Volkswagen Dropped From Euro Stoxx 50 After €10 Billion Charge, Margin Cut

Volkswagen was removed from the Euro Stoxx 50 before trading began on Monday, September 21, 2026, after the index provider's annual review confirmed the change. Funds tracking the benchmark must now sell Volkswagen holdings, adding pressure to a stock already down roughly 30% this year. Stoxx replaced Volkswagen with Nokia and Engie; Wolters Kluwer was also dropped. The removal is mechanical—the index is weighted by free-float market value and Volkswagen's shrinking valuation fell below the threshold. Volkswagen traded near €76 after falling more than 6% since the previous Monday's open. On Friday, September 18, Volkswagen flagged around €10 billion in one-off charges and cut its 2026 operating margin forecast to no more than 1%, from 4%-5.5%, missing analysts' 4.1% estimate. More than €6 billion stems from a Porsche writedown, plus over €2 billion for early retirement, China impairments and the Osnabrück plant sale. Deutsche Bank rates the shares a buy, with a €115 target, saying the headline overstates underlying deterioration. Third-quarter results are due October 29.