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Business

Continental to Join DAX, MLP Ejected

Continental, the world's fourth-largest tire-maker, will rejoin the DAX index of Germany's 30 leading companies after a seven-year hiatus on September 22. The company's stock rose slightly on Wednesday after the German stock exchange Deutsche Börse decided to promote the Hannover firm Tuesday evening. Analysts had predicted Continental's admission to the index. The company beat out Internet service provider T-Online and consumer goods maker Beiersdorf, which were also considered candidates for the DAX. Although the three firms represent a similar amount of exchange transactions, Continental had a higher market capitalization than the others, a Deutsche Börse spokesman said. The Heidelberg financial services broker MLP will have to leave the index.