German stocks - Factors to watch on March 5
FRANKFURT, March 5
FRANKFURT, March 5 (Reuters) - The DAX top-30 index looked set to open 0.6 percent lower on Monday, according to premarket data from brokerage Lang & Schwarz at 0730 GMT.
The following are some of the factors that may move German stocks:
Deutsche Bank indicated 0.8 pct lower
Germany's banks have taken less than 10 percent of the 530 billion euros of cheap funding provided by the European Central Bank (ECB) this week, Die Welt reported on Monday.
Indicated 0.1 pct higher
The German lender said a portion of a silent participation held by The German Financial Market Stabilisation Fund will be converted into new shares, resulting in the strengthening of its core tier 1 capital through 2017 by post-tax about 1.2 billion euros.
Indicated 0.1 pct higher in Frankfurt
The European aerospace and defence group is considering doing without part of a development loan for its Airbus unit worth 500 million euros from the German government as a row bubbles over the group moving operations from Germany, FAZ reported.
Indicated 0.5 pct lower
The group's Mercedes brand is planning to increase production of its new B-class compact car due to high demand, Mercedes' sales chief Joachim Schmidt told Automobilwoche.
Volkswagen indicated 0.7 pct lower
Audi will invest 3 billion euros in China to double its dealership network, China head Dietmar Voggenreiter told WirtschaftsWoche, adding that Audi hopes to grow faster than the Chinese market's predicted growth of 8-10 pct this year.
Indicated 0.3 pct lower
The German steelmaker said repeating last year's performance in 2012 would be challenging after posting a pretax profit of 201.6 million euros, which was ahead of expectations.
Indicated 18.3 pct higher
Gagfah and the city of Dresden have agreed to a 40 million euro settlement of a legal dispute in which the city had demanded penalties of more than 1 billion euros from the real estate group, Gagfah said on Friday.
Related company news
OVERSEAS STOCK MARKETS
Dow Jones -0.02 pct, S&P 500 -0.3 pct, Nasdaq -0.4 pct at Friday's close.
Nikkei -0.8 pct at Monday's close.
HEIDELBERGCEMENT - ING has cut the stock to 'hold' from 'buy'.
PROSIEBENSAT 1 - Berenberg has cut the stock to 'hold' from 'buy'.
GERMAN ECONOMIC DATA
February services PMI due at 0853 GMT. Seen at 52.6.
EUROPEAN FACTORS TO WATCH