The energy company Siemens Energy, which was only relegated from the DAX to the MDAX in March, will soon return to the leading German index. The cooking box supplier Hellofresh, which will then be found in the index of medium-sized values, has to be eliminated. Deutsche Börse announced this late in the evening after the index review. The changes will come into effect on Monday, September 19.
The market value is crucial
The stock market value is the main factor determining the rise and fall of companies in the German stock market barometer. The index provider measures this based on the proportion of freely tradable shares in the individual companies. The volume-weighted average price in the last 20 trading days before the indices are checked is taken into account.
As expected, it was no longer enough for Hellofresh to remain in the DAX. Since the beginning of the year, two-thirds have lost value. After a brief phase of stabilization, the share's downward trend picked up speed again in mid-August. Index changes are particularly important for funds that replicate indices in real terms (physically replicating ETFs). There must then be shifted and reweighted accordingly, which can have an impact on share prices.
Further changes decided
There are also changes in the other indices of Deutsche Börse. Three stocks from the SDax small-cap index will soon be included in the MDAX: the US telecom equipment supplier Adtran, which recently took over Adva, and the two automotive suppliers Stabilus and Hella, now a Faurecia subsidiary. Added to this are Hellofresh.
Three MDAX companies are relegated to the SDAX: the badly hit energy group Uniper, Grand City Properties and the IT service provider Cancom.
In addition to these four changes of position, there will also be four other innovations in the SDAX small-cap index, which comprises 70 stocks. Wind turbine manufacturer Nordex, which was dropped from the SDAX in June for not publishing its quarterly report on time, is returning. According to Deutsche Börse, wind and solar park developer Energiekontor, Südzucker subsidiary Cropenergies and SGL will also be included.
Deutsche Euroshop, the real estate company Adler Group, Aareal Bank and the B2B mail order company Takkt will be leaving.
Deutsche Börse also announced changes for the TECDAX. Adtran and Nordex are included in the German technology index, while Kontron and telecom provider 1&1 are removed.