BASF, Deutsche Bank, Deutsche Telekom: German Equity Preview
Stock Chart for Deutsche Telekom AG (DTE)
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.
The benchmark DAX Index (DAX) rose 23.52, or 0.3 percent, to 7,442.96 yesterday.
BASF SE (BAS) : The world’s biggest chemical maker may be paid 600 million euros ($872 million) by Ineos Group Holdings Ltd. for contributing greater assets to a styrene joint venture, Financial Times Deutschland reported, citing company calculations. The stock fell 0.2 percent to 67.70 euros.
Deutsche Bank AG (DBK) : Anshu Jain, head of the corporate and investment banking unit at Germany’s biggest lender, is the clear favorite to succeed Chief Executive Officer Josef Ackermann, Die Welt reported, citing no one. The stock fell 0.7 percent to 41.52 euros.
Deutsche Telekom AG (DTE) : Europe’s largest phone company named a McKinsey & Co. executive to run European operations and a politician to take charge of personnel. Nomura Holdings Inc. increased its recommendation to “buy” from “neutral” while Goldman Sachs Group Inc. reduced its rating to “sell.” The shares rose 0.1 percent to 10.70 euros.
ThyssenKrupp AG (TKA) : Germany’s largest steelmaker is likely to work with Citigroup Inc. and Deutsche Bank AG on a plan to sell shares in or divest itself of its stainless steel unit as the company cuts debt, said two people familiar with the matter. The stock fell 1 percent to 34.93 euros.
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