BMW, Daimler, Infineon, MLP, Premiere: German Equity Preview

By Oliver Suess and Stefanie Haxel

Dec. 1 (Bloomberg) -- The following companies may have unusual price changes in Germany. Stock symbols are in parentheses, and share prices are from the previous close.

DAX Index futures expiring in December fell 19.5, or 0.4 percent, to 4,650 as of 8:08 a.m. in Frankfurt. The German benchmark DAX Index rose 0.1 percent to 4,669.44 on Nov. 28.

Allianz SE (ALV GY): UBS AG raised its share-price estimate for Europe’s largest insurer 5 percent to 105 euros. The shares increased 5.40 euros, or 9 percent, to 65.21.

Bayerische Motoren Werke AG (BMW GY): The world’s largest luxury carmaker is cutting production and 40 temporary staff at its U.K.-based Rolls-Royce luxury car unit amid signs of a “softening in sales,” the Financial Times said. The shares fell 69.5 cents, or 3.4 percent, to 19.675 euros.

Commerzbank AG (CBK GY): Germany’s second-biggest bank didn’t use capital provided by the government’s bank rescue fund for its accelerated acquisition of Allianz SE’s Dresdner Bank, Welt am Sonntag reported, citing Chief Executive Officer Martin Blessing. Commerzbank shares rose 33.5 cents, or 4.9 percent, to 7.215 euros.

Continental AG (CON GY): Europe’s second-largest car-parts maker plans to introduce short-time working for a number of its locations following production cuts at carmakers. The shares lost 1.31 euros, or 3.4 percent, to 37.29 euros.

Daimler AG (DAI GY): The world’s second-largest maker of luxury cars may cut truck production at its plant in Woerth, Germany, by 30 percent in the first quarter next year as orders are clearly below normal, Automobilwoche reported, citing an interview with plant director Martin Daum. The shares dropped 92.5 cents, or 3.6 percent, to 24.655 euros.

Deutsche Bank AG (DBK GY): Chief Executive Officer Josef Ackermann expects that investment banking will continue to play an important role in areas such as capital markets and advisory services, he told Boersen-Zeitung in an interview. The shares of Germany’s largest bank increased 75 cents, or 2.8 percent, to 27.98 euros.

Hochtief AG (HOT GY): The Dubai partner of the builder’s Australian unit Leighton Holdings delayed work on the 2.9 billion dirham ($790 million) Trump tower project. Hochtief, Germany’s largest construction company, gained 98 cents, or 3.3 percent, to 30.45 euros.

Infineon Technologies AG (IFX GY): The Qimonda division of Europe’s second-largest maker of semiconductors said it delayed its fourth-quarter earnings report as the search for a partner drags on. The quarterly loss probably widened, Qimonda said in a statement today.

Separately, Infineon is talking to employees about further cost cuts. The company aims to further “intensify” its existing program and is currently discussing short-time working or extended company holidays with employee representatives, Ralph Driever, a spokesman for the company said in a telephone interview on Nov. 29. The shares slipped 8 cents, or 4.2 percent, to 1.85 euros.

MLP AG (MLP GY): Swiss Life Holding AG needs to sell its stake in the German financial services broker, MLP Chief Executive Officer Uwe Schroeder-Wildberg told Finanz und Wirtschaft in an interview. A sale of Swiss Life’s 24 percent stake in MLP is the “only solution” to continue cooperation between the broker and the Swiss life insurer, which MLP suspended earlier this month, he added. MLP shares climbed 8 cents, or 0.8 percent, to 9.74 euros.

Munich Re (MUV2 GY): The world’s biggest reinsurer expects a “2 to 3 percent combined ratio improvement” in 2009 following contract renewals, Reuters reported, citing Chief Executive Officer Nikolaus von Bomhard. The shares decreased 29 cents, or 0.3 percent, to 106.96 euros.

Premiere AG (PRE GY): Italian Prime Minister Silvio Berlusconi may increase his stake in Germany’s biggest pay- television company through a share sale, Italian newspaper La Stampa reported.

Separately, UBS AB raised its share-price estimate 15 percent to 7.50 euros. Premiere sank 14 cents, or 3 percent, to 4.57 euros.

To contact the reporter on this story: Oliver Suess in Munich at osuess@bloomberg.net; Stefanie Haxel in Frankfurt at shaxel@bloomberg.net