Economic Calendar

Monday, November 17, 2008

Daimler, Deutsche Bank, Deutsche Boerse: German Equity Preview

Share this history on :

By Jann Bettinga

Nov. 17 (Bloomberg) -- The following companies may have unusual price changes in Germany. Stock symbols are in parentheses, and share prices are from the previous close.

The DAX rose 1.3 percent to 4,710.24 on Nov. 14.

Daimler AG (DAI GY): The carmaker plans a new cost-savings program and may approve the measure before Christmas, Germany's WirtschaftsWoche magazine reported, without saying where it got the information.

Daimler's Mercedes brand plans to build about 150,000 fewer cars next year than planned, Germany's Automobilwoche said separately, citing internal figures it has seen. The shares rose 23 cents, or 1 percent, to 23.225 euros.

Deutsche Bank AG (DBK GY): The bank's Chief Executive Officer, Josef Ackermann, expects the world financial crisis to last another two to three years, Welt am Sonntag reported, citing an interview with the CEO.

Ackermann will examine carefully whether state aid granted to rivals prompts ``competitive disadvantages,'' NZZ am Sonntag reported separately, citing an interview with the CEO. The shares fell 1 cent, or 0.04 percent, to 24.50 euros.

Deutsche Boerse AG (DB1 GY): The stock exchange operator's shareholder Children's Investment Fund Management LLP said it never demanded a spin-off and sale of the company's trading business in Frankfurt, Der Spiegel magazine reported. The shares advanced 16 cents, or 0.3 percent, to 59.50 euros.

HeidelbergCement AG (HEI GY): Germany's billionaire Merckle family, owner of the cement maker, is seeking to prop up an investment company battered by wrong-way bets on Volkswagen AG shares and plunging stock markets, three people familiar with the situation said.

Merckle didn't return calls seeking comment. The shares rose 1.35 euros, or 2.7 percent, to 51.11 euros.

Hypo Real Estate Holding AG (HRX GY): The property lender bailed out last month will report final third-quarter earnings. The shares fell 13 cents, or 3.9 percent, to 3.24 euros.

Infineon Technologies AG (IFX GY): Micron Technology Inc. has agreed on an option to buy Infineon's stake in memory-chip maker Qimonda AG, Germany's WirtschaftsWoche magazine reported, without saying where it got the information.

Qimonda spokesman Ralph Heinrich declined to comment on the report when contacted by Bloomberg News. The shares declined 5.5 cents, or 2.4 percent, to 2.21 euros.

Salzgitter AG (SZG GY): The steelmaker's Chief Executive Officer Wolfgang Leese said the steel industry will experience a ``dent'' in demand in the short term due to problems in the car industry, Frankfurter Allgemeine Sonntagszeitung reported. The shares rose 1.75 euros, or 4 percent, to 46 euros.

To contact the reporter on this story: Jann Bettinga in Frankfurt at jbettinga@bloomberg.net




No comments: