Delivery Hero Seen Leaving Germany's DAX Index in Reshuffle [Business News Network (BNN) (Canada)]
BEIERDORF AG UNSP/ADR (BDRFY)
NASDAQ:AMEX Investor Relations:
beiersdorf.com/investors/overview
Company Research
Source: Business News Network
The food-delivery company probably will be replaced by Beiersdorf AG, the maker of Nivea skin cream which would re-enter the DAX just one quarter after getting kicked out, according to JPMorgan Chase & Co. analyst Pankaj Gupta. The change would represent a step back in the DAX's attempt to transform itself into an index that houses more modern and growth-focused companies. The benchmark moved in that direction in September, when it expanded to 40 stocks from 30 to include more highly valued companies such as online retailer Zalando SE and food-delivery firm HelloFresh SE. Shares of both companies are down almost 50% this year. A subsequent quarterly review saw the DAX tilt back toward old-economy stocks including Daimler Truck Holding AG and insurer Hannover Re. The index has declined 8.8% including dividends in 2022, underperforming the Stoxx Europe 600 Index's 7.6% loss with dividends. For Delivery Hero, the exclusion could deal another blow to its stock at a time when the co
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