Siemens Energy Shares Rise After Group Readded to DAX Index

  • Investing.com
  • Stock Market News
Siemens Energy Shares Rise After Group Readded to DAX Index
Credit: © Reuters.

By Scott Kanowsky 

Investing.com -- Shares in Siemens Energy AG (ETR: ENR1n ) jumped by more than 3% in afternoon European trading, after the company was once again promoted to Germany's DAX index.

In a statement, stock market operator Deutsche Boerse (ETR: DB1Gn ) said Siemens Energy - a spin-off of the gas and power division of Siemens Group - will enter the German blue-chip benchmark on September 19.

The DAX includes some of the biggest German listed companies based on factors like market value and profitability. A sweeping restructuring effort last year saw the number of firms on the index expanded to 40 from 30.

Siemens Energy will replace meal-kit delivery service HelloFresh SE (ETR: HFGG ), which will in turn drop into the mid-cap MDAX index. Shares in HelloFresh rose on Tuesday, but have fallen by 74.5% over the past one-year period as the group grapples with a post-pandemic slowdown in customer demand and increased competition.

Siemens Energy, which returns to the DAX after it was previously ousted in March, has a market value of €10.6B. Its shares are lower by more than 44% over the last year.

Add Chart to Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100
Please try another search