By Karin Matussek and Stefanie Haxel
Dec. 11 (Bloomberg) -- The following is a list of companies whose shares may have unusual price changes in Germany. Stock symbols are in parentheses after company names, and prices are from the last close.
DAX Index futures expiring in December fell 13.5, or 0.3 percent, to 4,796 as of 8:17 a.m. in Frankfurt. The DAX added 25.77, or 0.5 percent, to 4,804.88.
Bayerische Motoren Werke AG (BMW GY): The world’s biggest maker of luxury cars said no decision will be reached this year on plans to cooperate with Italy’s Fiat SpA. BMW and Turin-based Fiat signed an initial agreement in July to explore joint platforms for BMW’s Mini division and Fiat’s Alfa Romeo. The shares added 50.5 cents, or 2.3 percent, to 22.615 euros.
Continental AG (CON GY): The auto-parts manufacturer plans to cut jobs in the U.S., Reuters reported, citing unidentified people familiar with the plans. It’s unclear how many of the company’s 25,000 U.S. workers will lose their positions, the newswire said.
Separately, Continental rebuffed its largest shareholder Schaeffler Group’s demand for a quick sale of its rubber business, the Financial Times reported. The shares increased 1.14 euros, or 3.1 percent, to 38.34 euros.
Escada AG (ESC GY): Credit Suisse Group AG rated the maker of luxury women’s clothes “underperform” in new coverage. The shares gained 25 cents, or 6.9 percent, to 3.85 euros.
Fraport AG (FRA GY): The owner of Frankfurt Airport said Europe’s third-busiest hub handled 7 percent fewer passengers in November as a recession in Europe sapped demand. The shares rose 1.07 euros, or 3.9 percent, to 28.28 euros.
GK Software AG (GKS GY): The supplier of software to 12,000 shops worldwide won an order from Hornbach Baumarkt AG, a German home-improvement retailer with stores in nine countries. The shares climbed 10 cents, or 0.7 percent, to 14.10 euros.
Hochtief AG (HOT GY): Budapest Airport Zrt., majority owned by Germany’s largest builder, closed one of its three terminals and canceled more flights as a staff strike over job cuts and longer working hours entered its second day. Hochtief advanced 1.36 euros, or 4.3 percent, to 33.09.
Infineon Technologies AG (IFX GY): Merrill Lynch & Co. cut its recommendation on Europe’s second-largest chipmaker to “neutral” from “buy.” Infineon shares fell 3 cents, or 2.8 percent, to 75.5 cents.
Porsche SE (PAH3 GY): Morgan Stanley downgraded the maker of the 911 sports car to “underweight” from “equal-weight.” Separately, UBS AG raised its recommendation on the stock to “neutral” from “sell.” Porsche shares added 42 cents, or 0.8 percent, to 50.67 euros.
Q-Cells AG (QCE GY): Germany’s largest solar company was lowered to “sell” from “neutral” at UBS AG, which also cut its price estimate on the shares. The stock declined 1.19 euros, or 5.4 percent, to 21.03.
TUI AG (TUI1 GY): The owner of Europe’s largest travel company said its board proposed suspending its dividend for 2008, saying profit growth will be “only slightly positive” because of costs of a merger. A dividend related to the sale of the Hapag-Lloyd shipping line will be resolved in fiscal 2009, TUI said. The shares dropped 2 cents, or 0.3 percent, to 8.14 euros.
To contact the reporter on this story: Karin Matussek in Berlin at kmatussek@bloomberg.net; Stefanie Haxel in Frankfurt at shaxel@bloomberg.net
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