Deutsche Boerse cancels DAX expansion event due to COVID situation

September 13, 2021

FRANKFURT (Reuters) – German stock market operator Deutsche Boerse said on Monday it had cancelled a Sept. 20 event to celebrate the planned expansion of the country’s benchmark DAX index, citing a rising numbers of coronavirus infections.

“We have realised that due to the significant increase in COVID-19 infections in the Rhine-Main metropolitan area, the time may not yet be right for such a wider, in-person gathering convening Index members, investors and media from across Germany,” the company said.

“The health of our guests, colleagues and employees takes priority.”

The cancellation comes a day after the end of the IAA Munich car show, which drew 400,000 visitors and took place under stricter security to prevent the spread of the virus.

The number of confirmed coronavirus cases in Germany increased by 5,511, data from the Robert Koch Institute (RKI) for infectious diseases showed on Monday, an increase of 762 compared to Monday last week.

This month, Deutsche Boerse unveiled the largest overhaul of the DAX, Germany’s blue-chip index, in its 33-year history, most notably an increase in the number of constituents to 40 from 30 effective Sept. 20.

The index counts global heavyweights as members such as Volkswagen, SAP, Daimler, BMW and Siemens.

(Reporting by Christoph Steitz; Editing by Edmund Blair)

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