This Fintech Is on Track to Oust Commerzbank From German DAX

Wirecard AG, the fintech company that’s worth more than Deutsche Bank AG, edged closer to joining Germany’s blue chip DAX index after raising its earnings forecast for the second time this year. Wirecard jumped as much as 9.6 percent in Frankfurt after saying it now sees earnings before interest, taxes, depreciation and amortization of as much as 560 million euros ($637 million) this year, compared with an earlier prediction of 545 million euros. The raised outlook shows Wirecard’s business is “firing on all cylinders,” Robin Brass, an analyst at Hauck & Aufhaeuser, told Bloomberg.