Once an icon of German industry, steel company ThyssenKrupp has suffered another heavy setback. It was ousted from the Dax, the index of German blue chips, owing to poor economic performance. Last week's development was significant as it also symbolises the decline of a whole industry.
The Dax measures the economic potential of German companies listed on the stock exchange, mainly looking at trading volume and market capitalisation. Companies that make it to the list are considered heavyweights. Thyssen has been part of the Dax since it was established in 1988, first as itself and then as ThyssenKrupp after its merger with Krupp in 1999.