These projections come as the STOXX index committee prepares to meet on June 3. Following a status quo in March, this session could lead to reshuffles effective from when the market opens on June 22.

Porsche also under pressure

According to Deutsche Bank, Zalando and Porsche Automobil Holding are currently the weakest links in the index, with free-float market capitalizations of €4.7bn and €4.8bn, respectively. With such a valuation, the online retailer currently sits at the 40th and final spot in the rankings.

To fill these potential vacancies, analysts are once again mentioning Lufthansa. A return has been frequently discussed for the carrier, which was forced to exit the DAX in 2020 - at the height of the health crisis - after more than three decades of continuous presence.

Hochtief favored over a borderline Lufthansa

The national airline's return remains uncertain, however. Although it ranks 34th based on regulatory liquidity and free-float capitalization criteria, this performance is still slightly too low. To qualify for fast-entry, a company must reach at least 33rd place on the selection list.

Consequently, Deutsche Bank is betting instead on Hochtief, whose profile appears more balanced. Buoyed by Berlin's infrastructure stimulus plan, the construction group has seen its stock soar by 190% over the last twelve months. While its total market capitalization reaches €39bn, its free float remains limited to 22% (approximately €9bn). This level is sufficient to propel it to 32nd place in the eligibility rankings, thereby opening the doors to the DAX.

On the financial markets this Tuesday around 10:15 AM, these outlooks weighed on the threatened stocks: Zalando fell by 1.1% and Porsche Automobil Holding shed 0.6%. Among the contenders, Hochtief shares rose by 0.6% while Lufthansa stock edged down by approximately 0.5%.