footsie

noun foot·sie \ ˈfu̇t-sē \
variants: or footsy
Updated on: 13 Oct 2017

Definition of footsie

1 :a furtive flirtatious caressing with the feet (as under a table)
2 :a usually surreptitious cooperation or negotiation with someone supposed hostile to one's own interests usually used with play

Recent Examples of footsie from the Web

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'footsie.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

Origin and Etymology of footsie

diminutive of 1foot


Financial Definition of FOOTSIE

footsie

What It Is

Footise is slang for the Financial Times 100 Index, or FTSE, which is the most widely used benchmark for the performance of equities traded on the London Stock Exchange.

Started in January 1984 with an initial value of 1,000, the index contains the 100 largest U.K.-domiciled companies traded on the London Stock Exchange (based on market capitalization).

How It Works

The stocks in this index represent more than 80% of the value of all issues traded on the London Stock Exchange. Because the index is weighted by market cap, its largest component stocks have the greatest influence on the index's value. The index is quite unusual in that it reweights its component stocks daily to represent the actual state of the market. Meanwhile, the index is fully rebalanced (that is, the FTSE adds or subtracts stocks from the index) on a quarterly basis.

Why It Matters

Because it covers several industries and the market caps of its constituents compose the vast majority of the UK market, the FTSE 100 is one of the most widely followed European indexes. As such, it is the basis for a variety of funds, derivatives, and exchange-traded funds.

The top 10 holdings constitute 44.27% of the index's market cap. The industries may be diverse, but recent additions make it an index that is increasingly regarding as detached from the UK economy. The market-cap weighting creates a disproportionately high influence for large companies and the sectors in which they reside.



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