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Money MARKETS-Lufthansa flies out of the Dax

01:10  05 june  2020
01:10  05 june  2020 Source:   xml.zeit.de

State aid: The state joins Lufthansa

 State aid: The state joins Lufthansa © David Ramos / Getty Images The state is expected to join Lufthansa as the largest single shareholder. The federal government saves the airline with a billion dollar package. The talks are nearing completion - and the EU wants to make flying possible again. The state joins Lufthansa The state is expected to return more than 20 years after the complete privatization of Lufthansa as the largest single shareholder in the financially stricken airline.

While changes to the membership of the DAX are typically only made once a year, companies that suffer heavy losses to their value can be kicked out “Implications for Lufthansa ’s equity value from the support package, on top of the existing net debt and pension liabilities, are weighing on sentiment

While changes to the membership of the DAX are typically only made once a year, companies that suffer heavy losses to their value can be kicked out "Implications for Lufthansa 's equity value from the support package, on top of the existing net debt and pension liabilities, are weighing on sentiment

Frankfurt, Jun 04 (Reuters) - With Lufthansa, the third Dax founding member descends from the first German stock exchange league within two years. The airline, which has become troubled by the corona virus crisis, will be replaced by the real estate company Deutsche Wohnen from the MDX small cap index, as Deutsche Börse announced on Thursday. Since 2018, Commerzbank and Thyssenkrupp have had to say goodbye to the Dax.

Lufthansa was hit hard by the Corona crisis, since passenger air traffic worldwide almost completely collapsed due to travel restrictions. The German state protects it from bankruptcy with up to nine billion euros in financial aid. Since the beginning of the year, the share price has plummeted by more than 40 percent - never in the company's history has it gone so steeply in less than half a year. "It hurts, we are a founding member of the Dax," said Lufthansa CEO Carsten Spohr this week in view of the upcoming decision. But in a situation in which the company had to be stabilized by the state, the question Dax-30 or MDax was not relevant. "It's a pity," said Spohr.

Lufthansa flies out of the Dax

 Lufthansa flies out of the Dax As if Lufthansa did not already have enough problems - now the founding member of the Dax is also losing its place in the first German stock exchange league. © Photo: Boris Roessler / dpa Decommissioned Lufthansa aircraft. From June 22, the airline will be listed in the MDax of medium-sized stocks. Deutsche Börse announced this during the regular review of its stock indices. Lufthansa is being replaced in the German share index by the Berlin real estate group Deutsche Wohnen.

Lufthansa has pledged a wide-ranging restructuring, from job cuts to sales of non-core assets, as it seeks to repay a 9 billion euro (.1 billion) state bailout and navigate deepening losses in the face of the coronavirus pandemic. The group, which includes Swiss, Austrian Airlines and Brussels Airlines.

Lufthansa , which had grounded almost all its aircraft at the height of the coronavirus pandemic, confirmed a loss before interest and tax of 1.2 billion euros during the first three months of the year, first reported in April. The airline is bracing for a significant decline in 2020 earnings before interest and tax

The Deutsche Pfandbriefbank has to take its hat off in the MDax, Deutsche Börse further announced. The advertising space marketer Ströer takes its place. The chip company Elmos Semiconductor and the financial service provider MLP fall out of the SDax index for small stocks. The Bavarian UV technology manufacturer Dr. Hönle and the provider of personnel management software, Atoss Software, replaced. The changes will take effect on June 22. (Reporter: Hakan Ersen, Ilona Wissenbach, edited by Birgit Mittwollen, edited by Christian Rüttger. If you have any questions, please contact the editorial team on telephone numbers 069 - 7565 1236 or 030 - 2888 5168.)

EXCHANGE TICKER video game maker GameStop weaker by numbers .
Jun 10 (Reuters) - This is followed by the stock market ticker on important price movements on the international financial markets and their causes: 1:10 p.m. - A quarterly loss scares investors at GameStop. The video game retailer's shares are down seven percent in pre-exchange US business. In the first quarter, the group slipped lower than expected and posted a loss of $ 1.61 per share. GameStop also disappointed the analysts in terms of sales.

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