STOXX has launched a new stable of 12 indices for Europe and the Eurozone. The new ex Financials and ex Banks indices exclude companies which are classified by the Industry Classification Benchmark as Financials or supersector Banks respectively.

“The STOXX ex Financials and STOXX ex Banks indices are the latest addition to our standard range of equity indices for Europe and the Eurozone,” said Hartmut Graf, chief executive officer, STOXX Limited. “The new indices offer market participants a tool to implement investment strategies that exclude exposure to financial or bank stocks, while at the same time relying on the superior and established methodology and composition of Europe’s favourite equity indices.”

The new indices are intended as a means of implementing particular investment strategies and can be used for benchmarking purposes or as underlying for passive investment products, according to the press release.