Euro TV conglomerate added to Russell Index
Station group Central European Media Enterprises, which owns TV stations across various Eastern Euro territories, said Tuesday it will now be included in the broad-market Russell 3000 Index, the large-cap stocks Russell 1000 Index and the Russell Global Index.The inclusion follows the Russell Investment Group’s annual reconstitution of its comprehensive set of U.S. and global equity indexes on Monday. The Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. An industry-leading $4 trillion in assets are currently benchmarked to them. “CME’s inclusion in the Russell 3000, Russell 1000 and Russell Global indexes are three more indicators of the significant growth the company has enjoyed over the past three years,” CME chief executive officer Michael Garin said. Russell’s reconstitution of U.S. indexes captures the 3,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization. The largest 1,000 companies in this ranking comprise the Russell 1000 and the next 2,000 companies become the Russell 2000. These reconstitutions allow the indexes to provide a truer reflection of stock market activity and performance. The Russell 3000 also serves as the U.S. component to the Russell Global Index, which offers comprehensive coverage of the investable global market and includes some 10,700 stocks from 63 countries. CME operates TV stations in six Central and Eastern European countries with an aggregate population of 90 million people. The company’s stock is traded on the Nasdaq and the Prague Stock Exchange under the ticker symbol CETV.