Deutsche Börse caps Volkswagen to 10%
In an extraordinary move the German stock exchange yesterday decided to cap the weighting of Volkswagen shares in the Dax index to 10%, after threatening to drop the shares from the Dax completely.. The decision comes on the backdrop of erratic price movements — VW’s weight in the Dax was 27% on Tuesday — driven by Porsche’s takeover plans. Hedging trades around Volkswagen made it the largest listed company by market cap yesterday, overtaking Exxon. What effect doest the cap have? Read EuroWeek on Friday.
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