Germany's DAX 30 index to add 10 companies in major revamp

  • 📰 rapplerdotcom
  • ⏱ Reading Time:
  • 37 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 86%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

Companies to be included in the expanded DAX will be required to have made an operating profit over the last years.

The changes, which come into effect in September 2021, will raise the flagship index from 30 to 40 members, and require new entrants to have made an operating profit over the last years. They will also be required to publish their audited financial reports.

"This is a historic milestone," said independent analyst Timo Emden, and one that is"long overdue" for the Frankfurt index, which was launched in 1988 as Germany's answer to the Dow Jones Industrial Average. Wirecard filed for insolvency and its share price plummeted by 98% before it was booted off the index, becoming the first DAX company to fail.Deutsche Boerse's chief executive Theodor Weimer has previously made no secret of his desire to expand the DAX, which is smaller than France's CAC 40 or Britain's FTSE 100.

Berlin online fashion brand Zalando, biotech lab Qiagen, and fragrance maker Symrise are expected to be included in the expanded index.Delivery Hero

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines