September 3, 2014 / 8:36 PM / 3 years ago

Deutsche Annington, Kion to join German MDAX index

FRANKFURT, Sept 3 (Reuters) - Real estate firm Deutsche Annington and forklift truck maker Kion will be added to Germany’s mid-cap index MDAX following their flotation on the Frankfurt stock exchange last year.

Stock exchange operator Deutsche Boerse said on Wednesday the two stocks would replace Rational, a maker of appliances for commercial kitchens, and carbon fibre specialist SGL Carbon, which will move to the SDAX small-cap index.

Shares in Deutsche Annington have gained about 41 percent since their stock market debut in July 2013, outperforming a 16 percent increase by the MDAX thanks to investor interest in Germany’s property market amid low investment yields in other asset classes such as government debt.

The value of shares in Kion, the world’s second-biggest maker of fork lift trucks after Toyota, has increased by 28 percent since its initial public offering (IPO) in June 2013.

The composition of the DAX index of Germany’s 30 biggest companies will remain unchanged, Deutsche Boerse said on Wednesday.

Some analysts had said ProSiebenSat.1 could replace potash miner K+S on the DAX index, which would have made it Germany’s first media group ever to join the blue-chip index.

Automotive and industrial supplier Stabilus and roofing company Braas Monier, which floated in May and June of this year, respectively, will join the SDAX, replacing wine seller Hawesko and plastics firm Balda.

Software group RIB Software will replace PSI on the technology index.

The index changes will become effective on Sept. 22. The next regular index review will be held on Dec. 3. (Reporting by Maria Sheahan; Editing by Angus MacSwan)

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