DAX Index Family Adjustments for September: A Look at the Rising and Falling Trends
The German stock market is set for a significant reshuffle as several companies prepare to move between indices. On September 22, 2023, the DAX, MDAX, and TecDAX will witness some notable changes.
The DAX family, which includes Germany's leading blue-chip companies, is undergoing its third significant index adjustment this year. Two companies, GEA Group and Scout24, will enter the DAX, replacing Porsche and Sartorius, which are moving to the MDAX.
Porsche AG, a Volkswagen subsidiary, has been a member of the DAX since December 2022 but will now be leaving the index. The company has been experiencing sales issues, which may have contributed to its departure. On the other hand, Scout24, a real estate classifieds company, is moving up from the MDAX to the German leading index.
In the MDAX, Fielmann, a leading optician, is moving up from the SDAX. Meanwhile, Sartorius AG, a life science company, will be leaving the DAX and joining the MDAX. In the SDAX, telecommunications company 1&1 will be replacing SGL Carbon, while 1&1 will also be replacing Formycon, a biosimilars developer, in the TecDAX.
Evotec, a biotech company, will be leaving the MDAX. Its stock has lost around a third of its value in the past 12 months, potentially influencing its decision to move down an index.
These index changes are particularly important for funds that physically replicate indices, as they will need to rebalance and readjust their portfolios. This process can potentially impact stock prices, making it an interesting time to follow the market closely.
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