German stocks - Factors to watch on January 7
FRANKFURT Jan 7 (Reuters) - The DAX top-30 index looked set to open 0.1 percent lower on Monday, according to premarket data from brokerage Lang & Schwarz at 0740 GMT.
The following are some of the factors that may move German stocks:
DEUTSCHE BANK COMMERZBANK
Deutsche indicated 0.6 percent higher
Commerzbank indicated 0.5 percent higher
German regulator BaFin will scrutinise pay policies at two dozen top banks including Deutsche, to ensure lenders are correctly implementing stricter bonus rules, Frankfurter Allgemeine Sonntagszeitung said, citing a regulatory source.
Commerzbank's online brokerage unit Comdirect expects to reach its pre-tax profit target of 85 million to 90 million euros ($111 million-$117 million) in 2012, Chief Executive Thorsten Rietmeyer told German weekly Frankfurter Allgemeine Sonntagszeitung.
Indicated 0.4 percent lower
Juergen Hambrecht, the former chief executive of Germany's BASF, will delay an attempted comeback to the world's largest chemical maker by sales until 2014, he told German weekly Frankfurter Allgemeine Sonntagszeitung.
Indicated 0.8 percent lower
Volkswagen will expand its business of selling used approved cars in Germany, its head of sales and marketing for passenger cars in Germany told industry publication Automobilwoche.
Indicated 0.3 percent lower
BMW will substantially cut sales incentives for cars in Germany and focus on maintaining profit margins rather than market share, Chief Executive Norbert Reithofer told German weekly WirtschaftsWoche.
Indicated 0.3 percent higher
China Investment Corporation is set to take a 4-10 percent stake in Daimler, Sing Tao Daily reported on Monday, citing the People's Daily Online.
German business software maker SAP sees potential for one million new customers in China, five times the number it currently has world-wide, German weekly paper Frankfurter Allgemeine Sonntagszeitung said.
The drugmaker said it submitted VEGF Trap-Eye (aflibercept) in Japan for treatment of macular edema following central retinal vein occlusion.
The healthcare company announced the early redemption of 650 million euros ($848 million) in senior notes due 2016.
The airline said that Wolfgang Prock-Schauer will replace Hartmut Mehdorn as Chief Executive on Jan 7.
GSW indicated 0.4 percent higher
German property company GSW Immobilien met its 2012 profit targets and may consider another capital increase if market conditions are favourable, its chief executive told newspaper Welt am Sonntag.
German residential property group LEG said that it is planning to list its shares on the stock market in the first half of the year.
Solarworld indicated 3.9 percent higher
New solar power installations in Germany hit a record high last year but tapered off in the fourth quarter as subsidies were cut, Environment Ministry data showed on Saturday.
OVERSEAS STOCK MARKETS
Dow Jones closed 0.1 pct higher on Friday, S&P 500 up 0.3 pct, Nasdaq up 0.1 pct.
Nikkei down 0.8 pct at Monday's close.
EUROPEAN FACTORS TO WATCH