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NEWS

Siemens Energy to rejoin Germany’s blue-chip DAX, HelloFresh to exit

Siemens Energy to rejoin Germany's blue-chip DAX, HelloFresh to exit 35

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)

 

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