Bloomberg "Anywhere" Remote Login Bloomberg "Terminal" Request a Demo


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

German Stocks Drop From Six-Week High; Deutsche Bank Retreats

Sept. 21 (Bloomberg) -- The benchmark DAX Index fell from its highest level in six weeks, led by declines in Deutsche Bank AG shares after saying it expects a third-quarter net loss.

Deutsche Bank posted the biggest decline in the DAX index. Bayer AG slipped 1 percent as competitor Boehringer Ingelheim GmbH won a U.S. panel’s backing for the first blood thinner to replace warfarin, which has been the standard treatment for preventing strokes for more than half a century. Deutsche Lufthansa AG climbed as the International Air Transport Association tripled its forecast for the industry’s profit this year.

The DAX index dropped 0.3 percent to 6,275.98 in Frankfurt. The gauge remains 1.2 percent below its high for 2010 in August amid conflicting reports about the strength of the economic recovery and concern that some European nations will fail to repay their debt. The broader HDAX Index lost 0.2 percent today.

Deutsche Bank tumbled 4.5 percent to 44.75 euros as it said it expects to report a third-quarter net loss after writing down the value of its existing holding in Deutsche Postbank AG. Deutsche Bank will raise about 10.2 billion euros ($13.39 billion) in Europe’s largest rights offer this year to acquire its smaller rival and to build up its own capital reserves.

Bayer Declines

Bayer, Germany’s largest drugmaker, slipped 1 percent to 51.82 euros. The Food and Drug Administration panel’s decision puts Boehringer’s drug, closer to going on sale than rival medicines being developed by Bayer, Pfizer Inc., Johnson & Johnson and Bristol-Myers Squibb Co. At stake is a share in a market that may reach $12 billion to $15 billion a year, Bayer Chief Executive Officer Werner Wenning said on Sept. 14.

HeidelbergCement AG, the world’s third-largest cement maker, gained 1.2 percent to 36.20 euros, the stock’s highest price in six weeks. European construction shares climbed 1.1 percent, the best performance among the 19 industry groups in the benchmark Stoxx Europe 600 Index.

Demag Cranes AG surged 2.8 percent to 28.76 euros, the stock’s highest price in two years. The largest maker of harbor cranes had its price estimate raised 20 percent to 39.71 euros at Goldman Sachs Group Inc.

Deutsche Lufthansa, Germany’s largest airline, added 2.3 percent to 13.65 euros. The global airline industry may post an $8.9 billion combined profit in 2010, more than triple an earlier forecast, as the economic recovery spurs travel and carriers avoid over-expansion, IATA said.

United Internet AG increased 2.6 percent to 11.58 euros, the stock’s highest price since April. Los Angeles-based MMC agreed to sell its e-mail business to Internet-services provider United Internet. MMC will remain the primary global content provider for, the company said in an e-mailed statement.

To contact the reporters on this story: Julie Cruz in Frankfurt at

To contact the editors responsible for this story: David Merritt at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.