Rheinmetall, manufacturer of some of the Leopard tanks expected by the Ukrainians, will integrate the German star index Dax, Frankfurt operator Deutsche Börse announced on Friday evening. It will replace Fresenius Medical Care, which specializes in dialysis.
The change “will be effective on March 20,” the operator said in its press release.
Since the Russian invasion of Ukraine more than a year ago, the arms industry has been booming. Shares of Rheinmetall have risen 190% since 2022 and for several months the group was seen as the best candidate for promotion to Dax due to the performance of its title.
However, he had to bow recently against the second German banking group Commerzbank which had stolen the show and had arrived before him on February 27 in Dax to replace the gas Linde.
Rheinmetall, which presents its annual results on March 16, has promised record profits. It is also counting on a doubling of its turnover by 2025 thanks to an increase in orders, particularly from Australia and Great Britain.
Led by Armin Papperger, an engineer by training who has spent his entire career within the group, Rheinmetall employs approximately 25,000 people at 133 production sites scattered around the globe. In 2021, the company, which manufactures both weapons and ammunition and electronic equipment, recorded a turnover of 5.7 billion euros.
The Stock Exchange regularly decides several times a year on the composition of its indices. The determining criterion for a place in an index is the market value of freely traded shares held by the public.
ATS