German stocks - Factors to watch on September 10
FRANKFURT, Sept 10 |
FRANKFURT, Sept 10 (Reuters) - The DAX top-30 index looked set to open flat on Monday, according to premarket data from brokerage Lang & Schwarz at 0610 GMT.
The following are some of the factors that may move German stocks:
Daimler indicated 0.3 pct lower
Volkswagen indicated 0.2 pct lower
Daimler said it will meet with Volkswagen in September to see whether a partnership to build light commercial vehicles can be extended, as VW forges ahead with closer ties to truck manufacturer MAN.
Volkswagen has cut its internal 2012 sales target for Western Europe by 150,000 vehicles, German weekly magazine Der Spiegel said, without citing sources.
German carmaker Porsche expects production of its new Macan compact sports utility vehicle to reach 75,000 by the end of 2013, German weekly WirtschaftsWoche said, without citing sources.
Indicated 0.3 pct lower
Munich Re expects reinsurance prices and conditions will be largely stable when it renews billions of euros worth of contracts with its insurance company clients at the start of 2013, though economic risks complicate the outlook.
Indicated 0.2 pct lower
Allianz will reshuffle responsibilities among top board members as part of a succession planning process to eventually replace current Chief Executive Michael Diekmann, Financial Times Deutschland said in an advance copy of its Monday edition.
Indicated 0.9 pct higher
Lufthansa's cabin crew will not strike for the next six weeks while labour representatives and company executives engage in a mediation process, union representative Nicoley Baublies told Reuters on Sunday.
Indicated 1.2 percent lower
Peer Intel Corp cut its third-quarter revenue estimate by more than expected on Friday due to a decline in demand for its chips as customers reduce inventories and businesses buy fewer personal computers.
Indicated 0.3 pct higher in Frankfurt
EADS is on the cusp of a deeper management shake-up at its defence unit Cassidian, Financial Times Deutschland said in an advance copy of its Monday edition.
Airbus also expects the favourable dollar-euro exchange rate to boost earnings by 1 billion euros, Airbus CEO Fabrice Bregier told WirtschaftsWoche.
German insurer Talanx, which is preparing to float its shares very shortly, aims to pay shareholders between 35 and 45 percent of this year's net profits as a dividend, Chief Executive Herbert Haas told German weekly Frankfurter Allgemeine Sonntagszeitung.
Indicated 0.4 pct lower
Rhoen-Klinikum Chief Executive Wolfgang Pfoehler does not believe shareholders will hinder further strategic steps after its takeover by rival Fresenius failed, German daily Sueddeutsche Zeitung said on Saturday.
OVERSEAS STOCK MARKETS
Dow Jones up 0.1 pct, S&P 500 up 0.4 pct, Nasdaq flat at Friday's close.
Nikkei down 0.03 pct at Monday's close.
EUROPEAN FACTORS TO WATCH
REUTERS TOP NEWS (Reporting by Edward Taylor and Harro ten Wolde, Editing by Jonathan Gould)
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