UPDATE 1-Fresenius, Hannover Re to join German DAX index

(Adds reason for DAX changes; mid-cap, technology, small-cap index changes)

FRANKFURT, March 4 (Reuters) – Shares of healthcare company Fresenius SE FREG_p.DE and reinsurer Hannover Re HNRGn.DE will join Germany’s blue-chip DAX stock market index .GDAXI, effective March 23.

Fresenius SE and Hannover Re will replace chipmaker Infineon IFXGn.DE and bank Deutsche Postbank DPBGn.DE, stock exchange operator Deutsche Boerse DB1Gn.DE said in a statement on Wednesday after a meeting of its index revision committee.

Such changes are important for many investment vehicles, notably exchange-traded funds (ETFs), whose holdings replicate an index.

Deutsche Boerse’s index revisions are based on free-float market capitalisation and trading volumes. The DAX includes Germany’s top-30 stocks by those measures.

“The exclusion of Infineon and Deutsche Postbank was based on the fast-exit rule, the shares do no longer fulfill the market capitalization requirements of the DAX index,” Deutsche Boerse said.

In addition to the DAX rejig, the committee also decided to make the following changes, all taking effect March 23:

* Mid-cap index <0#.MDAXI>:

In — Deutsche Postbank, Rational RAAG.DE, ElringKlinger ZILGn.DE

Out — Fresenius SE, Hannover Re, Aareal Bank ARLG.DE

* Technology index <0#.TECDAX>:

In — Infineon

Out — Manz Automation M5ZG.DE

* Small-cap index <0#.SDAXI>:

In — Aareal Bank, CeWe Color CWCG.DE

Out — Rational, ElringKlinger (Reporting by Peter Starck; editing by Richard Chang)

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