FRANKFURT (dpa-AFX) - While everything is likely to remain the same in the Dax for the index review in June, changes are in the offing in the MDax and SDax. The main focus here will be on the travel group Tui and the perfumery chain Douglas, which returned to the stock exchange in March.

Deutsche Borse will review the indices of the Dax family, consisting of the leading index Dax, the MDax for medium-sized companies, the SDax for smaller companies and the technology index TecDax, on Wednesday, June 5. Any changes will be announced in the evening after the US stock market closes and will come into effect on Monday, June 24.

There is currently only one uncertainty in the leading German index, and that concerns the possible takeover of the plastics group Covestro by the Arab oil company Dhabi National Oil (Adnoc), index expert Luca Thorißen from the investment bank Stifel told the financial news agency dpa-AFX on Friday. However, even if news were to become known soon, a change in the Dax for the extraordinary index review by Deutsche Borse is unlikely to take place yet.

Thorißen and index expert Pankaj Gupta expect the Tui share to return to the MDax. Now that the travel group has returned to the strictly regulated Prime Standard of the Frankfurt Stock Exchange and the last day of trading in London is June 21, nothing should stand in the way of the share being included in the MSCI EMU Small Cap Index on June 10 and the MDax on June 24, according to Gupta.

The Stifel expert also expects Rational to return to the MDax. The commercial kitchen equipment supplier had to leave the index in March because a criterion from the German Corporate Governance Code, the recommendations for good corporate governance, had not been adhered to. Specifically, this concerned the term of office of the Chairman of the Audit Committee on the Supervisory Board. Hans Maerz had exceeded the twelve-year limit as a member and was therefore no longer considered independent according to the applicable rules.

In addition, according to Thorißen, the commercial vehicle manufacturer Traton is likely to be promoted from the SDax to the MDax, thereby pushing the television group RTL into the index of smaller stocks.

For newcomer Douglas, which is likely to be included in the SDax, the Stifel expert expects Heidelberger Druck to leave the index. In addition, the insurance company W&W and the hydrogen specialist Thyssenkrupp Nucera are also likely to be removed, as the inclusion of Tui and Rational in the MDax means that the inverter manufacturer SMA Solar and the car rental company Sixt will probably be relegated to the SDax.

Meanwhile, the shares of Borussia Dortmund (BVB) should also be blessed with Borussia's luck. According to Thorißen, BVB's return to the ranks of the European soccer elite, including a place in the Champions League final, will almost certainly save the soccer club its place in the SDax.

Index changes are particularly important for funds that replicate indices in real terms (physically replicating ETFs). They then have to be rebalanced accordingly, which can have a short-term impact on share prices./ck/la/he