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The Düsseldorf-based company will replace dialysis specialist Fresenius Medical Care AG in the top German stock market league from 20 March. FMC then descends to MDax, the mid-cap stock index. Rheinmetall currently has a market capitalization of over 10.8 billion euros. The share price has nearly doubled since the Russian invasion of Ukraine a little over a year ago.
With around 29,500 employees, 15,000 of which are in Germany, Rheinmetall is the largest armament group in Germany. The company added employment over the past year. Business is booming. The economic positive outlook also stems from increased demand from other NATO and EU countries. Recently, a Rheinmetall spokesperson said that Russia’s attack on Ukraine “again caused stronger and faster demand”. “We have years of strong growth ahead of us.”
Companies in the weapons industry are also scrambling to join MDax: weapons electronics manufacturer Hensoldt is replacing biofuels manufacturer Verbio. In addition, the Jenoptik technology group replaces Software AG. Verbio and Software AG were transferred to SDax.
A few weeks ago Commerzbank returned to Dax. Commerzbank’s return was made possible by the withdrawal of gas producer Linde from the Frankfurt Stock Exchange.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
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