German stocks - Factors to watch on January 2
FRANKFURT Jan 2 (Reuters) - The DAX top-30 index looked set to open 2.3 percent higher on Wednesday, according to premarket data from brokerage Lang & Schwarz at 0717 GMT.
The following are some of the factors that may move German stocks:
Indicated 1.6 percent higher
Daimler CEO Zetsche hopes to return the automaker to the top spot in the premium car market ahead of Audi and BMW by 2020, he said in an interview with Boersen-Zeitung on Saturday.
Indicated 2.3 percent higher
Consolidation of European banks is not yet at an end and Germany's financial sector will have to change, Deutsche Bank's co-CEO Juergen Fitschen said in an interview with Boersen-Zeitung on Saturday.
Indicated 1.4 percent higher
The engineering group's CEO told Frankfurter Allgemeine Sonntagszeitung that he expects 2013 to be tough for the industry but that there could be some positive developments.
Indicated 0.8 percent higher
The drugmaker's clot prevention drug Xarelto will face more competition after U.S. health regulators approved Eliquis, developed by Bristol Myers-Squibb and Pfizer, for treatment in patients with atrial fibrillation, or irregular heartbeats.
Indicated 1.6 percent higher
Spanish utility Iberdrola is selling its French wind park unit to a consortium including General Electric and Munich Re for about 400 million euros ($529 million). GE will own 40 percent of the unit and Munich Re another 40 percent. The renewable unit of France's EDF will own the remaining 20 percent.
Indicated 1.9 percent higher
The CEO of the group's department store chain Kaufhof told newspaper Welt am Sonntag that Christmas trading had been satisfactory, although bargain-hunting shoppers had waited until late to spend on presents, reflecting a trend across Europe.
OVERSEAS STOCK MARKETS
Dow Jones +1.3 pct, S&P 500 +1.7 pct, Nasdaq +2.0 pct at Monday's close. Closed on Tuesday due to the New Year's Day holiday.
Nikkei +0.7 pct on Dec. 28. Japanese market trading will resume on Jan. 4
The European unit of General Motors is planning to cut production by more than 10 percent in 2013 in light of the weak European car market, Spiegel reported on Sunday.
SCHMOLZ + BICKENBACH
Several financial investors, including Apollo and Triton, are considering making bids for specialty steel maker Schmolz + Bickenbach.
GERMAN ECONOMIC DATA
Dec preliminary Harmonised Index of Consumer Prices (HICP) due on Wednesday, seen up 0.8 pct m/m, up 2.0 pct y/y.
December preliminary Consumer Price Index (CPI) seen up 0.7 pct m/m, up 1.9 pct y/y.
German Markit Manufacturing PMI due at 0853 GMT, seen at 46.3.
EUROPEAN FACTORS TO WATCH
REUTERS TOP NEWS (Reporting by Marilyn Gerlach, Victoria Bryan and Ludwig Burger)
- Malaysia Airlines plane missing, presumed crashed in South China Sea |
- China draws 'red line' on North Korea, says won't allow war on peninsula
- Malaysian plane crashed off Vietnam coast: state media
- No signal picked up from missing Malaysia Airlines plane-Vietnam official