Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Xetra  >  Commerzbank AG    CBK   DE000CBK1001

COMMERZBANK AG

(CBK)
  Report
Real-time Estimate Quote. Real-time Estimate Tradegate - 08/05 04:26:01 am
4.713 EUR   +3.86%
03:43aCOMMERZBANK AG : Jefferies reiterates its Neutral rating
MD
03:16aNEWS HIGHLIGHTS : Top Company News of the Day
DJ
01:15aCOMMERZBANK : expects net loss for 2020 after Q2 profit decline
RE
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsAnalyst Recommendations

Germany's Commerzbank gets the boot from the DAX index

share with twitter share with LinkedIn share with facebook
09/05/2018 | 04:57pm EDT
The headquarters of the Commerzbank are pictured before the bank's annual news conference in Frankfurt

FRANKFURT (Reuters) - Commerzbank, still partly owned by the German government after a bailout, will be expelled from the blue-chip DAX index to make room for a rising technology star, underscoring the declining fortunes of the nation's top banks.

The German stock exchange operator Deutsche Boerse, which compiles the index, made the announcement late on Wednesday. The change takes affect on Sept. 24.

Commerzbank's exit from the benchmark index paves the way for the entry of Wirecard, a payments company founded in 1999 whose market value is now double that of Commerzbank.

Deutsche Boerse periodically reassesses the composition of the index using trading data to measure market value and trading volume as a basis for deciding which companies to include. It also announced a shakeup of the composition of three key indexes that affects technology stocks.

Commerzbank, the nation's second-largest lender, was one of 30 founding members of the DAX in 1988.

The bank's expulsion had been widely expected, with its shares down 32 percent this year and a market capitalisation of 10.6 billion euros.

But it is still a blow for the 148-year-old bank that dominates Frankfurt's skyline. It comes days after its larger crosstown rival Deutsche Bank learned it would be expelled from the Eurostoxx 50 index of leading European stocks.

"It shows the extent to which German banks have fallen behind other industrial companies in Germany and Europe," said Klaus Nieding of shareholder lobby group DSW.

Commerzbank's chief executive Martin Zielke said in a statement after the announcement that "nothing changes for our customers and our business".

"At the moment it is obviously the case that the market values fintechs more highly than traditional banks," he said.

"This development shows that our strategy is the right one and spurs us on to push ahead with the transformation into a digital enterprise."

The German government still owns a 15 percent stake in Commerzbank after bailing it out during the financial crisis. The bank has been reducing staff and is trying to cut back-office bureaucracy to restore profitability.

As Germany's banks continue to battle with a legacy of bad debts, bloated headcounts and fines a decade after the global financial crash, Wirecard is benefiting from the power and scalability of platform economics.

With a staff of less than 5,000 - one tenth that of Commerzbank - Wirecard offers "omnichannel" payments solutions to merchants; risk management; real and virtual payment cards; and even has a German banking licence.

Deutsche Boerse also provided details of the stocks included in its revamped midcap index MDAX, smallcap index SDAX and technology focused TecDAX index.

Technology shares will now be included in the MDAX and SDAX. Previously, medium and small technology stocks were only included in the TecDAX index.

Also, bluechip technology stocks in the benchmark DAX index will also be included in the TecDAX index. SAP, Deutsche Telekom and Infineon Technologies, for example, are also now included in the TecDAX.

The change increases the number of companies in the MDAX to 60 from 50 and in the SDAX to 70 from 50.

(Reporting by Tom Sims; editing by Andrew Roche)

Stocks mentioned in the article
ChangeLast1st jan.
CHANGE INC. -0.22% 9280 End-of-day quote.219.12%
COMMERZBANK AG 4.89% 4.759 Delayed Quote.-17.75%
DAX 1.06% 12741.46 Delayed Quote.-4.89%
DEUTSCHE BÖRSE AG 1.38% 158.05 Delayed Quote.11.17%
DEUTSCHE TELEKOM AG 0.79% 14.71 Delayed Quote.0.21%
EURO STOXX 50 0.97% 3287.57 Delayed Quote.-13.27%
INFINEON TECHNOLOGIES AG 2.09% 22.675 Delayed Quote.9.33%
JUST GROUP PLC 2.51% 46.22 Delayed Quote.-43.04%
MDAX 1.26% 26896.31 Delayed Quote.-6.19%
MEMBERS CO., LTD. 3.85% 1483 End-of-day quote.-34.87%
SAP SE 1.17% 136.98 Delayed Quote.12.47%
SDAX 1.12% 12040.12 Delayed Quote.-4.86%
SDAX PERFORMANCE INDEX 9:00-20:00 0.83% 12040.12 Delayed Quote.-4.62%
TECDAX 0.75% 3042.85 Delayed Quote.0.18%
TECDAX PERFORMANCE INDEX 9:00-20:00 0.72% 3042.85 Delayed Quote.0.19%
THE GLOBAL LTD. 6.88% 202 End-of-day quote.-57.11%
WILL GROUP, INC. 4.06% 564 End-of-day quote.-54.95%
WIRECARD AG -0.08% 1.9254 Delayed Quote.-98.21%
share with twitter share with LinkedIn share with facebook
Latest news on COMMERZBANK AG
03:43aCOMMERZBANK AG : Jefferies reiterates its Neutral rating
MD
03:16aNEWS HIGHLIGHTS : Top Company News of the Day
DJ
01:15aCOMMERZBANK : expects net loss for 2020 after Q2 profit decline
RE
01:05aCOMMERZBANK : generates profit for quarter in spite of corona - costs and capita..
EQ
01:05aCOMMERZBANK : generates profit for quarter in spite of corona - costs and capita..
EQ
12:59aCOMMERZBANK : expects net loss for 2020 after second quarter profit decline
RE
12:16aNEWS HIGHLIGHTS : Top Financial Services News of the Day
DJ
08/04GLOBAL MARKETS LIVE: Walt Disney, Bayer and BP’s results
08/04COMMERZBANK : Cerberus vows to work with Commerzbank chair despite concerns - so..
RE
08/04Amprion owners commit to $472 mln equity boost in 2020
RE
More news
Financials
Sales 2020 8 412 M 9 936 M 9 936 M
Net income 2020 -459 M -542 M -542 M
Net Debt 2020 - - -
P/E ratio 2020 -10,9x
Yield 2020 0,26%
Capitalization 5 683 M 6 689 M 6 712 M
Capi. / Sales 2020 0,68x
Capi. / Sales 2021 0,67x
Nbr of Employees 47 897
Free-Float 84,4%
Chart COMMERZBANK AG
Duration : Period :
Commerzbank AG Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends COMMERZBANK AG
Short TermMid-TermLong Term
TrendsBullishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 19
Average target price 4,68 €
Last Close Price 4,54 €
Spread / Highest target 41,0%
Spread / Average Target 3,08%
Spread / Lowest Target -35,0%
EPS Revisions
Managers
NameTitle
Martin Zielke Chairman-Management Board
Stefan Schmittmann Chairman-Supervisory Board
Jörg Hessenmüller Chief Operating Officer
Bettina Orlopp Chief Financial Officer
Uwe Tschäge Deputy Chairman-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
COMMERZBANK AG-17.75%6 689
JPMORGAN CHASE & CO.-31.06%292 874
INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED-22.67%243 291
BANK OF AMERICA CORPORATION-28.99%216 516
CHINA CONSTRUCTION BANK CORPORATION-13.37%184 644
BANK OF CHINA LIMITED-20.72%128 678