DAX 
They will replace the metal recycler Befesa and the automotive and industrial supplier Stabilus in the 50-company index, which will be relegated to the small-cap index SDax, as announced by Deutsche Börse subsidiary ISS Stoxx on Wednesday evening. Hamburg-based Evotec was only forced to leave the MDax in September, but since then the shares have risen again in view of a possible sale of the company. Auto1 was previously listed on the MDax until spring 2022.
As expected, there were no changes in the leading Dax index of the 40 heaviest stocks.
Three companies are moving up to the SDax: The software company Nexus is benefiting from a takeover bid worth around 1.1 billion euros from financial investor TA Associates, which caused its shares to rise sharply. The scientific publisher Springer Nature made the leap just over two months after its IPO. Another new addition to the small cap index is the Munich-based biotech company Formycon, which now has a market capitalization of 868 million euros. Formycon's major shareholder is the Athos family holding of "Hexal" founders Thomas and Andreas Strüngmann.
The Stuttgart-based office furniture retailer Takkt, the Thyssenkrupp hydrogen subsidiary Nucera and the US network company Adtran Holdings, which is also listed on the US technology exchange Nasdaq, have to leave the SDax. In the case of the parent company of the Bavarian Adtran Networks (formerly Adva Optical), which is also listed on the SDax, this is not due to its market capitalization, but to its low trading volume.
The changes will take effect on November 23, one day before Christmas Eve.
(Report by Alexander Hübner; Edited by Hans Busemann; If you have any questions, please contact our editorial team at berlin.newsroom@thomsonreuters.com (for politics and the economy) or frankfurt.newsroom@thomsonreuters.com (for companies and markets)).
