AGL 40.00 Decreased By ▼ -0.16 (-0.4%)
AIRLINK 129.53 Decreased By ▼ -2.20 (-1.67%)
BOP 6.68 Decreased By ▼ -0.01 (-0.15%)
CNERGY 4.63 Increased By ▲ 0.16 (3.58%)
DCL 8.94 Increased By ▲ 0.12 (1.36%)
DFML 41.69 Increased By ▲ 1.08 (2.66%)
DGKC 83.77 Decreased By ▼ -0.31 (-0.37%)
FCCL 32.77 Increased By ▲ 0.43 (1.33%)
FFBL 75.47 Increased By ▲ 6.86 (10%)
FFL 11.47 Increased By ▲ 0.12 (1.06%)
HUBC 110.55 Decreased By ▼ -1.21 (-1.08%)
HUMNL 14.56 Increased By ▲ 0.25 (1.75%)
KEL 5.39 Increased By ▲ 0.17 (3.26%)
KOSM 8.40 Decreased By ▼ -0.58 (-6.46%)
MLCF 39.79 Increased By ▲ 0.36 (0.91%)
NBP 60.29 No Change ▼ 0.00 (0%)
OGDC 199.66 Increased By ▲ 4.72 (2.42%)
PAEL 26.65 Decreased By ▼ -0.04 (-0.15%)
PIBTL 7.66 Increased By ▲ 0.18 (2.41%)
PPL 157.92 Increased By ▲ 2.15 (1.38%)
PRL 26.73 Increased By ▲ 0.05 (0.19%)
PTC 18.46 Increased By ▲ 0.16 (0.87%)
SEARL 82.44 Decreased By ▼ -0.58 (-0.7%)
TELE 8.31 Increased By ▲ 0.08 (0.97%)
TOMCL 34.51 Decreased By ▼ -0.04 (-0.12%)
TPLP 9.06 Increased By ▲ 0.25 (2.84%)
TREET 17.47 Increased By ▲ 0.77 (4.61%)
TRG 61.32 Decreased By ▼ -1.13 (-1.81%)
UNITY 27.43 Decreased By ▼ -0.01 (-0.04%)
WTL 1.38 Increased By ▲ 0.10 (7.81%)
BR100 10,407 Increased By 220 (2.16%)
BR30 31,713 Increased By 377.1 (1.2%)
KSE100 97,328 Increased By 1781.9 (1.86%)
KSE30 30,192 Increased By 614.4 (2.08%)

FRANKFURT AM MAIN: German stock exchange operator Deutsche Boerse on Monday proposed adding 10 more companies to the prestigious DAX 30 index as part of an overhaul spurred by the collapse of fraud-hit payments provider Wirecard.

Deutsche Boerse said it was launching a market consultation asking investors to weigh in on suggested reforms, including expanding the blue-chip DAX from 30 to 40 members.

Under the same proposal, the mid-size MDAX would be reduced from 60 to 50 listings.

“It’s no secret that I personally would welcome the expansion of the DAX 30 to a DAX 40,” said Deutsche Boerse CEO Theodor Weimer in a statement.

The change could improve the diversity of an index dominated by heavyweights in the auto and chemical sectors, observers said.

Comdirect Bank analyst Andreas Lipkow said a larger DAX “could be especially interesting” for tech firms that are currently missing from the mix.

Growing the club would also give Germany’s benchmark index a greater total market capitalisation, “increasing its importance to institutional investors”, Lipkow told AFP.

The results of the consultation will be announced on November 23.

Investors are also being asked to give their opinion on tougher entry requirements for future DAX hopefuls.

Deutsche Boerse is proposing that would-be members “must prove their profitability” and must have “an audit committee on the supervisory board”.

DAX-listed companies should also be required to publish their quarterly results at the agreed times, risking a possible “fast exit” from the index if they fail to comply.—AFP

Comments

Comments are closed.