co. and Nike Inc. Cl B.
In the Dow Jones Islamic Market Titans 100 Index and subindex Dow Jones Islamic Market Asia/Pacific Titans 25 Index, FUJIFILM Holdings Corp. (Japan) and Hon Hai Precision Industry Co. Ltd. (Taiwan) will be replaced by Kia Motors Corp. (South Korea) and Sun Hung Kai Properties Ltd. (Hong Kong).
In the Dow Jones Islamic Market Titans 100 Index and subindex Dow Jones Islamic Market Europe Titans 25 Index, Koninklijke Philips Electronics N.V. (The Netherlands) and Nokia Corp. (Finland) will be replaced by BASF SE (Germany)and Bayer AG (Germany).
The free-float market capitalization of the reconstituted Dow Jones Islamic Market Titans 100 Index increased to US$6.53 trillion from US$6.45 trillion.
In the Dow Jones Islamic Market Malaysia Titans 25 Index, KNM Group Bhd, MISC Bhd and Star Publications (Malaysia) Bhd will be replaced by JCY International Bhd, KPJ Healthcare Bhd and United Plantations Bhd.
The free-float market capitalization of the reconstituted Dow Jones Islamic Market Malaysia Titans 25 Index decreased to US$48.67 billion from US$50.01 billion.
All market capitalization values of all indexes cited in this report are as of June 4, 2012.
The Dow Jones Islamic Market Indexes were introduced in 1999 as the first indexes intended to measure the global universe of investable equities that pass screens for Shari'ah compliance. With more than 100 indexes, the series is the most comprehensive family of Islamic market measures and includes regional, country, and industry indexes, all of which are subsets of the Dow Jones Islamic Market Index.
An independent Shari'ah Supervisory Board counsels Dow Jones Indexes on matters related to the compliance of index-eligible companies. To determine their eligibility for the Dow Jones Islamic Market Indexes, stocks are screened based on their industry type and their financial ratios. Excluded are companies engaged in the following lines of business: alcohol, tobacco, pork-related products, financial services, defense/weapons and entertainment. Also excluded are companies for which the following financial ratios are 33% or more: debt divided by trailing 24-month average market capitalization; cash plus interest-bearing securities divided by trailing 24-month average market capitalization; and accounts receivables divided by trailing 24-month average market capitalization.
There are currently more than 100 licensees with more than US$5 billion in assets benchmarked to the Dow Jones Islamic Market Indexes.
More information on the Dow Jones Islamic Market Indexes is available on www.djindexes.com/islamicmarket.
Company additions to and deletions from the Dow Jones Islamic Market Indexes do not in any way reflect an opinion on the investment merits of the company.
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About Dow Jones Indexes
Dow Jones Indexes (www.djindexes.com) is a leading full-service index provider that develops, maintains and licenses indexes for use as benchmarks and as the basis of investment products. Best-known for the Dow Jones Industrial Average, Dow Jones Indexes offers more than 130,000 equity indexes as well as fixed-income and alternative indexes, including measures of hedge funds, commodities and real estate. Dow Jones Indexes employs clear, unbiased and systematic methodologies that are fully integrated within index families. Dow Jones Indexes is the marketing name for CME Group Index Services LLC, a joint venture company which is owned 90 percent by CME Group Inc. (www.cmegroup.com) and 10 percent by Dow Jones & Company, Inc. (www.dowjones.com), a News Corporation company (Nasdaq:NWS) (Nasdaq:NWSA) (ASX:NWS) (ASX:NWSLV) (www.newscorp.com).
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"Dow Jones®", "Dow Jones Indexes", "Dow Jones Islamic Market Indexes" and all other index names listed above are service marks of Dow Jones Trademark Holdings LLC ("Dow Jones"), and have been licensed for use by CME Group Index Services LLC ("CME Indexes"). Investment products based on the Dow Jones Islamic Market Indexes are not sponsored, endorsed, sold or promoted by Dow Jones, CME Indexes or their respective affiliates and none of Dow Jones, CME Indexes and their respective affiliates make any representation regarding the advisability of investing in such products. Inclusion of a company in any of the Dow Jones Islamic Market Indexes does not in any way reflect an opinion of Dow Jones, CME Indexes or any of their respective affiliates on the investment merits of such company. None of Dow Jones, CME Indexes or any of their respective affiliates is providing investment advice in connection with these indexes.