Frankfurt / Main (dpa) – For the first time in its more than 30 – year history, the German share index includes 40 companies. The ten additional DAX members have been on the price list since Monday.
The aim of the historical reform of the most important German stock market barometer: The leading index is to map the German economy more comprehensively. In addition, Deutsche Börse is now applying stricter standards to the members of the Dax family.
Among the ten newcomers, Airbus is by far the company with the highest 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.
The following nine companies have also been new to the Dax since Monday: the chemicals dealer Brenntag, the supplier of cooking boxes Hellofresh, the Porsche holding company, the sporting goods manufacturer Puma, the biotechnology and diagnostics company Qiagen, the pharmaceutical and laboratory supplier Sartorius, the medical technology group Siemens Healthineers, the flavor and fragrance manufacturer Symrise and the online fashion retailer Zalando.
Already at 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 four sectors of chemicals, the automotive industry, energy and financial services. Now, for example, aspiring Internet companies are to get a place in the shop window of the German economy.
Wirecard scandal leaves its mark
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 German stock market league.
Simultaneously with the Dax expansion, the MDax of the medium-sized values of 60 is reduced to 50 title and thus loses weight significantly. Five companies from the SDax small cap index moved up to the reduced MDax on Monday: the Vodafone transmission 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.