Food deliverer Delivery Hero drops out of Germany’s blue chip index

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FILE PHOTO: The Delivery Hero headquarters is pictured in Berlin

BERLIN (Reuters) – Food deliverer Delivery Hero will drop out of Germany’s blue chip stock index DAX replaced by consumer goods maker Beiersdorf from June 20, stock market operator Deutsche Boerse said on Friday.

Just over a year after being relegated from the DAX, the Nivea cream maker and Hansaplast wound care Beiersdorf replaces Delivery Hero <DHER.DE >nicht, Deutsche Boerse said.

“For years, Delivery Hero has been writing losses and basically doesn’t operate any business or service in Germany it self,” Oldenburger said.

However, there had been long discussions about the food delivery company’s DAX suitability, said CMC Markets analyst Konstantin Oldenburger.

(Reporting by Zuzanna Szymanska; editing by Diane Craft)

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