Teuton exchanges boot Kinowelt, VCL

Companies taken off Nemax 50, MDAX indexes

BERLIN — Already at rock bottom, share prices in troubled German film companies Kinowelt Medien and VCL Film + Medien saw little change Monday as they were respectively booted off the Nemax 50 and MDAX indexes as part of a cleanup effort by the Deutsche Boerse, Germany’s stock exchange.

Earlier this month, Kinowelt reported higher than expected half-year losses of $176 million. It is still trading on the Neuer Markt, which lists 300 media and high-tech companies. While company’s stock price saw a 15% drop on Monday, it was up again by nearly the same amount Tuesday to about 49¢.

VCL’s shares fell 4.2% to $1.25 on Monday but rose again to around $1.32. Company, which has production deals with Woody Allen and Francis Ford Coppola, has indicated it will soon be merging with an unnamed media company.

The MDAX is the Deutsche Boerse’s index for medium-sized companies.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Biz News from Variety

Loading