|Bid||1.4592 x 37100|
|Ask||1.4800 x 20900|
|Day's Range||1.3950 - 1.5390|
|52 Week Range||1.0802 - 159.8000|
|Beta (5Y Monthly)||0.02|
|PE Ratio (TTM)||0.37|
|Earnings Date||Nov 05, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Jun 19, 2019|
|1y Target Est||205.49|
(Bloomberg) -- Deutsche Boerse AG will remove Wirecard AG from its benchmark DAX index ahead of a regular quarterly reviewfollowing the collapse of the payments company amid allegations of accounting fraud.The decision was taken following consultations with market participants conducted after Wirecard declared insolvency in June. The results favored immediate removal of bankrupt companies from the index, rather than waiting for the review.Delivery Hero AG is seen as the most likely candidate to take the spot among Germany’s most valuable companies, according to the latest index ranking list.“According to the new rules, insolvent companies shall be removed from the DAX Selection Indices with two trading days’ notice,” Deutsche Boerse said in a statement late Wednesday. Wirecard’s successor will be announced on Aug. 19, with the changes taking effect from Aug. 24.Delivery Hero’s stock hit a record high in July as virus-induced lockdowns sparked increased demand for its food delivery services. The possibility of the company joining the DAX is seen as controversial among some market participants, as it has yet to report an annual profit. That raises questions about the suitability and sustainability of including it alongside heavyweights such as Siemens AG and SAP SE.Irrespective of the current change in the rules for dealing with insolvent companies, an in-depth review of the DAX rules will be conducted, Deutsche Boerse said. For this purpose, another extensive market consultation will be launched, with results expected by the end of the year.Wirecard filed for insolvency after admitting that almost 2 billion euros ($2.4 billion) in previously reported cash didn’t exist. The scandal has continued to widen and threatens to engulf top politicians, regulators and auditors.In the latest twist, German federal police on Wednesday launched a manhunt for Wirecard’s former chief operating officer Jan Marsalek. Marsalek was also added to Interpol’s wanted list.Separately, Philippine investigators recommended that two immigration officers be charged for allegedly falsifying Marsalek’s travel records.Immigration records on his supposed arrival and departure on June 23 and 24 respectively were “both spurious” and were made “in order to divert the attention of authorities in Europe to focus attention in the Philippines,” the National Bureau of Investigation said.(Updates with details on delivery hero starting in third paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Exchange operator Deutsche Boerse <DB1Gn.DE> will remove Wirecard <WDIG.DE>, the payments company that folded after an accounting scandal, from the DAX index of Germany's leading blue-chip stocks this month following an index rule change. The exchange operator on Wednesday said it had opted for new rules - which were proposed last month - to allow for a DAX removal within two days in the case of an insolvency. In 2018 Wirecard, at the time a rising technology star, was promoted to the DAX index of 30 leading companies, displacing Commerzbank <CBKG.DE>.
German prosecutors appealed on television on Wednesday for help in tracking down Jan Marsalek, a former boss of collapsed payments company Wirecard, and issued a wanted notice for a manager they suspect of embezzling billions of euros. Charges were first brought against Marsalek in June 22, and his status as a suspect was widely known, but under Germany's extremely strict privacy laws, formally announcing he is a suspect and soliciting public help is a major step. Prosecutors said they believed he was outside Germany.