US-EU Index Rebalances / Quantitative Researcher, ORTEX

Dimitris Ioannidis

US-EU Index Rebalances / Quantitative Researcher

Global Financial Data and Analytics Platform

ORTEX

ORTEX is a global financial data and analytics platform providing real-time securities lending and short interest data, index rebalance data, holdings and insider transactions, trading signals, corporate actions and news,  stock machine learning and factor scores and other analytics. The majority of the data are downloadable and accessible through APIs.

Event-Driven

Laopu Gold Co., Ltd. produces and sells jewelry products. The Company produces pendants, bracelets, bracelets, collectibles, ornaments, and other products. Laopu Gold also operates import and export businesses.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/laopu-gold-co-ltd" target="_blank" data-smartkarma-citation="entities:44036:1" rel="noopener">Laopu Gold (6181 HK)</a> is expected to fail the fcap threshold at the December 2024 review due to low free float unless its price surges ~22% in the next week.</li>
<li>The 6-month lock-up expiry will lift the fcap closely above the threshold significantly increasing the probability of inclusion at the March 2025 review.</li>
<li>If the mcap qualifies for the small-cap segment, its inclusion is possible at the November 2024 review due to lower fcap requirements. </li>
</ul>



Laopu Gold (6181 HK) is expected to fail the fcap threshold at the December 2024 review due to low free float unless its price surges ~22% in the next week.
The 6-month lock-up expiry will lift the fcap closely above the threshold significantly increasing the probability of inclusion at the March 2025 review.
If the mcap qualifies for the small-cap segment, its inclusion is possible at the November 2024 review due to lower fcap requirements. 


Laopu Gold (6181 HK): IPO Lock-Up Expiry Might Prove Golden for Global Index Inclusion

Index Rebalance

AppLovin Corporation provides software solutions. The Company offers an end-to-end software that optimizes monetization, and uses machine learning to make data-driven marketing decisions for profitable growth. AppLovin serves clients worldwide.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/applovin-corp" target="_blank" data-smartkarma-citation="entities:32989:1" rel="noopener">AppLovin (APP US)</a> is forecasted to replace <a href="https://www.smartkarma.com/entities/discover-financial-services" target="_blank" data-smartkarma-citation="entities:11966:1" rel="noopener">Discover Financial Services (DFS US)</a> in S&amp;P500 on 19 May following <a href="https://www.smartkarma.com/entities/capital-one-financial-corp" target="_blank" data-smartkarma-citation="entities:255:1" rel="noopener">Capital One's</a> approved acquisition.</li>
<li>
<a href="https://www.smartkarma.com/entities/crh-plc-054117b2-cd70-470a-9efc-8f6fab2c83ec" target="_blank" data-smartkarma-citation="entities:28655:1" rel="noopener">CRH (CRH US)</a> and <a href="https://www.smartkarma.com/entities/coinbase-global-inc" target="_blank" data-smartkarma-citation="entities:32227:1" rel="noopener">Coinbase Global (COIN US)</a> are forecasted to be added by June-July following the expected acquisitions of <a href="https://www.smartkarma.com/entities/kellogg-co" target="_blank" data-smartkarma-citation="entities:16090:1" rel="noopener">Kellogg Co (K US)</a> and <a href="https://www.smartkarma.com/entities/ansys-inc" target="_blank" data-smartkarma-citation="entities:15473:1" rel="noopener">Ansys Inc (ANSS US)</a>. </li>
<li>Zero changes are forecasted for S&amp;P500 at the June 2025 review due to limited strong addition candidates which will be selected as replacements of upcoming acquisitions.</li>
</ul>



AppLovin (APP US) is forecasted to replace Discover Financial Services (DFS US) in S&amp;P500 on 19 May following Capital One's approved acquisition.

CRH (CRH US) and Coinbase Global (COIN US) are forecasted to be added by June-July following the expected acquisitions of Kellogg Co (K US) and Ansys Inc (ANSS US). 
Zero changes are forecasted for S&amp;P500 at the June 2025 review due to limited strong addition candidates which will be selected as replacements of upcoming acquisitions.


