Beiersdorf joins Dax; ousts Delivery Hero from Germany’s blue-chip index

Beiersdorf joins Dax; ousts Delivery Hero from Germany’s blue-chip index

THE WHAT? Beiersdorf is set to replace Delivery Hero on Germany’s DAX index, according to a report published by Market Watch.

THE DETAILS The German manufacturer of Nivea will be promoted to the blue-chip index on June 20, the German exchange operator Deutsche Boerse, announced, while Delivery Hero will drop down to the MDAX index.

THE WHY? The 40 companies that make up the DAX index are reviewed every three months and relegated or promoted based on their free-float market capitalization, Market Watch said.

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