Market capitalisation and index inclusion
As a result of share price gains, METRO AG’s market capitalisation rose markedly, climbing to €9.6 billion at the end of September 2013 compared with €6.9 billion in December 2012. On a typical trading day on the Frankfurt stock exchange, the average volume of METRO shares traded totalled around 1.2 million shares (12M 2012: 1.6 million). This decline can be attributed to various developments: DAX-listed companies are traded by index funds. These funds make no notable investments outside of the DAX. In addition, trading volume on the Frankfurt stock exchange has generally fallen, and alternative trading platforms are becoming more popular. Approximately 8,000 shares of the less liquid preference shares were traded daily (12M 2012: around 3,000).
Despite a market capitalisation of nearly €10 billion, METRO AG is no longer a member of the German share index DAX 30. This is because Deutsche Börse, in accordance with its own rules and regulations, determines the index-relevant capitalisation solely on the basis of the free float. At the end of September 2013, market capitalisation of METRO AG’s free float totalled approximately €4.3 billion.
In Deutsche Börse’s index ranking, the METRO AG share ranked 32nd in terms of market capitalisation and 29th in terms of stock market trading volume as of the end of September 2013.
The METRO share is one of the MDAX’s biggest members in terms of market capitalisation and boasts the highest stock market trading volume. METRO AG remains a member of the industry index Dow Jones Euro STOXX Retail.