Fraport, Gildemeister, Init, MAN, Suess MicroTec: German Equity Preview
The following is a list of companies whose shares may have unusual price changes in Germany. Stock symbols are in parentheses and prices are from the last close.
DAX Index futures expiring in June climbed 0.5 percent to 6,084.50 as of 8:03 a.m. in Frankfurt. The benchmark DAX Index rose 1.2 percent to 6,056.59 yesterday.
Fraport AG (FRA GY): The operator of Frankfurt airport reported a 7.1 percent passenger increase in May, to about 4.76 million. The shares climbed 2.9 percent 36.08 euros.
Gildemeister AG (GIL GY): The company aims to be profitable this year as orders picked up during the first six months and a cooperation with Mori Seiki Co. brings 15 million euros ($18 million) in cost cuts, Handelsblatt reported, citing Chief Executive Officer Ruediger Kapitza. The shares rose 2.3 percent to 8.61 euros.
Hochtief AG (HOT GY): RWE AG plans to terminate its facility-management contract with the company, Westdeutsche Allgemeine Zeitung reported, citing Hochtief spokeswoman Jutta Hobbiebrunken. The construction company’s shares gained 3.3 percent to 52.23 euros.
Init Innovation in Traffic Systems AG (IXX GY): The German maker of GPS tracking systems used in public transport bought back 40,000 of its own shares at an average price of 13.64 euros apiece between May 17, 2010 and June 10, 2010. The stock fell 0.9 percent to 13.58 euros.
MAN SE (MAN GY): Europe’s third-biggest truckmaker was added to Bank of America Corp.’s “Europe 1” list of selected stocks. The shares increased 0.2 percent to 67.87 euros.
Suess MicroTec AG (SMH GY): The German semiconductor equipment maker reiterated its annual sales forecast of 120 million euros for 2010 and said earnings before interest and taxes will be “slightly negative for the year.” The shares dropped 0.7 percent to 4.04 euros.