German shares AFX at a glance outlook |
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Wed, 21 Mar 2007 09:10
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FRANKFURT (AFX) - German shares are expected to open lower this morning as investors remain nervous ahead of a US Fed decision on interest rates later today, dealers said.At 8.36 am, brokerage Lang & Schwarz forecast the DAX 30 index opening at 6,687, down some 13 points from Tuesday's close. The DAX closed 28.88 points higher at 6,700.29 yesterday.Energy shares E.ON and RWE are expected to advance after an expert report found no evidence of alleged price manipulation at the Leipzig Energy Exchange.Deutsche Postbank shares are expected to climb after receiving an upgrade to 'strong buy' from 'neutral' at Sal Oppenheim.Fresenius Medical Care is seen opening higher after it said it will propose a 1-3 share split at its AGM.SAP is stronger in pre-bourse trade after peer Oracle surprised with consensus-beating third quarter figures.Metro shares are expected to advance after the retailer said full-year net profit rose to 913 mln eur from 501 mln, beating a anaylst forecast at 895.4 mln.MDAX-Listed Suedzucker and Patrizia Immobilien are seen opening lower after the former is being reviewed by Moody's today for a possible credit downgrade and the latter posted full-year figures below expectations.FORTHCOMING EVENTSTODAYGea Group, FY results, annual news conferenceEuroforum seminar - Deutsche Bank of the future, Dorint Sofitel Pallas, Wiesbaden (0800)Bilfinger Berger FY results, annual news conference (0900)Metro Group FY results, annual news conferenceRheinmetall FY results, annual news conferenceHugo Boss FY results, annual news conferenceBertelsmann FY resultsTOMORROWHochtief FY results, annual news conferenceHeidelbergCement FY results, annual news conferenceGerman Private Banking Association BdB news conference, Berlin (1130)DekaBank FY results, annual news conference, Frankfurt (1000)TODAY'S PRESS-BaFin probes whether TUI was late in disclosing First Choice deal (Handelsblatt)-Landesbank Baden-Wuerttemberg head Jaschinski opposes focus on retail banking for state banks (Financial Times Deutschland)-SMT Scharf plans IPO for mid-April (Financial Times Deutschland)-Commerzbank board member Blessing sees margins in credit business decreasing further (Die Welt)-KarstadtQuelle in talks to acquire TV station Home Shopping Europe (Frankfurter Allgemeine Zeitung)-German car lobby group to assign new president next week (Handelsblatt)-Lanxess considering to bid for Degussa (Rheinische Post)COMPANY NEWS- FRESENIUS MEDICAL CARE TO PROPOSE 3-FOR-1 SHARE SPLIT TO AGM- CUSTODIA SELLS 25.08 PCT IN HOCHTIEF TO SPAIN'S ACS FOR 72.00 EUR/SHARER- GEA FY EBIT 298.2 MLN EUR VS 225.3 MLN; CONSENSUS 284.11 MLN- GEA FY NET LOSS 288.2 MLN EUR VS LOSS 64.3 MLN- GEA FY SALES 4.346 BLN EUR VS 3.390 BLN; CONSENSUS 4.118 BLN- GEA FY PRETAX 253.7 MLN EUR VS 180.8 MLN- GEA FY EBIT 298.2 mln eur vs 225.3 mln; consensus 284.11 mln- METRO FY NET 913 MLN EUR VS 501 MLN; CONSENSUS 895.4 MLN- METRO FY EBIT 1.983 BLN EUR VS 1.738 BLN- METRO SEES FY SALES UP 8-9 PCT, EBIT UP 6-8 PCT- METRO TO INVEST 2.5 BLN EUR IN FY TO EXPAND CASH & CARRY, ELECTRONICS ABROAD- METRO SEES MID-TERM ANNUAL SALES GROWTH OF 6 PCT, WITH FASTER EBIT GROWTH- Metro FY net jumps 82.2 pct on Wal-Mart, Geant acquisitions, beats consensusMARKET NEWS- STOCKWATCH SAP seen opening higher after Oracle Q3 figures beat consensus- STOCKWATCH Fresenius higher pre-bourse after announcing 1-3 stock splitTyler.Sitte@thomson.comts/jfrCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Aerospace and transportation highlights to 09:10 GMT 