Dax 40 about to take off - Airbus, Brenntag & Co .: These companies have the best opportunities for advancement

The first German stock exchange league is growing in September.

Then it will be decided who will be among the 40 corporations in the future will not be decided until September.

A lot is already being calculated and speculated.

Frankfurt / Main - The Wirecard scandal has shaken Deutsche Börse.

The Frankfurt market operator tightened the rules for the Dax * family last year.

The reform will be implemented this September.

The biggest changes are for the flagship: the German share index.

And the expectations are great.

It will be “livelier” thanks to the upcoming expansion of the Dax from 30 to 40 values, as DZ Bank expert Christian Kahler hopes.

Index expert Silke Schlünsen from the investment bank Stifel speaks of a “fresh wind”.

A rejuvenation is imminent for the Dax in view of some high-growth climbers from the MDax.

Dax 40: Airbus is set

Then Airbus will also be allowed to participate in the leading German index.

The Franco-German aircraft manufacturer will be by far the largest of the ten new additions.

With a current market weight of around 87 billion euros, the classic industrial group will also be a heavyweight among the long-established DAX members in the future, on a par with Daimler and Allianz.

The influence of Airbus on the Dax is likely to be "considerable" soon, says DZ Bank expert Kahler.

Because while this share will soon have an index weight of five percent in the future, the other nine values, which will move up to the top stock market league in autumn, all together probably represent a total of only around eight percent of the future benchmark index, according to Kahler's calculations.

Because of their size, according to an overview by analysts at DZ Bank, the fashion retailer Zalando, the aroma and fragrance manufacturer Symrise, the medical technology group Siemens Healthineers, the holding company Porsche, the cooker box supplier Hellofresh and the chemicals dealer Brenntag are considered to be included in the new Dax (see table).

Dax 40: Better sector balance

“The Dax 40 will be better mixed,” says Kahler.

The auto sector, which is currently by far the dominant car sector, is being overthrown.

Other areas are gaining in importance, especially health and medical technology - companies that investors have long since kept an eye on in view of the corona pandemic.

In addition to Healthineers, the pharmaceutical and laboratory supplier Sartorius is in the starting blocks.

In addition, Qiagen will be given opportunities for promotion to the top tier of the stock market.

However, the diagnostics company is in fierce competition with, for example, Beiersdorf, Puma, LEG Immobilien and Hannover Re.

One more place could become free for the smaller among the big ones if the merger of the real estate companies Vonovia and Deutsche Wohnen is completed as planned until the decision on the new Dax composition.

Index expert Schlünsen welcomes the fact that the Dax will in future also reflect the economic change in the direction of digitization to a greater extent.

“Because that's where the journey goes,” she says, referring as examples to the Internet stocks Zalando and Hellofresh expected in the Dax.

Dax 40: Deutsche Börse raises the bar

To ensure that the new Dax is even better quality than the old one, Deutsche Börse has introduced additional admission criteria and standards, for example with regard to operating profit and corporate governance regulations. In future, the stock exchange only wants to include profitable companies in the Dax. Bankruptcy candidates and corporations who fail to comply with their duty to publish interim reports on time should no longer have lost anything in the first series of German stock exchanges.

The Frankfurt store operator thus drew conclusions from the loopholes in the old set of rules.

Because the payment processor Wirecard was able to stay in the Dax for months despite a accounting scandal that caught up in the summer of 2019 and continued to get out of hand.

In addition, with the inclusion of Delivery Hero on the Dax, a company followed on Wirecard that has not yet made a cent of profit.

Dax 40: No impact for ETF investors

For private investors who, for example, invest in the DAX via exchange-traded index funds, so-called ETFs *, not much will change on the whole.

Despite the ten new companies, there is no impact on the score of the leading index.

Only the weight of the individual shares changes.

The ETFs will be rebuilt accordingly.

Deutsche Börse will announce on the evening of September 3rd who will ultimately get into the Dax and who will not. The basis is the August ranking list of listed companies in Germany, whereby the so-called volume-weighted average price per share over the last 20 trading days in August will be decisive. But that gives rise to all sorts of calculations and speculations.

(dpa / utz) * Merkur.de is part of IPPEN.DIGITAL.