EON AG, Munich Re, Siemens, Tom Tailor: 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.
The benchmark DAX Index (DAX) gained 200.08, or 3.5 percent, to 5,997.74 on Aug. 12.
EON AG (EOAN GY): Chief Executive Officer Johannes Teyssen said the German utility is open to discussions about cooperation in areas such as the construction of new power plants, Der Spiegel reported. Teyssen said a direct “participation” from OAO Gazprom of Russia would make “little sense” for EON, according to the newspaper. The shares surged 4.8 percent to 14.81 euros.
Munich Re (MUV2 GY): The world’s biggest reinsurer has almost halved its holdings in stocks in recent weeks because of the debt crisis, Frankfurter Allgemeine Zeitung reported, citing an interview with Chief Financial Officer Joerg Schneider. The shares climbed 3.5 percent to 92.14 euros.
Siemens AG (SIE) : Juergen Maier, U.K. chief at the Germany technology company’s industrial division, said there’s evidence that a slowdown in British consumer purchasing is beginning to hit manufacturing, the Observer reported. Siemens shares rose 2.5 percent to 74.10 euros.
Tom Tailor Holding AG (TTI) : The German clothing company plans to pay a 2011 dividend of about 30 percent of its yearly profit, Euro am Sonntag reported, citing an interview with Chief Executive Officer Dieter Holzer. The shares added 0.8 percent to 12 euros.
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