|Bid||28.49 x 61400|
|Ask||28.51 x 23400|
|Day's Range||28.36 - 29.54|
|52 Week Range||24.21 - 46.36|
|Beta (3Y Monthly)||0.39|
|PE Ratio (TTM)||32.68|
|Forward Dividend & Yield||0.05 (0.17%)|
|1y Target Est||62.11|
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. Germany Inc. is flashing recession signals.Major companies in Europe’s largest economy, lead the list of profit warnings issued in the region during the latest earnings season. Daimler AG, BASF SE, Continental AG, Henkel AG, Deutsche Lufthansa AG and Metro AG are among those that have cut their forecasts. Many more have drawn bleak pictures of their prospects.The combined misery of corporate Germany was highlighted on Wednesday, when a report showed a quarterly contraction of the economy, the second in the past year. Surveys for the third quarter have hinted at a further deterioration, with a manufacturing gauge firmly pointing to shrinking output.Adding to the sense of woe, materials maker SGL Carbon SE said late Wednesday its guidance for 2020-2022 is no longer sustainable and Chief Executive Officer Juergen Koehler is stepping down. United Internet AG cut its full-year sales forecast and 1&1 Drillisch AG trimmed its revenue prediction.Read Bloomberg Economics’ German Country PrimerAt the heart of companies’ concerns are weaker global growth, dwindling demand from China, and trade tariffs -- factors that hurt Germany’s export-heavy industrial sector in particular.Industrial companies have fared worst during the second-quarter earnings season. Expectations for German businesses were comparatively low, but even so, only 41% of them managed to beat sales estimates. The ratio is well above 50% in France, Italy and Spain.The consequences are starting to be felt. Unemployment rose by a total of 62,000 in the three months through July and demand for new workers continued to soften.That’s bad news for a country hoping to make up dwindling exports with consumption and investment. Domestic demand still supported the economy in the second quarter but that might change once uncertain prospects prompt companies and households to rein in spending.Economists at Deutsche Bank AG and ABN Amro Group NV see Germany’s economy contracting again in the third quarter, pushing the nation in recession -- it’s first in six and a half years. Many more analysts say the risk of such a scenario has increased significantly after Wednesday’s report.European banks are already preparing for an economic slump. Loan-loss provisions have risen for a second quarter, after declining during all of 2016 and 2017.Shares in Commerzbank AG, which has revamped its business model to focus on lending to corporate and individual clients in Germany, have slumped to a record low.“Earnings are shrinking and entire sectors are in deep crisis,” said Andreas Lipkow, a strategist at Comdirect Bank AG. “The current effects of the trade conflict between the U.S. and China have noticeably arrived at German export companies.”(Adds further profit warnings in fourth paragraph.)\--With assistance from Justina Lee and Iain Rogers.To contact the reporter on this story: Jan-Patrick Barnert in Frankfurt at email@example.comTo contact the editors responsible for this story: Celeste Perri at firstname.lastname@example.org, Jana Randow, Paul GordonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Shares in telecoms firm 1&1 Drillisch and its parent United Internet slumped to six-year lows on Thursday after they trimmed profit guidance due to initial 5G network costs and higher line connection charges. Drillisch shares fell 12% while United Internet's slid by 9% even though United announced a share buyback, responding to steep falls over the past year as concerns grew over the cost of building its own network. CEO Ralph Dommermuth splurged 1.07 billion euros ($1.2 billion) at Germany's auction of 5G frequencies in June, bringing the self-made billionaire a step closer to his dream of founding a fourth German mobile network.
European shares dipped on Thursday, tracking Asian markets lower after more violent protests in Hong Kong and weighed down by doubts over the United States and China's ability to reach a trade deal any time soon. The pan-European STOXX 600 index fell 0.24% at 0709 GMT, with traders also pointing to nerves over the scale of monetary easing priced in to markets over the past two weeks. Europe's telecom providers index bucked the trend to gain 0.3% after Germany completed its 5G mobile spectrum auction, handing a licence to new entrant 1&1 Drillisch and its parent United Internet.
Today we'll take a closer look at United Internet AG (FRA:UTDI) from a dividend investor's perspective. Owning a...
Germany's auction of frequencies for fifth-generation mobile services, now into its 10th week, has drawn 6 billion euros (£5.2 billion) in bids so far. Market leader Deutsche Telekom has complained that the regulator has forced up prices by offering too little spectrum. Deutsche Telekom leads in 13 of the blocks, with competitor Vodafone ahead in 12 and Telefonica Deutschland in eight, according to auction results https://www.bundesnetzagentur.de/DE/Sachgebiete/Telekommunikation/Unternehmen_Institutionen/Frequenzen/OeffentlicheNetze/Mobilfunknetze/mobilfunknetze-node.html published by the Federal Network Agency (BNetzA).
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Germany's auction of spectrum for 5G mobile services resumes on Tuesday after bidding slowed to a crawl last week before the Easter holiday, with the amount pledged by the four firms taking part currently around 5.4 billion euros (£4.7 billion). Were things to wind up near current levels, auction proceeds would be broadly in line with amounts forecast by independent analysts. The auction, being held in a former army barracks in the western city of Mainz, resumes at 1300 CET (1100 GMT) and will only end when no new bids are entered.
