Air Berlin, Commerzbank, Fraport: German Stock Market Preview

By Oliver Suess

Sept. 1 (Bloomberg) -- The following is a list of companies whose shares may have unusual price changes in Germany. Stock symbols are in parentheses, and share prices are from the previous close.

The DAX Index fell 1 percent to 5,464.61.

Air Berlin Plc (AB1 GY): Europe’s third largest discount carrier said BlueBay Asset Management Plc’s BlueBay Multi- Strategy (Master) Fund Ltd. and BlueBay Global Convertible Bond Fund bought convertible bonds Aug. 25 which can be converted into 3.99 million shares between Nov. 17 and Aug. 15, 2014, which would give BlueBay a possible 5.2 percent stake in the airline’s voting rights. The shares fell 1.6 percent to 3.81 euros.

BayWa AG (BYW6 GY): Europe’s largest grain broker is considering at least 10 takeover targets, Chief Executive Officer Klaus Josef Lutz told Frankfurter Allgemeine Zeitung in an interview. The shares declined 0.4 percent to 23.90 euros.

Commerzbank AG (CBK GY): Dresdner Kleinwort, the investment bank that traces its name back 223 years to a trade financier, will cease to exist as of Sept. 1 as a brand as Commerzbank marks the first anniversary of its takeover of Dresdner Bank. The stock fell 1.3 percent to 6.44 euros.

Fraport AG (FRA GY): The owner of the Frankfurt airport is not interested in buying the U.K.’s Stansted and Gatwick airports, Frankfurter Allgemeine Zeitung said, citing Stefan Schulte, who will be the company’s chief executive officer. While talks about operating and developing the Pulkovo Airport in St. Petersburg in Russia “are going well,” the completion of the first segment of the Frankfurt airport’s new Terminal 3 will probably be delayed by two years, the newspaper cited Schulte as saying. The shares lost 1.5 percent to 35.22 euros.

RWE AG (RWE GY): Germany’s second-biggest utility was added to Europe’s Dow Jones Stoxx 50 Index, replacing Royal Philips Electronics NV, Stoxx Ltd. said in a statement. RWE shares fell 0.7 percent to 64.60 euros.

To contact the reporter on this story: Oliver Suess in Munich at osuess@bloomberg.net