Metro Booted From DAX as ‘Concrete Shoes’ Drag Down Stock
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Metro AG, Germany’s biggest retailer, has spent much of the past four years trying to hive off department stores, supermarkets and other assets. With little to show for the effort other than a sinking stock price, the nation’s benchmark index today hived off Metro instead.
Metro’s shares have dropped 11 percent this year, meaning a company that was once the world’s third-largest retailer is no longer among the top 30 companies in Germany’s DAX Index by market value and exchange turnover.