Allianz, Bilfinger, Daimler, E.ON, Hochtief, RWE: German Equity Preview
The following companies’ 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 rose 1.2 percent to 5976.5 in Frankfurt. The benchmark DAX Index rose 0.7 percent to 5,951.17 at the close in Frankfurt.
Allianz SE (ALV GY): The insurer aims to double life insurance sales at its German unit through its partnership with Commerzbank AG’s Dresdner Bank, Euro am Sonntag said, citing Andree Moschner, Allianz’s marketing chief for Germany. The shares climbed 87 cents, or 1.1 percent, to 81.43 euros.
Bilfinger Berger AG (GBF GY) and Hochtief (HOT GY): German Construction Minister Peter Ramsauer is seeking to reduce subsidies aimed at making buildings more energy efficient to 436 million euros ($555 million) next year from 1.35 billion euros this year, Rheinische Post said, without saying where it got the information. Bilfinger Berger shares rose 75 cents, or 1.6 percent, to 46.81 euros. Hochtief shares gained 72 cents, or 1.4 percent, to 51.33 euros.
Daimler AG (DAI GY): Sales of the Smart two-seater car will probably fall below 100,000 units this year from 114,000 in 2009 because of a lack of different models and sinking U.S. demand, Der Spiegel said. The shares rose 32 cents, or 0.8 percent, to 38.41 euros.
E.ON AG (EOAN GY) and RWE AG (RWE GY): Germany, which is considering prolonging the life of its nuclear reactors, would benefit most from an extension of 12 to 20 years, Focus said, citing a government-commissioned study.
Separately, German Economy Minister Rainer Bruederle wants to extend the use of nuclear power by about 15 years, WirtschaftsWoche said. E.ON’s shares gained 26 cents, or 1.2 percent, to 22.33 euros, while RWE rose 40 cents, or 0.8 percent, to 52.41 euros.
To contact the reporter on this story: Jeremy van Loon in Berlin at jvanloon@bloomberg.net
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