FRANKFURT (Reuters) -Shares of Porsche AG, the luxury sportscar maker majority-owned by Volkswagen, will leave Germany’s benchmark blue-chip index as of September 22, a unit of stock exchange operator Deutsche Boerse said on Wednesday.
In its regular DAX index reshuffle, Deutsche Boerse said that Porsche AG, which was a member of the DAX following its separate listing in 2022, would be replaced by Scout24, ISS STOXX Ltd said in a statement.
Porsche AG has been severely hit by U.S. import tariffs and weakening demand in key market China, causing its shares to drop by more than a third over the past twelve months, making it the second-worst decliner among Germany’s large-caps.
The company will become a member of the midcap index MDAX as a result of the DAX exit.
(Reporting by Christoph Steitz)
