Economic Calendar

Tuesday, November 11, 2008

Aareal, AMB, Grammer, Lufthansa, RWE: German Equity Preview

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By Nadja Brandt and Stefanie Haxel

Nov. 11 (Bloomberg) -- The following companies may have unusual price changes in German trading. Stock symbols are in parentheses, and share prices are from the previous close.

DAX Index futures expiring in December lost 14.5, or 0.3 percent, to 4,939 as of 8:07 a.m. in Frankfurt. The DAX added 1.8 percent to 5,025.53.

Aareal Bank AG (ARL GY): The commercial-property lender said third-quarter profit fell 92 percent to 15 million euros ($19 million) after asset sales in the year-earlier period boosted earnings. The shares climbed 40 cents, or 5.7 percent, to 7.40 euros.

Allianz SE (ALV GY): Citigroup Inc. cut its recommendation for Europe's second-biggest insurer by market value to ``hold'' from ``buy.'' Allianz shares lost 35 cents, or 0.5 percent, to 65.20 euros.

AMB Generali Holding AG (AMB2 GY): The unit of Italy's Assicurazioni Generali SpA plans to report third-quarter results. The shares fell 10 cents, or 0.1 percent, to 79.89 euros.

Deutsche Lufthansa AG (LHA GY): Europe's second-biggest airline is scheduled to release monthly traffic figures.

Separately, Lufthansa abandoned plans to buy SAS Group because of losses at Scandinavian airline's Spanair unit, Sueddeutsche Zeitung reported today, citing unidentified people from the industry. The shares gained 4.5 cents, or 0.4 percent, to 10.74 euros.

Deutsche Euroshop AG (DEQ GY): Germany's biggest investor in shopping centers raised its full-year profit targets after nine-month earnings jumped on revenue from properties in Hamelin and Passau. Deutsche Euroshop shares increased 30 cents, or 1.5 percent, to 20.95 euros.

Deutsche Postbank AG (DPB GY): Germany's biggest consumer bank by clients may post a full-year loss amid the worst financial crisis since the Great Depression. Postbank said it can't rule out a ``negative result'' in 2008. The shares added 2 cents, or 0.1 percent, to 16.72 euros.

GfK AG (GFK GY): The market research group that dropped its proposed merger with Taylor Nelson Sofres Plc said third-quarter profit rose 1.7 percent as demand grew. The shares rose 23 cents, or 1.4 percent, to 16.73 euros.

Grammer AG (GMM GY): The supplier of interiors for carmakers including Daimler AG and Bayerische Motoren Werke AG said nine-month earnings before interest and taxes dropped 13 percent to 23.5 million euros and confirmed a full-year EBIT target. The shares sank 12 cents, or 1.3 percent, to 8.91 euros.

MLP AG (MLP GY): Germany's third-biggest financial-services broker said it's sticking to a full-year target for sales at last year's level. The shares gained 21 cents, or 2.2 percent, to 10 euros.

Pfleiderer AG (PFD GY): The laminate flooring maker with 22 factories on two continents said it will focus on cutting costs as orders decline because of the global economic slump. The shares fell 30 cents, or 4.6 percent, to 6.20 euros.

Premiere AG (PRE GY): Germany's biggest pay-television operator has offered to sell its majority stake in satellite television unit Premiere Star, Handelsblatt said, citing unidentified people involved in the process. The shares advanced 49 cents, or 16 percent, to 3.65 euros.

RWE AG (RWE GY): Germany's second-largest utility said third-quarter net income rose fivefold to 1.06 billion euros after electricity prices doubled. RWE shares advanced 1.75 euros, or 2.6 percent, to 68.50 euros.

Tognum AG (TGM GY): The diesel-engine maker partially owned by Daimler AG said third-quarter profit fell 46 percent to 39 million euros as the weaker dollar and higher research and development costs burdened earnings. The shares climbed 23 cents, or 2.6 percent, to 8.93 euros.

To contact the reporter on this story: Nadja Brandt in Los Angeles at nbrandt@bloomberg.net; Stefanie Haxel in Frankfurt at shaxel@bloomberg.net




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