Covestro shares retain listing on top German stock index / Wacker Chemie returns to MDAX
Bullish news from the Frankfurt Stock Exchange for Covestro and Wacker Chemie (Photo: Deutsche Boerse)
Plastics group Covestro (Leverkusen / Germany; will continue to be part of the DAX 30 index of German blue chip stocks, according to a 3 September statement from German stock exchange operator Deutsche Boerse. The news ends speculation about its possible removal. Covestro joined the top 30 companies on the German exchange on 19 March 2018 (see of 09.03.2018). The successor company to Bayer MaterialScience (see of 08.10.2015), Covestro had been a member of the MDAX since the end of 2015.

Wacker Chemie (Munich / Germany;, a supplier of silicones among other things, has returned to the MDAX index after an absence of about a year. The MDAX encompasses 60 companies that rank immediately below the 30 DAX stocks.

Despite the good news from the Frankfurt-based exchange, both companies have recently reported significant losses. At Covestro, it is primarily the polyurethanes business that has been hard hit by Covid-19 (see of 27.07.2020). Wacker had already reported substantial losses and the elimination of 1,000 jobs – primarily in Germany – prior to the pandemic (see of 26.02.2020).
11.09.2020 [245879-0]
Published on 11.09.2020
Covestro: Kunststoffkonzern bleibt im DAXGerman version of this article...

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