Daimler Truck, Hannover Rueck to Join German Benchmark Index
- Daimler Spin-Off joins Index just three months after listing
- Siemens Energy and Beiersdorf membership was short lived
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Daimler Truck Holding AG and insurer Hannover Re will be added to Germany’s benchmark stock index, bolstering the market’s exposure to old-school industries, while Nivea-maker Beiersdorf AG and Siemens Energy AG get kicked out.
Daimler Truck is joining the DAX Index three months after it was spun off from the automaker now called Mercedes-Benz Group AG. While the stock has fallen 20% since its listing, the company’s almost 29 billion euros in market value ($32 billion) is still among Germany’s biggest listed companies.