Airbus and nine other corporations will join Dax

Growth for the Dax: The Franco-German aircraft manufacturer Airbus and nine other corporations will join the first German stock market league on September 20. Deutsche Börse announced the new composition of the Deutsche Aktienindex, which has been expanded from 30 to 40 companies. In return, as announced in November, the Frankfurt store operator has reduced the MDax for medium-sized stocks from 60 to 50 stocks. With Airbus, the Dax is getting another heavyweight at the level of the automaker Daimler or the insurance giant Allianz. The following nine companies will soon be added to the DAX list: the chemicals dealer Brenntag, the cooking box supplier Hellofresh, the holding company Porsche, the sporting goods manufacturer Puma, the biotechnology and diagnostics company Qiagen, the pharmaceutical and laboratory supplier Sartorius, the medical technology group Siemens Healthineers, the Flavors and fragrances manufacturer Symrise, the online fashion retailer Zalando. Deutsche Börse decided to enlarge the Dax last year. For a long time, the most important German stock market barometer was dominated by the four sectors chemicals, automotive, energy and financial services. Now the leading index is supposed to represent the German economy in a more representative way. The composition of the Dax, which has existed since July 1988, is to be checked twice a year instead of just once a year. In future, Deutsche Börse only wants to include profitable companies in the Dax. If a company wants to become a member, it must have been profitable at least on the basis of earnings before interest, taxes, depreciation and amortization (Ebitda) in the previous two financial years. Bankruptcy candidates and corporations who fail to comply with their duty to publish interim reports on time are said to have lost nothing in the first German stock market league. By tightening the rules for the Dax family, the stock exchange is reacting to the Wirecard accounting scandal. The payment service provider was able to stay in the Dax for months, despite billions in air bookings that were exposed in the summer of 2020, because the previous rules did not allow it to be expelled from the leading index quickly. There was also criticism that the food supplier Delivery Hero was promoted to the Dax for Wirecard and thus a company that has never made any money in day-to-day business since it was founded in 2011.