From March 22nd, the chip manufacturer will push the Finnish network equipment supplier out of the index. Varta has to leave Stoxx Europe 600, Shop Apotheke rises.
As expected by experts, the German chip manufacturer Infineon is replacing the Finnish network equipment supplier Nokia in the Eurostoxx 50. The index provider Qontigo justified the process in a message published late on Monday evening with the so-called fast-entry rule. A share must be on the index provider's selection list and there must be at least 25th place in terms of market value according to free float.
German companies are also affected by changes in the much larger Stoxx Europe 600. The pharmacy mail order company Shop Apotheke will be represented there in the future. Three companies from Germany have to leave the index: the battery group Varta owned by Austrian investor Michael Tojner, Adler Group and Telefonica Deutschland.
All changes will be implemented on March 22nd. They are particularly important for funds that precisely replicate indices (ETF). They then have to reallocate and rebalance their investments accordingly, which can have an impact on share prices.
