HeidelbergCement to replace Salzgitter in DAX index

HeidelbergCement to replace Salzgitter in DAX index
07 June 2010

HeidelbergCement will replace the steel company Salzgitter in Germany’s blue-chip DAX index exchange operator Deutsche Boerse said in a statement late on Friday.

The change in the DAX will be effective from June 21, the exchange operator said.

The sale of a majority stake in HeidelbergCement by industrial heir Ludwig Merckle last year boosted the group’s free float, helping it meet a basic criterion for entry onto the index.

The revisions are important for index-tracking funds, whose portfolios mirror the composition of an index.

Thanks to a ’Fast Entry Rule’ on the Frankfurt Stock Exchange, a company can enter the DAX index ahead of the stock exchange’s periodic review if it ranks within the 25 biggest companies both in terms of market capitalisation and turnover.
Published under Cement News