German stocks - Factors to watch on October 1
Frankfurt Oct 1 (Reuters) - The DAX top-30 index looked set to open 0.2 percent higher on Monday, according to premarket data from brokerage Lang & Schwarz at 0626 GMT.
The following are some of the factors that may move German stocks:
Indicated 0.5 percent lower
Commerzbank on Saturday declined to comment on a magazine report that it planned to pay no dividend for its 2013 financial year.
Separately, the bank said on Friday it was cooperating with U.S. prosecutors in a case involving a bank employee charged with conflict-of-interest violations and exposing an Internal Revenue Service whistleblower.
Indicated 0.4 percent lower
Forty Deutsche Bank employees from an office in eastern Germany underwent health checks after a letter containing a suspicious white powder was found at their building on Friday, local German police said, adding that there were no indications of illness. Police expect an analysis of the powder to be available on Monday at the earliest.
Indicated 0.1 percent lower
Daimler is calling in a new sales chief for its important Chinese market as it seeks to boost revenue and catch up with faster-selling rivals BMW and Audi .
Separately, German Transport Minister Peter Ramsauer rejected calls to use government subsidies to spur the sale of electric cars, in remarks published in the Monday edition of German daily paper Bild.
In addition, Daimler board member Wilfrid Porth told Tagespiegel newspaper in its Monday edition that a direct incentive would lead to a much faster development of electric car sales.
Siemens has emerged as favourite to buy Finmeccanica unit AnsaldoEnergia, two people close to the situation said, as the Italian company continues to streamline its operations.
RWE indicated 0.6 percent higher
E.ON indicated 0.3 percent higher
U.S. energy transmission developer Anbaric is mulling taking a stake in German power grid operator TenneT and wants to invest around $4 billion, a Wirtschaftswoche reported.
Indicated 0.4 percent higher
The U.S. Department of Justice and the UK office of Fair Trading approved SAP's takeover of Ariba Inc. on Friday, allowing SAP to open a new front in its battle with Oracle for the internet-based cloud computing market.
Lufthansa is working on a warning system to detect poisonous gas in airplane cabins, as a consequence of a near crash two years ago at its low-cost airline unit Germanwings, Der Spiegel magazine reported.
Indicated 0.2 percent lower in Frankfurt
Key French EADS shareholder Lagardere said the conditions attached to a planned merger of the European aerospace group with Britain's BAE Systems were unsatisfactory and called on management to reexamine the project.
Separately, the bosses of EADS and BAE Systems sought to reassure investors over the benefits of their planned $45 billion merger amid what they described as "myths and misconceptions" over the creation of a European defence giant.
Also, Der Spiegel magazine reported that France and Germany have agreed a common strategy for the merger that would see both governments keeping a stake.
The strong growth in earnings seen by the lubricant maker over the last 10 years cannot continue at the same pace in the long term, Chief Financial Officer Alexander Selent told Boersen Zeitung in an interview on Saturday.
Indicated 0.1 percent higher
The chief executive of family-run investment company Haniel, Stephan Gemkow, is to take over as chairman of Celesio's supervisory board in December, replacing Juergen Kluge, a Haniel spokesman told Reuters on Sunday, confirming a report in the Frankfurter Allgemeine Sonntagszeitung newspaper.
OVERSEAS STOCK MARKETS
Dow Jones -0.4 pct, S&P 500 -0.5 pct, Nasdaq -0.7 pct at Friday's close.
Nikkei -0.8 pct at Monday's close.
Spain's Telefonica will kick off the planned listing of part of its German mobile phone business this week with a pitch to investors based on the strength of the local market and a dividend, three people familiar with the matter said on Friday.
German public sector lender HSH Nordbank rejected a magazine report on Sunday that said the bank saw a rising likelihood that it would need to draw on a 7 billion euro ($9 billion) state guarantee facility.
GERMAN ECONOMIC DATA
Markit's manufacturing Purchasing Managers' Index (PMI), is expected to come in at 47.3 in September, according to the average in a Reuters poll, unchanged from August, when it is released at 0753 GMT.
EUROPEAN FACTORS TO WATCH
REUTERS TOP NEWS ($1 = 0.7773 euros) (Reporting by Marilyn Gerlach, Jonathan Gould and Christoph Steitz)
- Tweet this
- Share this
- Digg this