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STRONG STOCK PERFORMANCE
SAP performed well on
the world’s stock markets in 2003. The share price climbed 76%
over the year, outperforming both Germany’s DAX blue-chip
index and the Goldman Sachs Software Index, which rose 37%
and 50% respectively in the same period. Starting the year at
€74.90 in Frankfurt, SAP stock initially dipped to a yearly low of
€67.65 by mid-March. From that point, it made steady progress,
peaking at €134 in early November to end the year on €133.15.
In the United States, foreign companies’
American Depositary Receipts (ADRs) are traded instead of
shares. Four SAP ADRs represent one SAP share. The SAP ADR
rose 105% on the New York Stock Exchange (NYSE) in 2003,
closing at US$41.56.
MOST-TRADED GERMAN STOCK ON NYSE
SAP’s market
capitalization reached €42.0 billion at the end of 2003, an
increase of €18.2 billion since the end of 2002. The average
number of SAP shares traded per day in 2003 was 1.88 million.
The average number of ADRs to change hands per day was
1.97 million, making SAP the most heavily traded German
stock on the NYSE.
STOXX 50 COMPONENT
Effective September 2003, SAP shares
became a component of the Dow Jones STOXX 50 index, a
welcome recognition of SAP’s blue-chip status in the European
market. The chief criteria for inclusion in the index aremarket
capitalization (weighted to reflect the free float) and the sector
or industry in which a company operates. |
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