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Good morning. Germany’s DAX is getting an upgrade, there’s key U.S. jobs data and a political upset in Japan. Here’s what’s moving markets.
Germany’s prime equity index is about to undergo the biggest makeover since its inception in the late 1980s. After the introduction of a profitability requirement and other quality checks in the wake of Wirecard’s explosive exit from the index, tonight operator Deutsche Boerse is set to announce which 10 companies will ascend to the venerable benchmark that’s being expanded to 40 stocks. Candidates range from Airbus to Zalando and are expected to increase the DAX’s total market value by about 350 billion euros.