BASF, Bilfinger, E.ON, RWE, Qiagen: German Equity Preview

By Julie Cruz

Nov. 10 (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 benchmark DAX Index added 2.4 percent to 5,619.72.

BASF SE (BAS GY): The world’s largest chemical company, Akzo Nobel NV and Arkema SA may be fined by the European Union this week for fixing the price of a chemical used in plastic production, said five people with knowledge of the case. BASF shares advanced 2.5 percent to 38.50 euros.

Bilfinger Berger AG (GBF GY): Germany’s second-biggest builder said it aims to reduce the volume of its construction business to about 2 billion euros ($3 billion) in the “mid- term,” from 6 billion euros in 2008. The company also said it is considering an initial public offering for its Australian unit. The company is scheduled to report third-quarter earnings. The shares added 1.8 percent to 48.31 euros.

Qiagen NV (QIA GY): The Dutch biotechnology company said third-quarter adjusted profit rose to $53.5 million from $42.4 million a year earlier. Qiagen also said, in an e-mailed statement, that it’s raising its forecast for adjusted earnings per share for fiscal 2009 to between 88 cents to 90 cents from the previous range of 86 cents to 90 cents, based on currency exchange rates at Jan. 31. The company also said it plans to buy SABiosciences Corp. for $90 million in cash.

The shares increased 2.2 percent to 14.84 euros.

RWE AG (RWE GY): Germany’s second-biggest utility pulled out of the competition to get U.K. funding for a large carbon- capture and storage plant, leaving E.ON AG (EOAN GY) and Iberdrola SA’s Scottish Power as the remaining contenders.

Separately, E.ON may agree to sell its power network to Dutch electricity-grid operator Tennet BV this week, said two people familiar with the matter.

RWE rose 2 percent to 60.49 euros, while E.ON AG shares gained 3.2 percent to 27.05 euros.

To contact the reporter on this story: Julie Cruz in Frankfurt at jcruz6@bloomberg.net.