BERLIN, Sept. 20 (Xinhua) -- Thirty-three years after the DAX was launched, Germany's main blue-chip index was expanded on Monday to begin trading with 40 companies instead of the usual 30.
Among the most prominent new additions is German-French aircraft manufacturer Airbus, which has a high stock market value similar to that of carmaker Daimler, or insurance group Allianz.
Another new addition, Porsche Holding SE, is an exception among DAX members as it is a pure holding company with only 35 employees that does not generate any revenues itself. The company's voting majority in carmaker Volkswagen alone gives it a high stock market value.
Market capitalization of free float over the last 20 trading days in August was the key criterion in the selection. Trading volumes, on the other hand, no longer play a direct role, according to stock operator Deutsche Boerse.
In order to reduce the predominance of the so-called old economy, the DAX was diversified by including emerging online companies Hellofresh and Zalando. Both companies experienced strong growth despite COVID-19.
Also new to the DAX are chemicals trader Brenntag, sporting goods manufacturer Puma, biotechnology and diagnostics company Qiagen, pharmaceutical and laboratory supplier Sartorius, medical technology group Siemens Healthineers and flavors and fragrances manufacturer Symrise.
Deutsche Boerse had already announced the new lineup at the beginning of September. The MDAX, Germany's second tier index, was reduced from 60 to 50 listed stocks. Enditem