DAX

en.wikipedia.org/wiki/DAX

For other uses, see Dax (disambiguation).

DAX
performance
between 1959
and 2016

Foundation 1 July 1988

Operator Deutsche Börse

Exchanges Frankfurt Stock Exchange

Constituents 30

Type Large cap

Market cap €971.8 billion (Feb 28, 2017)[1]

Weighting method Capitalization-weighted

Related indices MDAX, SDAX, TecDAX, ÖkoDAX

Website DAX homepage

DAX

The DAX (Deutscher Aktienindex (German stock index)) is a blue chip stock market index
consisting of the 30 major German companies trading on the Frankfurt Stock Exchange.
Prices are taken from the Xetra trading venue. According to Deutsche Börse, the operator
of Xetra, DAX measures the performance of the Prime Standard’s 30 largest German
companies in terms of order book volume and market capitalization.[2] It is the equivalent
of the FT 30 and the Dow Jones Industrial Average , and because of its small selection it
does not necessarily represent the vitality of the economy as whole.

The L-DAX Index is an indicator of the German benchmark DAX index's performance after
the Xetra trading venue closes based on the floor trading at the Börse Frankfurt trading
venue. The L-DAX Index basis is the "floor" trade (Parketthandel) at the Frankfurt stock
exchange; it is computed daily between 08:00 and 17:45 Hours CET. The L/E-DAX index
(Late/Early DAX) is calculated from 17:45 to 20:00 CET and from 08:00 to 09:00 CET. The
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Eurex, a European electronic futures and options exchange based in Zürich, Switzerland
with a subsidiary in Frankfurt, Germany, offers options (ODAX) and Futures (FDAX) on the
DAX from 08:00 to 22:00 CET.

The Base date for the DAX is 30 December 1987 and it was started from a base value of
1,000. The Xetra technology calculates the index every 1 second since 1 January 2006.

1 Versions
2 Price history
3 Record values
4 Components
5 Former DAX components
6 See also
7 References
8 External links

Versions
The DAX has two versions, called performance index and price index, depending on
whether dividends are counted. The performance index, which measures total return, is the
more commonly quoted, however the price index is more similar to commonly quoted
indexes in other countries. There are two versions of futures contract available: FDAX (€25
per point) and FDXM (otherwise known as FDAX mini at €5 per point)[3].

Price history
On March 16, 2015, the performance index first closed above 12,000. [4] On April 10, 2015,
the price index first closed above its closing high from 2000. Regular analysis

Record values

Category All-time highs

Closing 13,559.60 Tuesday, January 23, 2018

Intraday 13,596.89 Tuesday, January 23, 2018

Components
A list of the current DAX companies, as of the quarterly review effective on 27 December
2018. Live prices are available on the Deutsche Boerse website.

Index
Prime Standard Ticker weighting
Company industry group symbol (%)1 Employees Founded

Adidas Clothing ADS 3.54 60,617 1924

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Allianz Insurance ALV 7.81 140,253 1890

BASF Chemicals BAS 7.98 113,830 1865

Bayer Pharmaceuticals BAYN 8.27 115,200 1863

and chemicals

Beiersdorf Consumer goods BEI 0.95 17,659 1882

and chemicals

BMW Manufacturing BMW 2.75 124,729 1916

Continental Manufacturing CON 2.38 220,000

Covestro Chemicals 1COV 1.28 16,200 2015

Daimler Manufacturing DAI 5.62 282,488

Deutsche Bank Banking DBK 1.73 99,744

Deutsche Börse Securities DB1 2.10 5,283

Deutsche Transport LHA 1.07 123,287

Lufthansa Aviation

Deutsche Post Logistics DPW 2.82 508,036

Deutsche Telekom Communications DTE 4.47 218,341

E.ON Energy EOAN 2.03 56,490

Fresenius Medical FRE 2.77 232,873

Fresenius Medical Medical FME 1.80 109,319

Care

HeidelbergCement Building HEI 1.11 60,000

Henkel Consumer goods HEN3 1.88 49,450

and chemicals

Infineon Semiconductors IFX 2.72 36,299

Technologies

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 Linde Industrial gases LIN 3.49 64,538

Merck Pharmaceuticals MRK 1.06 49,613

Munich Re Insurance MUV2 2.72 43,428

RWE Energy RWE 1.07 59,762

SAP Software SAP 10.56 96,000

Siemens Industrial, SIE 9.34 364,000

electronics

ThyssenKrupp Industrial, TKA 1.10 156,487

manufacturing

Volkswagen Manufacturing VOW3 2.88 626,715

Group

Vonovia Real estate VNA 1.85 7,437

Wirecard Financial WDI - 4,500 1999

Technology

^Note 1 : Weightings as at 27 December 2018 (remained unchanged from the previous quarterly review[5]).
Source: de:DAX.

