Volkswagen AG will be removed from the Dow Jones Sustainability Indices from Oct. 6 as a consequence of the car maker’s alleged cheating on emission-test data. “The [Dow Jones Sustainability Index Committee] reviewed the situation and ultimately decided to remove the Company from the DJSI World, the DJSI Europe, and all other DJSI indices,” S&P Dow Jones Indices said in a statement on Tuesday. “As a result, VW will no longer be identified as an Industry Group Leader in the ‘Automobiles & Components’ industry group,” it added. The move follows a deepening scandal over Volkswagen’s emission software in some of its diesel cars, which has allegedly been rigged to thwart U.S. pollution standards tests. Volkswagen shares were off 0.4% in Germany on Tuesday, deepening the year-to-date loss to 46%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News