Allianz, Freenet AG, Hornbach, Nordex AG: German Equity Preview

By Nadja Brandt and Zainab Fattah

Sept. 30 (Bloomberg) -- The following is a list of companies whose shares may have unusual price changes in Germany. Stock symbols are in parentheses and share prices are from the previous close.

Futures on the DAX Index expiring in December lost 188, or 3.2 percent, to 5,686.5 as of 8:09 a.m. in Frankfurt. The DAX declined 4.2 percent to 5,807.08.

Allianz SE (ALV GY): Europe's biggest insurer said the sale of its Dresdner Bank unit to Commerzbank AG, the second-largest bank in Germany, is ``on track.'' Allianz decreased 7.57 euros, or 7.3 percent, to 95.77 euros.

Arcandor AG (ARO GY): Germany's biggest department-store owner was cut to ``neutral'' from ``overweight'' at JPMorgan Chase & Co. The shares lost 4 cents, or 2.1 percent, to 1.87 euros.

Bayer AG (BAY GY): Germany's biggest drugmaker is cooperating with the National University in Singapore on pre- clinical research in Asia. Bayer fell 1.4 euros, or 2.6 percent, to 52.23 euros.

Daimler AG (DAI GY): The world's second-largest maker of luxury cars wants to lower the price it agreed to pay for 42 percent of OAO KamAZ, Russia's biggest truckmaker, because of the stock-market rout, Vedomosti reported. Daimler shares dropped 1.65 euros, or 4.3 percent to 36.91 euros.

Deutsche Telekom AG (DTE GY): Europe's largest telephone company had its recommendation raised to ``buy'' from ``neutral'' at Goldman Sachs Group Inc. The shares dropped 45 cents, or 4.1 percent, to 10.30 euros.

Freenet AG (FNT GY): Debitel AG Chief Executive Officer Oliver Steil won't move onto the Freenet AG board, die Welt said.

Instead, Debitel finance chief Joachim Preisig will be the board member responsible for the integration of the two companies, die Welt said in the summary of an article to be published tomorrow, without saying where it got the information. Freenet Chief Financial Officer Axel Krieger will become deputy chief, the newspaper reported, without saying where it got the information. Freenet shares fell 74 cents, or 10 percent, to 6.35 euros.

Fresenius SE (FRE GR): The German health-care company buying APP Pharmaceuticals Inc. increased the syndicated credit facilities used to pay for the acquisition by $500 million because of demand from institutional investors. The shares declined 59 cents, or 1.1 percent to 51.91 euros.

Hornbach Holding AG (HBH3 GY): The operator of home- improvement stores in nine countries said second-quarter profit rose after the company sold more do-it-yourself products outside its home market. The shares decreased 9 cents, or 0.2 percent, to 52 euros.

Mobotix AG (MBQ GY): The German maker of security cameras proposed a full-year dividend of 50 cents. The company said full-year net income was 4.9 million euros ($7.1 million) as sales jumped 49 percent to 35.3 million euros. The shares rose 39 cents, or 1.4 percent, to 27.5 euros.

Nordex AG (NDX1 GY): Ventus Venture Fund GmbH & Co. Beteiligungs KG agreed to buy 280.7 million euros worth of Nordex shares. Nordex fell 2.33 euros, or 11 percent, to 19 euros.

ProSiebenSat.1 Media AG (PSM GR): Credit Suisse Group AG cut its price estimates on shares of the country's biggest private broadcaster 25 percent to 6.2 euros. ProSieben shares sank 37 cents, or 7.3 percent, to 4.70 euros.

To contact the reporter on this story: Nadja Brandt in Los Angeles at nbrandt@bloomberg.netZainab Fattah in Dubai on zfattah@bloomberg.net.