Former DAX components

This table lists former DAX components and the
companies which replaced them.

DAX 30 chart at the Frankfurt Stock

Exchange.

A BMW Z4.

Date Component excluded Component included Reason for exclusion/ Comments

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03.09.1990 Feldmühle Nobel Metallgesellschaft Takeover of Feldmühle Nobel by
Stora Enso

Nixdorf Germany Preussag (now TUI) Merged with Siemens to form

Siemens-Nixdorf

18.09.1995 Deutsche Babcock SAP Inside a branch

Replaced by SAPof Metro's
because Real
of lower
hypermarket chain in
market capitalisation Würzburg.

22.07.1996 Kaufhof METRO Merger of Kaufhof and Metro Cash &

Carry

23.09.1996 Continental Münchener Rück Continental was added back to the

DAX on 22 September 2003, though it
was demoted again in 2008 and
added back again in 2012

18.11.1996 Metallgesellschaft Deutsche Telekom IPO of Deutsche Telekom

22.06.1998 Bayerische Hypotheken- adidas Merger of Vereinsbank and

und Wechselbank Hypobank to form
The RWE-owned HypoVereinsbank
Niederaussem Power
Station.
Bayerische Vereinsbank HypoVereinsbank

21.12.1998 Daimler-Benz DaimlerChrysler Merger of Daimler-Benz with

(now Daimler) Chrysler

22.03.1999 Degussa Degussa-Hüls Merger of Degussa AG with Hüls AG

and renaming to Degussa-Hüls AG

25.03.1999 Thyssen ThyssenKrupp Merger of Thyssen and Krupp

20.09.1999 Hoechst Fresenius Medical Care Merger of Hoechst and Rhône-

Poulenc with Aventis

14.02.2000 Mannesmann Epcos Takeover of Mannesmann by

Vodafone

19.06.2000 Veba E.ON Merger of Veba and Viag to form

E.ON
VIAG Infineon
The headquarters of DAX companies.
18.12.2000 Degussa-Hüls Degussa Merger of Degussa-Hüls AG and
SKW Trostberg AG to new Degussa
AG

19.03.2001 KarstadtQuelle Deutsche Post IPO of Deutsche Post

23.07.2001 Dresdner Bank MLP Vz. Takeover of Dresdner Bank by

Allianz

23.09.2002 Degussa Altana Inadequate market capitalisation

23.12.2002 Epcos Deutsche Börse Fast-exit of Epcos, as Epcos' market

capitalisation became inadequate.[6]

22.09.2003 MLP Continental Inadequate free float and market

capitalisation.

31.01.2005 Lanxess Lanxess was spun off from Bayer. It

was added to the DAX in 2012 and
01.02.2005 Lanxess removed in 2015.

19.12.2005 HypoVereinsbank Hypo Real Estate Takeover of HypoVereinsbank by

UniCredit

18.09.2006 Schering Postbank Takeover of Schering by Bayer

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18.06.2007 Altana Merck After the sale of Nycomed,
inadequate market capitalisation[7]

22.09.2008 TUI K+S Fast-entry of K+S, inadequate

market capitalisation of TUI[8]

22.12.2008 Continental Beiersdorf Fast-exit of Continental because of

inadequate free-float market
capitalisation after the acquisition
by Schaeffler Group

22.12.2008 Hypo Real Estate Salzgitter Fast-exit of Hypo Real Estate

because of inadequate free-float
market capitalisation after a stake
by American investor JC Flowers, as
well as huge decline in market
capitalisation during the Financial
crisis of 2007–2010

23.03.2009 Deutsche Postbank Hannover Re Fast-exit due to inadequate market

capitalisation [9]
Infineon Technologies Fresenius Vz

21.09.2009 Hannover Re Infineon Technologies Inadequate market capitalisation

21.06.2010 Salzgitter HeidelbergCement Inadequate market capitalisation

24.09.2012 MAN Continental Inadequate free-float capitalisation

after acquisition by Volkswagen

24.09.2012 Metro Lanxess Inadequate market capitalisation

21.09.2015 Lanxess Vonovia Inadequate market capitalisation

21.03.2016 K+S ProSiebenSat.1 Media Inadequate market capitalisation

19.03.2018 ProSiebenSat.1 Media Covestro Inadequate market capitalisation

24.09.2018 Commerzbank Wirecard Inadequate market capitalisation

See also
CDAX, every listed German company
HDAX, union of DAX, MDAX and TecDAX (successor to DAX 100, and equivalent of
the FTSE 100 or the S&P 100)
MDAX, the top 50 companies after the DAX
ÖkoDAX, top 10 companies in renewable energy
SDAX, the next 50 companies
TecDAX, top 30 companies trading in the "new economy"

References

External links

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