DIn all probability, Commerzbank will return to the Dax on February 27th. This emerges from data from Deutsche Börse, which it published on Friday evening after the American stock exchange closed. In the stock market rankings that have now been published for the month of January, Commerzbank ranks 33rd in terms of the stock market value of its freely tradable shares, making it the best-ranked non-Dax group on the list.
Since the gas group Linde – currently the most valuable company in the Dax – is withdrawing from the Frankfurt Stock Exchange and only wants to be listed in New York, a place in the Dax will be free on February 27th. According to stock exchange rules, it is filled with the most valuable company on the most recent ranking list that is not yet listed in the Dax and meets all the basic criteria.
This was the exciting question at Commerzbank until the very end. According to the stock exchange rules newly introduced in 2021, a climber in the Dax must have been profitable for the last two financial years. Since Commerzbank still made a loss in 2020, it was only able to show a profit for the 2021 financial year at the beginning of the week.
Commerzbank is now officially considered profitable again
On Monday, she hurriedly presented her business figures for 2022 with a profit in order to still meet the conditions of the stock exchange. However, Deutsche Börse did not want to be determined as to whether the figures presented on January 30 came early enough to be included in the ranking. This is also not evident from the freely available ranking list published on Friday evening. When asked, however, the stock exchange announced that Commerzbank was freed from the word “No” in the fulfillment of the profit criterion in good time for the basic criteria.
For Commerzbank, a founding member of the Dax in 1988, a sensitive setback is made good again. In September 2018 she had to leave the Dax and was pushed out by the Bavarian payment processor Wirecard. At that time it was said that the new, fast, digital financial world was pushing out an old branch bank on the decline. Wirecard is now insolvent and the Commerzbank share price has recovered from its low of EUR 2.88 in May 2020 to more than EUR 10.
With a market value of the freely tradable shares of a good 10 billion euros, Commerzbank is only a very small consolation for the Frankfurt stock exchange, since with Linde a group with a market value of 150 billion euros is leaving the index and the financial center. Exchange-traded index funds (ETF) will soon have to make the corresponding shifts. Linde’s weight in the Dax is almost 10 percent, Commerzbank will come to less than 1 percent. Accordingly, the remaining 39 Dax stocks in the ETF will all have to be upgraded somewhat. Above all, SAP, the most valuable group in the Dax, will benefit from this.
Officially, the stock exchange will only announce the successor to Linde in the Dax on the evening of February 17th. However, since the January ranking list that has now been published will form the basis of the decision, there should be no way around Commerzbank unless something out of the ordinary such as a sudden takeover intervenes. The Düsseldorf-based arms manufacturer Rheinmetall, which would have been promoted to the Dax if Commerzbank had failed in the profitability criterion, is now at a disadvantage, which it prevented by presenting the business figures earlier than originally planned – and the stock exchange had some discussions about weapons saved in the Dax.