Rheinmetall to Join Key European Stock Benchmark After Surge

Rheinmetall AG’s surging stock price has earned the tank and munitions maker a place in the euro area’s main stock benchmark.

The German company will replace Gucci owner Kering SA in the Euro Stoxx 50 benchmark as of June 20, index compiler Stoxx Ltd. said in an emailed notification. It will be the only pure-play defense name in the gauge, which counts Safran SA and Airbus SE among its members.