S&P500: Additions In May & June 2025 Following Capital One's Approved Acquisition

Ryanair Holdings plc provides low fare passenger airline services to destinations in Europe.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ryanair-holdings-plc" target="_blank" data-smartkarma-citation="entities:22127:1" rel="noopener">Ryanair Holdings (RYA ID)</a> raised its foreign ownership limit (FOL) from 50% to 80% on 7 March 2025, due to increasing EU national holdings over the last years.</li>
<li>The security is forecasted to be added to global standard in May and global all-world in September 2025 as it now has eligible foreign room after the FOL increase.</li>
<li>The security's free float is expected to rise from 50% to 80% in stoxx europe 600 and euro stoxx at the June 2025 review.</li>
</ul>



Ryanair Holdings (RYA ID) raised its foreign ownership limit (FOL) from 50% to 80% on 7 March 2025, due to increasing EU national holdings over the last years.
The security is forecasted to be added to global standard in May and global all-world in September 2025 as it now has eligible foreign room after the FOL increase.
The security's free float is expected to rise from 50% to 80% in stoxx europe 600 and euro stoxx at the June 2025 review.


Ryanair (RYA ID): Global Index Inclusion & EU Upweight Following Raised Foreign Ownership Limit

Glencore Plc is a diversified natural resources company. The Company operates in three groups: Metals and Minerals, Energy Products, and Agricultural Products. Glencore Plc offers its products and services around the world.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/glencore-plc" target="_blank" data-smartkarma-citation="entities:764:1" rel="noopener">Glencore Plc (GLEN LN)</a> currently ranks 77 in STOXX Europe50. If it ranks 75 or worse on 30 April, the security will be deleted via Fast-Exit on 7 May.</li>
<li>
<a href="https://www.smartkarma.com/entities/rolls-royce-holdings-plc" target="_blank" data-smartkarma-citation="entities:22121:1" rel="noopener">Rolls-Royce Holdings (RR/ LN)</a> is forecasted to be the replacement to the Fast-Exit deletion.</li>
<li>Main forecasted addition and deletion candidates at the September 2025 annual review include <a href="https://www.smartkarma.com/entities/banco-bilbao-vizcaya-argentari" target="_blank" data-smartkarma-citation="entities:21251:1" rel="noopener">Banco Bilbao Vizcaya Argentaria (BBVA SM)</a> and <a href="https://www.smartkarma.com/entities/mercedes-benz-group-ag" target="_blank" data-smartkarma-citation="entities:21602:1" rel="noopener">Mercedes-Benz Group (MBG GR)</a>, respectively. </li>
</ul>



Glencore Plc (GLEN LN) currently ranks 77 in STOXX Europe50. If it ranks 75 or worse on 30 April, the security will be deleted via Fast-Exit on 7 May.

Rolls-Royce Holdings (RR/ LN) is forecasted to be the replacement to the Fast-Exit deletion.
Main forecasted addition and deletion candidates at the September 2025 annual review include Banco Bilbao Vizcaya Argentaria (BBVA SM) and Mercedes-Benz Group (MBG GR), respectively. 


Glencore (GLEN): Fast-Exit from STOXX Europe50 In May 2025

Swiggy Limited operates an online easy-to-use food ordering application. The Company offers platform that allows users to browse, select, order, and pay for food, grocery, and household items delivered to their doorstep through on-demand delivery partner network. Swiggy serves customers in India.

<ul>
<li>The anchor lock-up expired on 13 Feb 2025 and the pre-IPO shareholder lock-up expires on 13 May 2025. The free float is forecasted to increase from ~13% to ~40%.</li>
<li>
<a href="https://www.smartkarma.com/entities/swiggy-limited" target="_blank" data-smartkarma-citation="entities:35630:1" rel="noopener">Swiggy (SWIGGY IN)</a> is expected to be added to global all-world at the June 2025 review following its IPO in November 2024 and the lock-up expiries.</li>
<li>
<a href="https://www.smartkarma.com/entities/swiggy-limited" target="_blank" data-smartkarma-citation="entities:35630:1" rel="noopener">Swiggy (SWIGGY IN)</a> is expected to be added to global standard in May 2025 if top-down approach is used for free float. Otherwise, its addition will take place in August.</li>
</ul>


The anchor lock-up expired on 13 Feb 2025 and the pre-IPO shareholder lock-up expires on 13 May 2025. The free float is forecasted to increase from ~13% to ~40%.

