Fraport, Gildemeister, Volkswagen: 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 December slipped 0.1 percent to 6,668 as of 8:14 a.m. in Frankfurt. The benchmark DAX Index lost 1.9 percent to 6,663.24 yesterday.
Biotest AG (BIO3 GY): The biotechnology company was raised to “overweight” from “neutral” at HSBC Holdings Plc. The shares gained 1.1 percent to 40.50 euros.
Continental AG (CON GY): The world’s biggest maker of car instruments and display systems aims to reduce dependence on a stagnating European market by targeting Asian buyers of ultra- cheap autos with affordable electronic devices. The shares sank 3.5 percent to 57.52 euros.
Deutsche Bank AG (DBK GY): Germany’s largest bank will join Mitsubishi UFJ Financial Group Inc. and three partners in a 30 billion yen ($360 million) fund to invest in overhauling Japanese businesses. Deutsche Bank shares dropped 1.5 percent to 40.15 euros.
Fraport AG (FRA GY): The operator of the Frankfurt airport said it would evaluate an investment in the Athens airfield if the Greek government decides to reduce its 55 percent stake. The shares slumped 2.4 percent to 44.32 euros.
Gildemeister AG (GIL GY): Mori Seiki Co. plans to increase its stake in Gildemeister to more than 20 percent from 5 percent, Nikkei English News reported, without saying where it obtained the information. The shares lost 2.4 percent to 14.07 euros.
Volkswagen AG (VOW3 GY): Europe’s largest carmaker and Suzuki Motor Corp. are considering jointly developing a low-cost vehicle to be sold in emerging markets, the Asahi newspaper reported, without saying where it obtained the information. Volkswagen preferred shares slipped 0.9 percent to 115.50 euros.
To contact the editor responsible for this story: David Merritt at firstname.lastname@example.org.