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40 DAX stocks instead of 30: Airbus, Puma, Zalando and Co are included in the index. What are the ten newcomers?

2021-09-19T23:05:47.253Z

40 is the new 30 in the Dax: Well-known companies such as Airbus, Puma and Zalando are now also listed in the leading index. But there are also hidden champions. That's them.



Enlarge image

Airbus boss Guillaume Faury: The aircraft manufacturer is one of the ten new titles in the Dax

Photo:

Pascal Pavani / AFP

It is probably the most visible consequence of the Wirecard scandal: The German share index will be enlarged, it will lead 40 instead of 30 corporations from this Monday. In addition, new rules were gradually introduced, one of which has been in place since December: New DAX companies have had to make profits before taxes, interest and depreciation for at least two years. That was not the case with the fraud company Wirecard. With these steps, investors should now gain new confidence in the securities of the largest German companies.

The reform became necessary after it became clear in the summer of 2020 that the Wirecard balance sheets were falsified and the financial services provider was unable to raise EUR 1.9 billion.

Two months after the bankruptcy, Wirecard stocks were finally kicked out of the leading index and replaced by the food supplier Delivery Hero.

So now the big re-sorting starts.

more on the subject

  • Incriminating material against ex-Wirecard bosses: "The signature should please be 'free' on the last page" By Martin Hesse

  • Wirecard crash a year ago: Black Thursday in Aschheim by Tim Bartz, David Böcking, Martin Hesse and Gerald Traufetter

  • Wirecard Chronicle: The Scandal of the Year by Tim Bartz and Martin Hesse

The Dax is still determined by companies from the automotive and chemical industries.

This is also what Martin Utschneider, Head of Technical Analysis at Bank Donner & Reuschel, says.

"In terms of the branch distribution, it is not what one hoped for." But: "With 40 titles, we better reflect the German economy."

Utschneider welcomes the new rules.

For example, that the quarterly reports must be submitted within 30 days and approved by auditors.

If you miss the deadline, you fly.

"We see here a very quick possibility for the index provider to take companies out of the market."

Diversity in corporate management, on the other hand, does not play a role in promotion or relegation.

Therefore, it is also noticeable that there is no woman at the top of any newcomer.

All ten newcomers come from the MDax, which now only runs 50 companies, it is not topped up.

The newcomers in brief:

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Source: spiegel

All business articles on 2021-09-19

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