BERLIN (Reuters) - The CEO of Deutsche Telekom criticised the amount companies will have to pay to get fifth generation mobile internet spectrum in Germany as the amount of total bids approached 5 billion ...
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Bidding slowed on Wednesday in Germany's 5G mobile spectrum auction, and with offers from the four companies taking part totalling just 2.4 billion euros ($2.7 billion) it could end up being the cheapest ever. Results from the 118th round of the auction https://www.bundesnetzagentur.de/_tools/FrequenzXml/Auktion2019_XML/118.html;jsessionid=E63E2FD08872677D72E48735A476D2BC, being held at an old army barracks in the western city of Mainz, showed fresh bids for only 5 of the 41 spectrum blocks that are on offer in the 2GHz and 3.6GHz bands. Analysts had forecast that proceeds could be as low as 3 billion euros, while cautioning that the entry of tycoon Ralph Dommermuth's 1&1 Drillisch as a fourth player could drive spectrum costs higher.
MAINZ/FRANKFURT (Reuters) - Germany's auction of spectrum for 5G mobile networks drew brisk initial bidding on Tuesday with prospective new entrant 1&1 Drillisch submitting bold offers for the frequencies it covets. Drillisch, run by maverick tycoon Ralph Dommermuth, is vying to become a fourth operator in Europe's largest economy - a move that could benefit consumers but pressure the margins of the three existing players. Drillisch, majority owned by United Internet , put down a marker in the first round by staking more than 20 million euros apiece for 10 of the 41 blocks of spectrum on offer.
Germany's auction of spectrum for 5G mobile networks attracted brisk initial bidding on Tuesday as prospective new market entrant 1&1 Drillisch submitted chunky offers for the frequencies it is interested in. Results of first-round bidding showed that Drillisch, which is vying to become Germany's fourth network operator, had submitted offers of more than 20 million euros (17.1 million pounds) for 10 of the 41 blocks of spectrum on offer.
Germany begins an auction of spectrum for next-generation 5G mobile networks on Tuesday, the outcome of which will play a decisive role in determining whether Europe's largest economy remains competitive in the digital age. It nearly didn't happen: a raft of lawsuits brought by network operators was thrown out by a court only last week. The buildup has also been overshadowed by U.S. pressure on its allies to bar Chinese vendors from participating in building 5G networks due to national security fears.
Germany's auction of frequencies for next-generation 5G networks will begin as planned on March 19, the Federal Network Agency (BNetzA) said on Friday, after a court threw out challenges brought by the country's three operators. Deutsche Telekom, Vodafone and Telefonica Deutschland had filed motions seeking to put the auction on hold, complaining that the terms under which spectrum was being sold off were onerous. "The date stands," a BNetzA spokeswoman said, confirming the auction would start at 10 am (0900 GMT) next Tuesday in Mainz.
FRANKFURT (Reuters) - Germany's Federal Network Agency (BNetzA) said an auction of frequencies for next-generation 5G networks would begin as planned next Tuesday after a court threw out challenges brought ...
Germany has admitted four companies to take part in an auction for fifth-generation (5G) mobile network frequencies, the Federal Network Agency said on Monday. Deutsche Telekom, Vodafone, Telefonica Deutschland and 1&1 Drillisch, a unit of United Internet, can participate in the auction that will begin on March 19, the regulator said. Germany's three main network operators - Deutsche Telekom, Vodafone and Telefonica Deutschland - are all suing the regulator to determine the legality of new preconditions for participating in the auction.
The German government is in the process of deciding what stance to take on China's Huawei Technologies, a spokesman said on Wednesday, adding that it was hugely important to ensure the security of the 5G network Germany wants to build. German ministers were due to meet on Wednesday to discuss how to safeguard security in future 5G mobile networks, two government sources said, amid intense debate over whether to shut Huawei out of the market. Government spokesman Steffen Seibert said the government wanted to minimise security risks but had not yet decided on specific measures.
German Chancellor Angela Merkel said on Tuesday Germany needs guarantees that China's Huawei Technologies will not hand over data to the Chinese state before the telecoms equipment supplier can participate in building its 5G network. Merkel, on a visit to Japan, said that due to security concerns, it was important to speak to the Chinese government so "the company doesn't just simply hand the data to the state". Huawei faces international scrutiny over its ties with the Chinese government and suspicion that Beijing could use Huawei's technology for spying, which the company denies.
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FRANKFURT/BERLIN (Reuters) - Deutsche Telekom proposed a series of measures on Wednesday to ensure that future 5G mobile networks are safe, as debate neared a climax on whether to bar Chinese vendors from Germany on national security grounds. The move by Europe's largest telecoms firm came as the government held a first high-level meeting on whether to shut out Chinese suppliers led by Huawei following U.S. warnings that their equipment may contain 'back doors' open to cyber-espionage. The United States has shut Chinese vendors out of government contracts on security grounds, against the backdrop of an escalating trade dispute with Beijing.