AGL 38.54 Increased By ▲ 0.97 (2.58%)
AIRLINK 129.50 Decreased By ▼ -3.00 (-2.26%)
BOP 5.61 Decreased By ▼ -0.03 (-0.53%)
CNERGY 3.86 Increased By ▲ 0.09 (2.39%)
DCL 8.73 Decreased By ▼ -0.14 (-1.58%)
DFML 41.76 Increased By ▲ 0.76 (1.85%)
DGKC 88.30 Decreased By ▼ -1.86 (-2.06%)
FCCL 35.00 Decreased By ▼ -0.08 (-0.23%)
FFBL 67.35 Increased By ▲ 0.85 (1.28%)
FFL 10.61 Increased By ▲ 0.46 (4.53%)
HUBC 108.76 Increased By ▲ 2.36 (2.22%)
HUMNL 14.66 Increased By ▲ 1.26 (9.4%)
KEL 4.75 Decreased By ▼ -0.11 (-2.26%)
KOSM 6.95 Increased By ▲ 0.10 (1.46%)
MLCF 41.65 Decreased By ▼ -0.15 (-0.36%)
NBP 59.60 Increased By ▲ 1.02 (1.74%)
OGDC 183.00 Increased By ▲ 1.75 (0.97%)
PAEL 26.25 Increased By ▲ 0.55 (2.14%)
PIBTL 5.97 Increased By ▲ 0.14 (2.4%)
PPL 146.70 Decreased By ▼ -1.70 (-1.15%)
PRL 23.61 Increased By ▲ 0.39 (1.68%)
PTC 16.56 Increased By ▲ 1.32 (8.66%)
SEARL 68.30 Decreased By ▼ -0.49 (-0.71%)
TELE 7.23 Decreased By ▼ -0.01 (-0.14%)
TOMCL 35.95 Decreased By ▼ -0.05 (-0.14%)
TPLP 7.85 Increased By ▲ 0.45 (6.08%)
TREET 14.20 Decreased By ▼ -0.04 (-0.28%)
TRG 50.45 Decreased By ▼ -0.40 (-0.79%)
UNITY 26.75 Increased By ▲ 0.35 (1.33%)
WTL 1.21 No Change ▼ 0.00 (0%)
BR100 9,806 Increased By 37.8 (0.39%)
BR30 29,678 Increased By 278.1 (0.95%)
KSE100 92,304 Increased By 366.3 (0.4%)
KSE30 28,840 Increased By 96.6 (0.34%)

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.