What does it mean when someone says "FTSE closed at xxx today"
When someone says "The FTSE closed at 402 today," what does this actually mean? Is it the company who had the best stock price increase or a sum of all the companies or something else?
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FTSE is an index catering to the London stock exchange. It is a Capitalization-Weighted Index of 100 companies listed on the London Stock Exchange with the highest market capitalization . When somebody says FTSE closed at 6440, it basically means at the end of the day, the index calculated using the day end market capitalization of the companies, included in the index, is 6440.
It's sort of the sum of stock prices, but bigger companies are weighed more heavily.
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