Handelsblatt editor Andrea Cunnen has dealt with the consequences of Linde’s withdrawal from the Frankfurt Stock Exchange.
Frankfurt Lightweight instead of heavyweight: At the end of February, Commerzbank replaced Linde shares in Germany’s leading index, the Dax. After much back and forth, the world’s largest industrial gases manufacturer decided that its shares should only be listed on Wall Street.
For Germany as a financial centre, this is seen as a major setback. Linde’s decision to withdraw from Deutsche Börse shows once again “how insignificant the German financial market and German investors have become in comparison,” complained capital market strategists such as Philipp Vorndran from the fund company Flossbach von Storch.
On closer inspection, however, the whole thing is not so bad for the Dax as the leading index, on the contrary: Sven Streibel, chief stock strategist at DZ Bank, has now done the calculations and even sees the leading index without Linde as “the better Dax”.
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