Infineon (IFNNY)

[mlkrborn]

Thursday September 3, 09:54 PM
UPDATE 1-Infineon to join German top-30 DAX index

FRANKFURT, Sept 3 (Reuters) - Shares of German chipmaker Infineon (Xetra: 623100 - news) will rejoin Germany's blue-chip DAX (Xetra: news) stock market index, effective Sept 21.
In a written statement Frankfurt stock market operator Deutsche Boerse (Xetra: 581005 - news) said late on Thursday that Infineon will replace Hannover Re, the world's fourth-biggest reinsurer. Hannover Re previously knocked Infineon out of the index of Germany's 30 largest listed companies on March 23.

Deutsche Boerse did not comment on the possible exclusion of Volkswagen (Xetra: 766400 - news) ordinary shares, a constituent of the blue-chip index since 1987, which had been a talking point ahead of this year's review.

Such changes are important for many investment vehicles, notably exchange-traded funds (ETFs), whose holdings replicate an index.

Deutsche Boerse's index revisions are based on free-float market capitalisation and trading volumes. The DAX includes Germany's top-30 stocks by those measures.

In addition to the DAX rejig, the committee also decided to make the following changes, all taking effect Sept 21: