Siemens Energy: stock to join DAX index soon
(CercleFinance.com) - Siemens Energy, the energy subsidiary of German industrial giant Siemens, will enter the DAX index on 19 September to replace HelloFresh, the index manager STOXX, owned by the stock exchange group Qontigo, announced yesterday evening.
The decision comes as Siemens Energy, hit by the difficulties of its wind power division Siemens Gamesa, has lost more than 35% of its stock market value since the beginning of the year.
However, at over 10.5 billion euros, its capitalisation is still significantly higher than that of HelloFresh, the pioneer of meal delivery, which is just 4.3 billion euros in comparison, after its own share price has been almost halved since 1 January.
The announcement of its forthcoming inclusion in the big league of the Frankfurt Stock Exchange, lifted Siemens Energy shares on Tuesday, with it up over 2.5% as a result.
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