Air Berlin, BMW, Deutsche Bank, Software May Move: German Equity Preview
The following is a list of companies whose shares may have unusual price changes in German trading. Stock symbols are in parentheses and share prices are from the previous close.
The benchmark DAX Index rose 0.3 percent to 6,155.04.
Air Berlin Plc (AB1 GY): The airliner reported an 8.7 percent rise in passenger numbers in August to 3.73 million, while the load factor fell by 0.8 percentage point to 83.5 percent. The shares rose 0.3 percent to 3.44 euros.
Bayerische Motoren Werke AG (BMW GY): The world’s largest maker of luxury autos said it will expand the BMW and Mini model ranges to boost annual sales 55 percent over the next decade. The shares slid 0.1 percent to 44.04 euros.
Deutsche Bank AG (DBK GY): Morgan Stanley cut its price estimate for Germany’s largest bank to 57 euros from 58 euros. The shares rose 0.3 percent to 50.16 euros.
Deutsche Telekom AG (DTE GY): France Telecom SA denied that it has any plan to merge with Deutsche Telekom, Reuters reported, citing an unidentified spokesman.
Reuters yesterday cited the the CFE-CGC/UNSA labor union federation as saying that an increase in the France Telecom stake held by Deutsche Bank signal such a merger. Deutsche Bank now holds 5 percent of France Telecom.
The stock rose 0.1 percent to 10.37 euros.
Software AG (SOW GY): The company plans to buy a “larger” software firm every two to four years, Financial Times Deutschland reported, citing an interview with Chief Executive Officer Karl-Heinz Streibich. The stock slid 0.8 percent to 84.55 euros.
Volkswagen AG (VOW GY): Shanghai Volkswagen Co, a joint venture between the German carmaker and SAIC Motor Corp., sold 86,330 vehicles in China in August, according to a document on the Shanghai government website.
Shanghai Volkswagen’s sales for the month were 32 percent higher than a year earlier, while deliveries rose 36.5 percent in the eight months through August 2010, the document said. The stock gained 0.7 percent to 73.99 euros.
To contact the reporter on this story: Sarah Jones in London at sjones35@bloomberg.net.
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