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Our DAX turns 30

02 Jul 2018

Our DAX turns 30Reception on the trading floor to celebrate the anniversary

About 250 guests wished DAX a happy 30th birthday.

Deutsche Börse calculated the German economy’s benchmark index for the first time on 1 July 1988. It celebrated the 30th anniversary of the DAX with around 250 guests, including numerous executive board members from DAX family companies, in the Alte Börse’s trading hall. DAX founding fathers Manfred Zaß and Frank Mella, along with Theodor Weimer, took on the traditional ringing of the stock exchange bell – to celebrate the anniversary and not to open trading this time.

The CEO of Deutsche Börse previously held a high-spirited eulogy on the creation of the DAX: “Wise people say a good person has a heart at 20 and reason at 40. You are turning 30 years old today. And it is true – you cause our hearts to beat and sometimes even cause us to lose our reason.” The list of DAX members comprises the most well-known names in the German economy and every one of them deserves to be on that list”, Weimer continued, before concluding by wishing “that the DAX continue climbing to new heights”.

DAX – 30 years of strong development

 
The display board that normally tracks DAX index trading over the course of a day showed a 30-year DAX curve that morning – clear evidence of the level to which DAX stocks’ value has risen. Since its launch on 1 July 1988 at 1,163 points, Germany’s most important stock exchange barometer has risen more than tenfold, despite occasional setbacks such resulting from dot-com, 9/11 or the financial crisis. The DAX index reached its all-time high on 23 January 2018 at 13,596.89 points.

Development in the number of investors has not been quite as positive. Although investments in the DAX pay off, comparatively few private investors have directly benefitted from this success story. Despite the fact that DAX companies create wealth, many investors exclude the offer of participating more strongly in their performance. This was the basic message of Hans Joachim Reinke, Managing Director of Union Investment, who held the keynote speech. He believes the main reason behind German private investors’ weak interest in equities to be lack of financial literacy. “When it comes to generating income and young people tend to be more attracted to sports betting than stock investment, this should give us something to think about. We need to join forces on that.” At any rate, fund solutions have helped to make equities more accessible to a broader range of people, he noted.

Stephan Sturm, CEO of Fresenius, is giving his laudatory speech. To his left: Hans Joachim Reinke. In front of the speaker’s desk: Frank Mella (left) and Manfred Zass (right).

Stephan Sturm, chairman of the management board of Fresenius, then reported on the changes resulting from the health care group’s inclusion in DAX. Trading volumes and liquidity developed at a rapid pace due to increased attention, Sturm noted. The company’s admission to the DAX brought it new investor groups, for example, in the USA and Asia-Pacific. “The additional capital enabled us to better achieve our corporate goals, which is why we also congratulate DAX on behalf of patients cared for with our products and services.”

 

Video: Opening Bell Event in the trading hall

 

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