Tank gearbox maker Renk moves into Germany's MDAX mid-cap index

flatexDEGIRO SE

06/03/2025 06:53

By Paolo Laudani

March 6 (Reuters) - Tank gearbox maker Renk R3NK.DE will be included in the German MDAX mid-cap index .MDAXI, replacing Siltronic WAFGn.DE, with changes becoming effective on March 24, index provider STOXX said on Wednesday in its latest review

In February, analysts said the firm could qualify for the "fast entry" rules thanks to a strong share price performance this year.

The review on the basis of the fast entry rules aims to account for significant changes, such as free-float market capitalization, and should be rapidly reflected in the index, STOXX said in the guidelines on its website.

Shares in Renk, whose transmissions are used in Leopard 2 tanks, rose 103% this year as a changed attitude in Washington towards European security is pushing countries in the continent to reconsider their defence spending..

Analysts see the MDAX as the biggest beneficiary of the German elections outcome, due to its heavier exposure to the domestic market than the DAX blue chips index .GDAXI.

STOXX also said online broker Flatexdegiro FTKn.DE and Deutsche Bank's DBKGn.DE asset manager DWS Group DWSG.DE  will be included in the index.

Semiconductor material supplier Siltronic WAFGn.DE, Schott Pharma 1SXP.DE and financial services provider Hypoport HYQGn.DE have been demoted to the SDAX small-cap index .SDAXI, with no changes made to the DAX, STOXX added.

 (Reporting by Paolo Laudani in Gdansk, Editing by Rachel More and Miranda Murray)

 ((Paolo.Laudani@thomsonreuters.com;))