FRANKFURT (dpa-AFX) - Upcoming index reshuffles had a muted impact on affected share prices in the German equity market on Thursday. With few surprises in store, price action was largely driven by other catalysts. The changes are set to take effect on June 22. Index promotions and demotions are determined by free-float market capitalization and trading turnover.

Shares in construction group Hochtief are ascending to the Dax, as widely anticipated by analysts. To make room, shares of the VW holding company Porsche SE will be relegated to the MDax.

Hochtief shares eased by 2 percent on Thursday, though they have roughly tripled in value over the past year. Hochtief is primarily benefiting from its US subsidiary Turner. Through the construction of data centers, the group is capturing a share of the booming investment in AI infrastructure, particularly in the US but also in other regions, according to a recent analysis by LBBW. Porsche shares were trading slightly lower in recent dealings.

The semiconductor boom has significantly boosted chip stocks recently. This momentum helped propel Elmos Semiconductor, Siltronic, and Suss Microtec from the small-cap SDax into the mid-cap MDax. Nevertheless, all three saw sharp declines of up to 5 percent on Thursday, weighed down by broader weakness in the semiconductor sector following a disappointing outlook from US chip giant Broadcom, which failed to meet exceptionally high market expectations.

Shares of online pharmacy Redcare Pharmacy and advertising marketer Ströer edged lower in holiday trading. Both are set to exit the MDax for the SDax. They will be joined by forklift manufacturer Jungheinrich, whose shares, however, posted recent gains.

ISS Stoxx, a subsidiary of Deutsche Börse, reviews the Dax family indices (Dax, MDax, SDax, and TecDax) on a quarterly basis. Index changes are particularly significant for funds that physically replicate indices, as they must rebalance and reweight their holdings accordingly, which can influence share prices./ajx/ag