Bumpy start for the new DAX with 40 corporations

Frankfurt / Main (dpa) – For the first time in its more than 16 – year history, the German share index 40 Companies. The ten additional DAX members have been on the price list since Monday.

The aim of the reform of the most important German stock market barometer: The leading index should map the German economy more comprehensively. In addition, Deutsche Börse is applying stricter standards to the members of the Dax family.

The start for the newly established Dax was bumpy, because the crisis at the Chinese real estate company Evergrande weighed on prices. The leading index slipped at times close to the mark of 15. 000 to a low since mid-May. He closed 2, 31 percent lower at 15. 132, 06 points. Several rating agencies had further downgraded Evergrande’s creditworthiness and warned against payment defaults. “The fear of the next real estate crisis is currently great,” wrote analyst Christian Henke from broker IG a toxic mix. With the realignment of the Dax, however, the decline has hardly anything to do, explained analyst Konstantin Oldenburger from the trading house CMC Markets. Since the Dax record in August with over 16. 000 Points the economic pessimism increases.

Among the ten newcomers, Airbus is by far the company with the largest market value. With the Franco-German aircraft manufacturer, the Dax is getting another heavyweight at the level of the automaker Daimler and the insurance giant Allianz Sporting goods manufacturer Puma, the biotechnology and diagnostics company Qiagen, the pharmaceutical and laboratory supplier Sartorius, the medical technology group Siemens Healthineers, the aroma and fragrance manufacturer Symrise and the online fashion retailer Zalando.

As of 30. On the Dax anniversary in July 2018, Deutsche Börse boss Theodor Weimer had thought out loud about setting up the leading index “a little broader” – after all, the Dax is the barometer of the German economy. For a long time the index was dominated by the chemical, automotive, energy and financial services sectors. Now, for example, aspiring Internet companies are to get a place.

The Wirecard accounting scandal accelerated the tightening of the regulations. The Munich-based payment service provider was able to stay in the Dax for months despite billions in air bookings that were blown up in the summer 2020 and grew into one of the largest fraud cases in German economic history.

Because According to the rules in force at the time, Deutsche Börse could not simply throw the share out of the index overnight. Criticism was also caused by the fact that the food supplier Delivery Hero was promoted to the Dax for Wirecard and thus a company that has never made any money in ongoing business since it was founded 2011.

In future, Deutsche Börse plans to regularly review the composition of the Dax twice a year instead of once. Only profitable companies should be included. Bankruptcy candidates and corporations that do not meet their obligation to publish interim reports on time are said to have lost nothing in the first league of the stock market. is reduced to 50 title and thus loses weight. Five companies from the SDax small cap index moved up to the reduced MDax on Monday: the Vodafone transmitter mast subsidiary Vantage Towers, the recycling specialist Befesa, the forklift manufacturer Jungheinrich, the financial service provider Hypoport and Zooplus, an online retailer for pet supplies. The MDax went up on Monday with a minus of 1.4 percent 34. 799, 59 Points from trading.

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