By Joseph Mapother and Stefanie Haxel
Nov. 28 (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 fell 18, or 0.4 percent, to 4,663.5 as of 8:10 a.m. in Frankfurt. The DAX rose 2.3 percent to 4,665.27.
Air Berlin Plc (AB1 GY): Royal Bank of Scotland Group Plc raised its recommendation on Europe’s third-biggest discount airline to “buy” from “hold.” The shares rose 46 cents, or 15 percent, to 3.46 euros.
Commerzbank AG (CBK GY): Germany’s second-largest bank will buy the remaining 40 percent of domestic competitor Dresdner Bank from Allianz SE earlier than planned for 1.4 billion euros ($1.8 billion). Commerzbank will assume full ownership in January instead of the second half of next year. Commerzbank shares rose 39 cents, or 6 percent, to 6.88 euros. Allianz (ALV GY) gained 5.46 euros, or 10 percent, to 59.81 euros.
Deutsche Lufthansa AG (LHA GY): Europe’s second-largest airline will face strikes by cabin crews early next year that may cost the airline as much as 5 million euros a day, Westdeutsche Allgemeine Zeitung reported. The stock increased 13 cents, or 1.3 percent to 10.325 euros.
Infineon Technologies AG (IFX GY): STMicroelectronics NV, Europe’s largest semiconductor maker, said fourth-quarter revenue will be below the company’s forecast because of a slowdown in orders. Shares of Infineon, Europe’s No. 2 maker of semiconductors, fell 7.5 cents, or 3.7 percent, to 1.93 euros.
Lanxess AG (LXS GY): HSBC Holdings Plc cut its share-price estimate for the supplier of butyl to make Bridgestone Corp. tires 35 percent to 24 euros. The shares added 1.02 euros, or 7.9 percent, to 13.92.
Porsche SE (PAH3 GY): Citigroup Inc. lowered its share- price projection on the maker of the 911 sports car 12 percent to 50 euros. The shares climbed 1.81 euros, or 3.5 percent, to 54.30.
RWE AG (RWE GY): JPMorgan Chase & Co. downgraded Germany’s second-largest utility to “neutral” from “overweight.”
Separately, RWE has no plans to cut back the size or pace of spending plans calling for 32 billion euros in outlays through 2012, unlike German competitor E.ON AG, Boersen-Zeitung said, citing Chief Financial Officer Rolf Pohlig.
The Wall Street Journal reported RWE faces higher costs as European emission laws get tougher and their impact is felt by companies. RWE lost 37 cents, or 0.6 percent, to 65.63 euros.
Solarworld AG (SWV GY): Morgan Stanley upgraded Germany’s third-largest solar company to “equal weight” from “underweight.” The shares advanced 73 cents, or 5.5 percent, to 14.03 euros.
ThyssenKrupp AG (TKA GY): Germany’s largest steelmaker said full-year pretax profit declined 6 percent to 3.13 billion euros after building costs overran at its Brazilian plant and stainless steel prices dropped. It forecast a “significant” decline in sales for the current business year because of a weaker economy, adding that a detailed outlook can’t currently be made. The shares added 62 cents, or 4.2 percent, to 15.54 euros.
To contact the reporter on this story: Joseph Mapother in Frankfurt at jmapother1@bloomberg.net; Stefanie Haxel in Frankfurt at shaxel@bloomberg.net
Posts
No comments:
Post a Comment