Swiggy (SWIGGY IN) is expected to be added to global all-world at the June 2025 review following its IPO in November 2024 and the lock-up expiries.

Swiggy (SWIGGY IN) is expected to be added to global standard in May 2025 if top-down approach is used for free float. Otherwise, its addition will take place in August.


Swiggy (SWIGGY IN): Post-IPO Global Index Inclusion & Final Lockup Expires In May 2025

ORTEX
Global Financial Data and Analytics Platform

Laopu Gold (6181 HK): IPO Lock-Up Expiry Might Prove Golden for Global Index Inclusion

Potentially failed fcap threshold in March 2025 due to not unlocking cornerstones or treating them as strategic. Following the share conversion on...

Dimitris Ioannidis

S&P500: Additions In May & June 2025 Following Capital One's Approved Acquisition

APP, CRH and COIN are forecasted to be added by July 2025 to S&P500 following upcoming acquisitions with Capital One's closing first on 19 May. No...

Dimitris Ioannidis

Ryanair (RYA ID): Global Index Inclusion & EU Upweight Following Raised Foreign Ownership Limit

Ryanair's FOL increased from 50% to 80% on 7 March 2025, resulting in eligible foreign room and a forecasted inclusion in global indices for May...

Dimitris Ioannidis

Glencore (GLEN): Fast-Exit from STOXX Europe50 In May 2025

Glencore ranks 77 in STOXX Europe50 and will undergo Fast-Exit on 7 May if it ranks 75 or worse on 30 April. Rolls-Royce is forecasted as the...

Dimitris Ioannidis

Swiggy (SWIGGY IN): Post-IPO Global Index Inclusion & Final Lockup Expires In May 2025

Swiggy's IPO lock-up expiries in 2025 are expected to increase its free float and lead to its addition to global indices in May and June.

Dimitris Ioannidis

Laopu Gold (6181 HK): IPO Lock-Up Expiry Might Prove Golden for Global Index Inclusion

Potentially failed fcap threshold in March 2025 due to not unlocking cornerstones or treating them as strategic. Following the share conversion on...

Dimitris Ioannidis

S&P500: Additions In May & June 2025 Following Capital One's Approved Acquisition

APP, CRH and COIN are forecasted to be added by July 2025 to S&P500 following upcoming acquisitions with Capital One's closing first on 19 May. No...

Dimitris Ioannidis

Ryanair (RYA ID): Global Index Inclusion & EU Upweight Following Raised Foreign Ownership Limit

Ryanair's FOL increased from 50% to 80% on 7 March 2025, resulting in eligible foreign room and a forecasted inclusion in global indices for May...

Dimitris Ioannidis

Glencore (GLEN): Fast-Exit from STOXX Europe50 In May 2025

​Glencore ranks 77 in STOXX Europe50 and will undergo Fast-Exit on 7 May if it ranks 75 or worse on 30 April. Rolls-Royce is forecasted as the...

Dimitris Ioannidis

Swiggy (SWIGGY IN): Post-IPO Global Index Inclusion & Final Lockup Expires In May 2025

​Swiggy's IPO lock-up expiries in 2025 are expected to increase its free float and lead to its addition to global indices in May and June.

Dimitris Ioannidis

Glencore ranks 77 in STOXX Europe50 and will undergo Fast-Exit on 7 May if it ranks 75 or worse on 30 April. Rolls-Royce is forecasted as the...

Swiggy's IPO lock-up expiries in 2025 are expected to increase its free float and lead to its addition to global indices in May and June.