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In a blow to the German carmaker, Stuttgart-based sports car manufacturer Porsche AG has been selected to leave Germany’s leading stock index, the DAX.
It will be replaced by online marketplace Scout24 SE, said Deutsche Börse subsidiary ISS Stoxx on Wednesday.
The change will come into effect on 22 September.
The DAX index tracks the performance of the 40 biggest companies listed on the Frankfurt Stock Exchange, and is usually seen as the barometer to check the health of the German economy.
Companies making up the index have to fulfil certain minimum quality and profitability requirements to make the cut.
Porsche AG, part of the Volkswagen Group, went public at the end of September 2022, in what…
