Conergy, Metro, Software May Be Active: 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 prices are from the last close.
The DAX Index rose 1.3 percent to 7,267.87.
Conergy AG (CGYK GY): A group of hedge funds plans to buy control of 61 percent of Conergy and seeks to replace the company’s board of directors at its annual meeting in August, Financial Times Deutschland reported, without saying where it got the information. The shares rose 27 percent to 1.64 euros.
Metro AG (MEO) : Police and prosecution officials have searched 20 offices and homes and Metro’s Media Saturn unit’s headquarters amid bribery allegations at the consumer- electronics chain, Sueddeutsche Zeitung reported, citing unidentified prosecution and Media Saturn spokespeople.
Sven Jacobsen, a spokesman for Media Saturn, confirmed to Bloomberg News that prosecutors visited Media Saturn’s headquarters after the unit informed them about irregularities.
Metro shares advanced 1.8 percent to 40.54 euros.
Software AG (SOW) : Germany’s second-biggest maker of business software reported total revenue of between 256 million euros and 258 million euros in the second quarter. Software reiterated its earnings outlook for the full year 2011. Shares rose 0.9 percent to 42.06 euros.
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