HeidelbergCement likely to replace Salzgitter in DAX
Heidelberg Cement will most likely replace steel producer Salzgitter in the blue-chip index DAX on the Frankfurt Stock Exchange at the next re-evaluation of the market indices.
Salzgitter’s share has lost more than 30% of its value since mid-April, so it is hardly going to avoid its replacement next week. It was nearly taken out of the index in early March, but then there were still many factors boosting the share, unlike now.
Heidelberg Cement’s growth, on the other hand, does not seem to be short-time, and it seems to be resistant to the most recent turns of the crisis. A year ago the company was highly indebted; its owner, billionaire Adolf Merckle committed suicide due to the collapse of his financial empire.
Abstracted from an original article in Handelsblatt Published under Cement News
