NEW YORK (dpa-AFX) – According to JPMorgan, Bank Nordea (Nordea AB) is currently the top candidate for inclusion in the EuroStoxx 50 (EURO STOXX 50) in September. The reason is that the index provider Stoxx changed the nationality of the Nordic bank from Sweden to Finland last year. “On the basis of the stock market value based on free float, Nordea is ranked 34th and is therefore a top contender for inclusion in the leading index of the euro zone“when this is routinely checked again in the fall, writes analyst Pankaj Gupta in a study published on Tuesday evening.
Deutsche Börse subsidiary Qontigo/Stoxx will announce the results of its annual index review on Thursday, September 1 after the close of trading. Any changes will come into effect on Monday 19 September. The rules of the index review include, among other things, that non-members of the EuroStoxx who are on the ranking list for the month of August are included with a ranking of 40 or below.
Another possible candidate for admission is the Spanish telecom company Telefonica, which is currently in 40th place. If she stays there or can improve by the deadline of August 31, she will probably be included. According to Gupta, the energy supplier RWE and the Dutch IT service provider Wolters Kluwer also have certain opportunities.
The Irish online gambling company Flutter (Flutter Entertainment), on the other hand, should – as of now – have to leave the index in favor of Nordea. The elevator manufacturer Kone and the medical technology manufacturer Philips are also at risk of relegation.
At the same time, the JPMorgan expert qualifies that there is still a while to go before the review at the end of August, so that the placements can still “change significantly” in individual shares due to price movements or company actions./ck/stw
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