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Siemens Energy to rejoin Germany’s blue-chip DAX, HelloFresh to exit
Global Banking & Finance Review®
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FRANKFURT (Reuters) – Germany’s Siemens Energy will rejoin the nation’s premier DAX stock index, while the meal-kit delivery service HelloFresh will get the boot.
The German stock exchange operator Deutsche Boerse, which compiles the index, made the announcement late on Monday. The change takes affect on Sept. 19.
Deutsche Boerse periodically reassesses the composition of the index using trading data to measure market value and trading volume as a basis for deciding which companies to include.
Last year, the index was expanded to 40 companies from 30 in its biggest overhaul in history.
Siemens Energy, which dropped out of the DAX earlier this year, has been in the spotlight recently as it and Gazprom have voiced differences over repair work of the Nord Stream 1 pipeline.
Among changes to the mid-cap MDAX index, HelloFresh will join, while utility group Uniper, which recently received a government bailout, will be demoted to the small-cap SDAX.
(Reporting by Tom Sims; Editing by Lisa Shumaker and Richard Chang)
The DAX index is a stock market index that represents 40 of the largest and most liquid German companies listed on the Frankfurt Stock Exchange.
Deutsche Boerse is a German financial services company that operates the Frankfurt Stock Exchange and provides trading, clearing, and settlement services.
Market capitalization is the total market value of a company's outstanding shares, calculated by multiplying the share price by the total number of shares.
A stock index is a measurement of a section of the stock market, calculated from the prices of selected stocks, which represents the performance of that market.
Trading volume refers to the total number of shares or contracts traded for a specific security during a given period.
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