German steel giant Thyssenkrupp AG will have to leave Germany's benchmark DAX index on Sept. 23, the Deutsche Boerse announced Wednesday evening in an online note.

Thyssenkrupp will be replaced by German aircraft engine manufacturer MTU Aero Engines AG, the Deutsche Boerse said. After its exit from the DAX, Thyssenkrupp will be included in the MDAX index.

In August, the German industrial giant with more than 200 years of history reported a pre-tax profit slump of 85 percent between April and June this year from the same period last year.

The benchmark DAX is a blue chip stock market index consisting of 30 major German companies trading on the Frankfurt Stock Exchange. The MDAX is the second stock market league consisting of 60 companies.

The DAX index closed 0.96 percent higher at 12,025.04 on Wednesday. Stocks of Thyssenkrupp rose by 3.48 percent to close at 11.00 euros (12.14 U.S. dollars) per share.

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