Euronext yesterday announced the launch of the Alternext Index, an index of the companies listed on its alternative market.

Alternext, the Euronext market dedicated to small and medium-size business, counts 39 companies listed in Paris, with market capitalization totaling approximately 2 billion euros. Alternext Brussels will be welcoming its first listing today, and the market should also be opening in Amsterdam during the second half of the year.

The Alternext Index is expected to serve as a tool for asset managers specializing in small and mid-cap stocks, and as a way to promote its listings. The index will be weighted for market capitalization and calculated daily. It launches September 4.