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(Bloomberg) -- Germany’s flag carrier is being removed from the country’s benchmark stock index for the first time since the gauge’s inception more than three decades ago, after travel restrictions aimed at stemming the coronavirus pandemic sent the stock plunging.Deutsche Lufthansa AG will be replaced by real estate company Deutsche Wohnen AG in the DAX Index, Deutsche Boerse said in a statement Thursday night. The change will come into effect June 22.Shares in Lufthansa, which this week agreed to a 9 billion euro ($10 billion) state bailout package, have fallen 38% this year, giving the airline a market capitalization of about 4.9 billion euros. That makes it the 60th largest German company by market value, while the DAX is reserved for the country’s 30 biggest companies.The first half has been a tumultuous one for the German carrier, with the pandemic all but halting its business. Its massive size -- with operations...
(Bloomberg) -- New Jersey allowed nonessential businesses to reopen on June 15, and New York Mayor Bill de Blasio said he hoped city restaurants could begin outdoor dining in July, more signs that the regional economy is slowly emerging from a three-month lockdown.The U.S. is developing a test that can simultaneously check for seasonal influenza and Covid-19, a tool that could help health authorities more efficiently determine whether there is a second wave of coronavirus later this year.AstraZeneca signed a deal to support Oxford University’s coronavirus vaccine. Iran reported its highest number of daily cases, while Mexico and Brazil each had a record increase in deaths.China will ease its ban on foreign airlines starting Monday and lessen quarantine requirements for official and business travelers, while Japan debated scaling back next year’s Summer Olympics.Key Developments:Virus Tracker: Cases pass 6.5 million; deaths exceed 387,000NYC stores can reopen on Monday. Many of the biggest...
High-flying DraftKings (NASDAQ: DKNG) finally has a home in an exchange-traded fund and investors finally have a way of accessing the fast-growing sports betting market in an umbrella fashion with today's debut of the Roundhill Sports Betting & iGaming ETF (NYSE:BETZ).What To KnowThe Roundhill Sports Betting & iGaming ETF debuts on the day that marks the first birthday of Roundhill's first ETF: the Roundhill BITKRAFT Esports & Digital Entertainment ETF (NYSE: NERD).Like its older stablemate, BETZ is appropriately tickered and addresses a high-growth market highly attractive to younger players and investors.BETZ tracks the Roundhill Sports Betting & iGaming Index and in the "fun fact" column, that benchmark allocates just over 7% of its weight to DraftKings. The online sportsbook company went public on April 24 and BETZ is its first ETF home of note.Why It's Important BETZ debuts as analysts are dramatically increasing their forecasts for the iGaming and sports wagering...
Airline stocks are climbing on Thursday as American Airlines boosted its domestic flights for the summer. Yahoo Finance's Kristin Myers and Emily McCormick discuss. ...
A soaring stock market amid economic devastation makes no sense. Here's why it's happening....
