HeidelbergerCement, GEA, Wacker, Fresenius, Conergy: 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 share prices are from the previous close.
DAX Index futures expiring in September were little changed, up less than 0.1 percent, at 6,135.5 at 8:51 a.m. in Frankfurt. The DAX fell 44.24, or 0.7 percent, to 6,134.7.
Conergy AG (CGY GY): Conergy reached an agreement with its creditors to extend outstanding loan payments to the end of 2011, allowing the Hamburg-based solar-power company to book an operating profit this year, it said in a statement. The shares rose 1.1 percent to 74.3 euro cents.
Fresenius SE (FRE3 GY): The parent company of the world’s biggest provider of kidney dialysis was raised to “buy” from “hold” at Citigroup Inc. The shares slipped 0.4 percent to 54.73 euros.
GEA Group AG (G1A GY): The engineering company, whose machines milk a third of the world’s dairy cows, said second- quarter net income fell to 28.8 million euros ($37.7 million) from 32.4 million euros. The shares fell 0.7 percent to 17.89 euros.
Merck KGaA (MRK GY): The pharmaceutical and chemicals company was raised to “outperform” from “underperform” at Credit Suisse Group AG. The shares jumped 4.6 percent to 67.16 euros.
HeidelbergerCement AG (HEI GY): The world’s third-largest cement maker said second-quarter net income fell to 120 million euros from 333 million euros a year earlier, the company said in an e-mailed statement today. Sales in the quarter rose 9.5 percent to 3.3 billion euros. The shares rose 0.2 percent to 40 euros.
Volkswagen AG (VOW3 GY): Europe’s largest carmaker was raised to “buy” from “hold” at Deutsche bank AG. The shares surged 3.1 percent to 80.99 euros.
Wacker Chemie AG (WCH GY): The German chemicals company reported second-quarter net income of 135.4 million euros, after a loss of 74.5 million euros in the year-earlier quarter. The shares fell 7.05 euros, or 5.2 percent, to 127.55 euros.
To contact the reporters on this story: Patrick Donahue in Berlin at at pdonahue1@bloomberg.net; Julie Cruz in Frankfurt at jcruz6@bloomberg.net.
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