Report: Deutsche Bank to be removed from Euro Stoxx 50

Tuesday, 04. September 2018 10:40

Germany's largest lender, Deutsche Bank AG, will be removed from the pan-Eurozone index Euro Stoxx 50 this month, internal documents acquired by Bloomberg revealed on Tuesday. Two more companies are reportedly being removed as well, German-based European holding company E.ON SE and French multinational corporation Saint-Gobain S.A.

The removal comes after Deutsche Bank lost significant market value following management scandals and an announcement of more than 7,000 job cuts by the end of the year.

Meanwhile, Spanish Amadeus IT Group, Paris-based luxury group Kering S.A. and German chemical company Linde AG will reportedly be joining the index.

Related Links: Deutsche Bank AG
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Breaking the News / NI