Osram, Evonik, RTL join MDAX following Frankfurt debuts

Wed Sep 4, 2013 5:24pm EDT

Related Topics

* Osram, Evonik, RTL replace BayWa, Puma, SGL on MDAX

* K+S retains spot on DAX after recent stock recovery

* CompuGroup, Nemetschek replace Euromicron, Suess on TecDAX

* BayWa, Puma, SGL, Kion, Deutsche Annington join SDAX

FRANKFURT, Sept 4 (Reuters) - Germany's Osram Licht AG , Evonik Industries and RTL Group will be added to Germany's mid-cap index MDAX following their flotation on the Frankfurt stock exchange earlier this year.

Stock exchange operator Deutsche Boerse said late on Wednesday that the three stocks would replace conglomerate BayWa, sporting goods maker Puma and carbon fibre specialist SGL, which will move to the SDAX small-cap index.

The index changes will become effective on Sept. 23.

Osram was spun off of engineering conglomerate Siemens in July, and its shares have since gained almost 30 percent. RTL has gained about 38 percent since its April debut in Frankfurt, while Evonik has declined around 16 percent.

Large-cap K+S, meanwhile, retained its place in Germany's blue-chip index, even though the salt miner had early last month looked set to drop out on expectations of a massive slump in the price of potash, its main product and a key fertiliser mineral.

Russian miner Uralkali said on July 30 that potash prices could fall by more than 25 percent as it abandoned an export pact with Belarussian partner Belaruskali, one of the world's two big potash-exporting cartels.

Even though frictions between the two former Soviet neighbors have escalated, hopes that the cartel can eventually be mended have shored up the price of K+S stock in recent weeks.

CompuGroup Medical and Nemetschek will join the TecDAX, while Euromicron and Suess MicroTec will leave it.

Forklift truckmaker Kion and property firm Deutsche Annington, which also floated on the stock exchange recently, will join the SDAX.

Along with BayWa, Puma and SGL, they will replace insolvent home improvement retail chain Praktiker, RTL, SKW Stahl-Metallurgie, Highlight Communications and SMT Scharf.

Deutsche Boerse said its next index review would take place on Dec. 4.

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