Shares of Juventus to be added to stock exchange's benchmark
Juventus are challenging for an eighth consecutive Serie A title. The Italian club are eight points above Napoli, at the moment, after 14 matches. With Cristiano Ronaldo in sparkling form, the Serie A giants are making rapid strides. And now reports claim that the club will be included in the benchmark FTSE-Mib stock index. It was confirmed by Milan-based stock exchange.
What is FTSE-Mib index?
The FTSE-Mib is the index, that consists of the most traded stock classes in Italy's only stock exchange- the Borsa Italiana. There were reported rumors about the move and that pushed the share price of Juventus up by around 10% on Wednesday this week. The bourse announcement was made later in the evening.
How have Juventus shares been performing?
Ronaldo has played a huge part in seeing the share price of Juventus jump higher. The club was first listed in 2001 and it wasn't highly traded until the arrival of the former Real Madrid superstar in summer of 2018. The club's shares were around €0.64 mid-year, before it escalated as high as 1.80 in September and then diminished.
Juve gain market capitalization
On Wednesday, the stock was quoted at around €1.2. This, in turn, meant the European giants have a market capitalization of around €1.1 billion ($1.25 billion). The Milan Stock Exchange said that the stock will be included in the index from December 27. The FTSE-Mib benchmark index consists of 40 top shares.
Why did Juve acquire CR7?
Ronaldo won a host of trophies with Real which included four Champions League titles besides two league honors. He also won four FIFA Club World Cups and the same number of UEFA Super Cup trophies. The player had joined Real from Manchester United in 2009 in a £80 million deal. He scored 451 goals and is Real's record goal-scorer.
