As of September, the energy company ExxonMobil will no longer be among the 30 companies in the Dow Jones Index
Photo: KAREN BLEIER / AFPAfter 92 years, the oil company ExxonMobil is getting out of the Dow Jones at the end of the month, the index provider S&P Dow Jones Indices announced. The pharmaceutical giant Pfizer and the defense company Raytheon Technologies will also no longer be among the 30 standard values in the USA. Instead, the SAP competitor Salesforce, the biotechnology company Amgen and the conglomerate Honeywell move into the index.
The changes are triggered by a stock split at Apple, in which each share is to be split into four new shares. This makes the individual stocks cheaper and more attractive again for small investors. Most recently, Apple shares were valued above the $ 500 mark. The course will be quartered by the split.
That doesn't change the market capitalization, which recently rose above the threshold of two trillion dollars. But Apple's weight in the index is falling because, unlike in Germany, it is calculated on the basis of the share price - the market capitalization is not important.
Tech industry more represented
The Dow Jones wants to map the US economy as completely as possible. Because the share split will reduce the importance of the tech industry in the index, Salesforce was selected as the newcomer. The announced changes made the index broader, announced S&P Dow Jones Indices. This would reduce overlap between similar companies.
The shares of the three newcomers will also be worth more than those of the relegated. The value of the newcomer Salesforce has increased forty-fold since the 2008 financial crisis. The company is now worth almost $ 190 billion on the stock exchange, around ten billion more than ExxonMobil.
The oil giant's share price had almost halved since the end of 2008. The company has been a member of the Dow Jones since 1928 and can therefore look back on the longest history in the index. After the departure of the group, Chevron is now the last remaining energy company.
Icon: The mirrorjhm / dpa / Reuters
