German stocks - Factors to watch on Nov 28

Wed Nov 28, 2012 2:31am EST

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FRANKFURT - The DAX top-30 index looked set to open 0.2 percent lower on Wednesday, according to premarket data from brokerage Lang & Schwarz at 0713 GMT.

The following are some of the factors that may move German stocks:

SIEMENS

Indicated 0.1 percent lower

The engineering group is expected to publish details of the long-awaited spin-off of Osram on Wednesday after its supervisory board meets to set out a future course for the lighting unit.

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DEUTSCHE BANK

Indicated 0.8 percent lower

Deutsche Bank's compliance chief Stephan Leithner and former board member Hugo Baenziger face skeptical German lawmakers on Wednesday as parliamentarians seek answers about how banks manipulated global benchmark interest rates.

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THYSSENKRUPP

Indicated 1.1 percent lower

Italian car components maker Sogefi said on Tuesday it has ended talks to buy ThyssenKrupp's suspension business, Eibach Federn.

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CONTINENTAL AG

Indicated 0.4 percent lower

Continental board member Nikolai Setzer told German daily Handelsblatt that the auto supplier and tyre maker wants to narrow the gap to competitors Bridgestone, Michelin and Goodyear by expanding in emerging markets. Continental has a strategy to cut its dependency on Europe by expanding on the American continent.

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METRO, CELESIO

Metro indicated 1.7 percent lower, Celesio 3.7 percent lower

Family-owned conglomerate Haniel said it would sell down stakes in retailer Metro to 30.01 percent and its stake in drugs distributor Celesio to 50.01 percent as a way to reduce its debt levels to below 2 billion euros ($2.59 billion).

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OVERSEAS STOCK MARKETS

Dow Jones down 0.7 pct, S&P 500 down 0.5 pct, Nasdaq down 0.3 pct at Tuesday's close.

The Nikkei closed 1.2 pct lower.

GERMAN ECONOMIC DATA

German preliminary Harmonised Index of Consumer Prices (HICP) for November, seen -0.1 percent mm, and +1.9 percent yy. German preliminary November CPI, seen -0.1 percent mm and +1.9 percent yy.

EUROPEAN FACTORS TO WATCH

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($1 = 0.7717 euros) (Reporting by Edward Taylor and Ludwig Burger and Andreas Cremer.)

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