Siemens Energy to join German blue-chip DAX, HelloFresh to exit

A trader walks next to Siemens Energy AG logos during Siemens Energy’s initial public offering (IPO) on the Frankfurt Stock Exchange in Frankfurt, Germany, September 28, 2020. REUTERS/Ralph Orlowski

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FRANKFURT, Sept 5 (Reuters) – German Siemens Energy (ENR1n.DE) will join the country’s top DAX stock index, while meal kit delivery service HelloFresh (HFGG.DE) will get the start.

German stock operator Deutsche Boerse (DB1Gn.DE), which compiles the index, made the announcement on Monday evening. The change takes effect on September 19.

Deutsche Boerse periodically reassesses the composition of the index using trading data to measure market value and trading volume as the basis for deciding which companies to include.

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Last year, the index was expanded to 40 companies from 30 in its biggest overhaul in history.

Siemens Energy, which dropped the DAX earlier this year, has been in the spotlight recently as it and Gazprom (GAZP.MM) expressed differences over repair work on the Nord Stream 1 pipeline. Read more

Among the changes to the mid-cap MDAX index, HelloFresh will join, while utility group Uniper (UN01.DE), which recently received a government bailout, will be downgraded to the small-cap SDAX.

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Reporting by Tom Sims; Editing by Lisa Shumaker and Richard Chang

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