German stocks - Factors to watch on March 18
FRANKFURT, March 18 |
FRANKFURT, March 18 (Reuters) - The DAX top-30 index looked set to open 1.4 percent lower on Monday, according to premarket data from brokerage Lang & Schwarz at 0716 GMT.
The following are some of the factors that may move German stocks:
EUROPEAN DEBT CRISIS
Stocks and commodities fell sharply in Asia on Monday as investors were rattled by a radical bailout plan for Cyprus and piled into safer assets including the U.S. dollar, gold and sovereign debt.
The move also weighed on German stocks in pre-market trading, with shares of financial institutions particularly hit.
Indicated 0.9 percent lower
The company will recall vehicles in China to fix a gearbox problem after coming under criticism from state-run China Central Television's (CCTV) annual corporate malpractice expose.
Indicated 2.5 percent lower
The 99-year old head of a trust that holds a blocking minority in steelmaker ThyssenKrupp has no intention of stepping down, he told a German newspaper, even after a shake-up that saw the company's chairman resign.
Separately, Brazilian steelmaker CSN, or Cia Siderúrgica Nacional SA, is still in the race to purchase ThyssenKrupp's Steel Americas unit, two sources with knowledge of the situation told Reuters on Friday.
E.ON indicated 1.1 percent lower
RWE indicated 1.1 percent lower
The Canada Pension Plan Investment Board (CPPIB), one of the world's biggest pension funds, could be interested in bidding for nuclear fuel producer Urenco - in which E.ON and RWE own a third - the Sunday Times reported without citing sources.
Separately, E.ON has reached a deal to purchase half of Brazilian billionaire Eike Batista's stake in MPX Energia , the energy arm of his EBX conglomerate, a local newswire reported on Friday.
Indicated 3.3 percent lower
Germany's biggest lender aims to win market share in the area of Germany's medium-sized businesses, its co-Chief Executive Juergen Fitschen told German business daily Handelsblatt in a interview published on Monday.
Indicated 2.3 percent lower
The German government will propose Markus Kerber, the head of the BDI industrial association, for Commerzbank's supervisory board, a financial industry source said on Saturday, confirming a newspaper report.
Indicated 1.0 percent higher in Frankfurt
The company's Airbus unit has landed a record order potentially worth $20 billion at list prices from Indonesia's Lion Air, sources familiar with the matter said on Sunday, smashing rival Boeing's grip on one of the world's fastest-growing airlines.
Indication not available
The telecoms operator is looking into a possible bond issue to finance its debt more cheaply following its spin-off from Spanish parent Telefonica last year, its finance chief told a German newspaper.
German TV and publishing group Bertelsmann is set to start the placement of part of its stake in RTL Group in early April, two people familiar with the matter said on Friday.
OVERSEAS STOCK MARKETS
Dow Jones -0.2 pct, S&P 500 -0.2 pct, Nasdaq -0.3 pct at Friday's close.
Nikkei -2.7 pct at Monday's close.
EUROPEAN FACTORS TO WATCH
REUTERS TOP NEWS (Reporting by Christoph Steitz)
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