Bloomberg News

BASF, Deutsche Bank, Deutsche Telekom: German Equity Preview

July 05, 2011

July 5 (Bloomberg) -- 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 rose 23.52, or 0.3 percent, to 7,442.96.

BASF SE (BAS GY): The world’s biggest chemical maker may be paid 600 million euros ($872 million) by Ineos Group Holdings 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 GY): 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 GY): Europe’s largest phone company named a McKinsey & Co. executive to run European operations and a politician to take charge of personnel. The shares rose 0.1 percent to 10.70 euros.

ThyssenKrupp AG (TKA GY): 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.

--Editor: Jeff Sutherland

To contact the reporter on this story: Andreas Cremer in Berlin at acremer@bloomberg.net

To contact the editor responsible for this story: Chad Thomas at cthomas16@bloomberg.net


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