In February, the airline narrowly missed 33rd place in the DAX ranking, which would have guaranteed its return under the "Fast Entry" rule. For Lufthansa to have been promoted as 34th under the "Regular Entry" rule, Zalando, as the weakest DAX stock, would have needed to fall no lower than 48th place. However, the online retailer managed to secure 46th place, as shown in the ISS Stoxx ranking published on Wednesday.
In contrast, there will be four changes among the 50 MDAX stocks, one of which will take effect as early as next Monday (March 9). As the free float of Vonovia subsidiary Deutsche Wohnen has dropped below ten percent, it will be removed from the MDAX and replaced by automotive and industrial supplier Schaeffler. Bavarian tool manufacturer Einhell will move up to the small-cap index SDAX for the first time as a result of Schaeffler's promotion.
At the regular review two weeks later (on March 23), engine manufacturer Deutz, steel producer Salzgitter, and technology group Jenoptik will join the MDAX. Making way for them will be communications software provider Teamviewer, eyewear retailer Fielmann, and ophthalmology specialist Carl Zeiss Meditec, all of whom will be relegated to the SDAX. Also new to the small-cap index is Karlsruhe-based Init, specializing in software for buses and trains, which will replace PSI Software in the index.
(Report by Alexander Hübner. Edited by Ralf Bode. For inquiries, please contact our editorial team at frankfurt.newsroom@thomsonreuters.com)
