As of today, June 1, FTSE Group is taking over the calculation of the main Italian equity index benchmark, the MIB. The FTSE MIB will replace the S&P/MIB, though the index methodology will remain the same.

A number of other FTSE Italia indices are also being launched today.

The FTSE Italia Mid Cap, which includes 60 medium-sized companies, replaces the current Midex index. The FTSE Italia Small Cap is a new launch, with 120 constituents. The FTSE Italia All Share, with around 250 stocks, will be the main broad market benchmark, replacing the Mibtel.

The other new indices are the FTSE Italia sector indices, the FTSE Italia Mib Storico, the FTSE Italia AIM and the FTSE Italia Star.

Commenting on today's news, Chris Broad, FTSE COO, said: "FTSE aims to be the number one index provider worldwide. We are delighted to have this opportunity to work closely with market participants in Italy and to developing innovative new index tools to meet their requirements."