Siemens Energy: stock to be included in DAX index
(CercleFinance.com) - Just a few months after its IPO, Siemens Energy will be integrated into the DAX, the flagship index of the Frankfurt Stock Exchange, Deutsche Boerse announced Wednesday evening.
The former energy subsidiary of Siemens will join the reference index as from 22 March, replacing Beiersdorf cosmetics group, a decision that shows the increasing weight of companies related to the energy transition within the European Stock Exchanges.
Siemens Energy made its first steps on the stockmarket last September in the wake of its split from the industrial conglomerate Siemens a few months earlier.
Although this change should force index funds to buy the stock in order to replicate the performance of the DAX, the Siemens Energy stock is actually down about 2% on Thursday morning. Even so, it has risen by over 20% over the last three months.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
The former energy subsidiary of Siemens will join the reference index as from 22 March, replacing Beiersdorf cosmetics group, a decision that shows the increasing weight of companies related to the energy transition within the European Stock Exchanges.
Siemens Energy made its first steps on the stockmarket last September in the wake of its split from the industrial conglomerate Siemens a few months earlier.
Although this change should force index funds to buy the stock in order to replicate the performance of the DAX, the Siemens Energy stock is actually down about 2% on Thursday morning. Even so, it has risen by over 20% over the last three months.
Copyright (c) 2021 CercleFinance.com. All rights reserved.