Promoted to first division
The cosmetics manufacturer Beiersdorf and the steel producer Salzgitter gets two new additions to the German stock index DAX. This requires the tire maker Continental and the real estate financier Hypo Real Estate vacate their seats.
The first stock exchange league enough future to Hamburg first time in the 20-year history of the German Dax stock index moves up with the Nivea manufacturer Beiersdorf Group from Germany's second largest city in the leading index.
As the German stock exchange yesterday evening announced after the market closes, will also be added to the Lower steel tube manufacturer and Salzgitter in the Dax. This requires the tire manufacturer Continental (Hanover) and the real estate financier Hypo Real Estate evacuate (HRE / Munich) their places. HRE and Conti will continue in the MDAX of medium-sized listed values. The changes are effective as at 22 December. Last of the Kassel K + S fertilizer companies for tourism and shipping group Tui was moved up in the Dax.
"We are very pleased to now be among the top 30 listed companies in Germany" are one, "said the CEO of Beiersdorf AG, Thomas-B. Quaas. "We Nivea have done in recent years in the market for skin and beauty care for the world number one. And we are confident that we will continue to develop better than the market. "
Salzgitter sees in the Dax-rise and a confirmation of its successful growth strategy. "We are very pleased about this rise, but remain with both feet on the ground. Exaggerated expectations of the change we cherish not, "said company spokesman Bernd Gersdorff. However, it is desirable, medium and long term to remain in the segment.
A Continental spokesman said in Hanover: "We are still of the opinion that Continental is in the Dax and also in the sense of the index continuity to remain in the Dax pleads." Even in the course of the takeover offer by Schaeffler Group shares offered are not freely tradable on the stock exchange. In addition, Conti expect that even after a takeover still enough shares will be freely tradable, to meet the criteria of the German stock exchange.
A HRE spokesman in Munich did not comment on the Dax-down of real estate financier. Hypo Real Estate in the wake of the financial crisis had happened on the verge of collapse. The market value of the group broke a dramatically this year: The market capitalization of tradable shares (free float) fell since the beginning of 7.6 billion euros to 623 million euros.
After the Frankfurt market operator as a result of the turbulence at the carmaker VW papers had amended its rules index is a proportion of freely tradable shares of at least ten (previously five) percent requirement for all in the German indices noted values.
The M-Dax value AMB Generali has to leave because of his insufficient free float share all indices. According to the decision of the Working Group equity indices of Deutsche Borse for the shares of the specialty packaging manufacturer Gerresheimer in the index of the medium value is taken.
The technology index Tec-Dax lost - partly because of the new free float system - the telecom company Versatel and electronics specialist Epcos their places at Smartrac and Jenoptik. In the S-Dax vacant space of the M-Dax-climber Gerresheimer and the S-Dax-places of SME Bank and IKB HCI Capital are held by Klockner-Werke, Loewe and Delticom.
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