ZUG (dpa-AFX) - Lufthansa shares have missed the chance to return to Germany's leading DAX index. As announced late Wednesday evening by Stoxx, the index provider belonging to Deutsche Börse, there will be no changes in the DAX. The airline had held out hope for a promotion until the very end. Lufthansa was a DAX member for more than 30 years before having to leave the leading index in 2020 due to the upheaval caused by the COVID-19 pandemic.
Meanwhile, numerous changes are taking place in Germany's second and third stock market tiers. In the MDAX, engine manufacturer Deutz, steel group Salzgitter, and optics specialist Jenoptik will move up from the small-cap SDAX index. In exchange, Teamviewer, Fielmann, and Carl Zeiss Meditec will be relegated to the SDAX. Additionally, in this index, rail IT provider Init Innovation In Traffic Systems will replace software company PSI Software. These changes will take effect on March 23.
Furthermore, automotive supplier Schaeffler will move up from the SDAX to the MDAX, replacing Deutsche Wohnen there. Einhell preferred shares will be added to the SDAX in return. These changes will already take effect on March 9.
The Deutsche Börse subsidiary ISS Stoxx reviews the indices of the DAX family (DAX, MDAX, SDAX, and TecDAX) on a quarterly basis.
Index changes are especially significant for funds that replicate indices directly. Adjustments and reweightings must then be made accordingly, which can impact share prices./jha/
