German stocks - Factors to watch on March 20
FRANKFURT, March 20
FRANKFURT, March 20 (Reuters) - The DAX top-30 index looked set to open 0.5 percent higher on Wednesday, according to premarket data from brokerage Lang & Schwarz at 0734 GMT.
The following are some of the factors that may move German stocks:
Cyprus's parliament overwhelmingly rejected a proposed levy on bank deposits as a condition for a European bailout, throwing international efforts to rescue the latest casualty of the euro zone debt crisis into disarray.
The European Central Bank said it remained committed to providing liquidity within certain limits after the rejection by Cyprus's parliament.
Indicated 0.6 percent higher
Deutsche Bank said mortgage-related lawsuits and regulatory investigations have forced it to revise downwards its 2012 earnings.
German regulator Bafin said it would pass on preliminary findings from its probe into Deutsche Bank over suspected manipulation of interbank lending rates to the German finance ministry by the end of March.
Indicated 0.7 percent higher
Volkswagen, which sells more cars in China than any other foreign firm, will recall 384,181 vehicles there to fix a long-standing gearbox problem, China's quality watchdog said on Wednesday.
Indicated 0.5 percent higher
MetroPCS Communications said on Tuesday that Deutsche Telekom's incoming chief executive, Timotheus Hottges, would become chairman of its board after its proposed merger with T-Mobile USA.
Indicated 0.7 percent higher
Germany's corporate governance commission is on the lookout for a new chairman after Klaus-Peter Mueller, who is also supervisory board chairman of Commerzbank, told fellow commission members he plans to step down from the post this summer, two people familiar with the commission's thinking said on Tuesday.
E.ON indicated 0.4 percent higher
RWE indicated 0.2 percent higher
The Netherlands said it is evaluating what to do with its stake in Urenco, a uranium enrichment firm co-owned together with E.On and peer RWE.
German government talks to introduce a brake on rising energy prices with a 3-billion euro a year contribution from industry, the renewable sector and taxpayers are on the verge of collapse, government and opposition sources said on Tuesday.
Indicated 0.3 percent higher
Siemens says says sells 250 million euro Atos convertible bond.
The German retailer said it would up its efforts to improve its finances as it sees no relief in the short term from weak consumer spending in Europe that hit profits in 2012.
Indicated 0.4 percent higher
Germany's Air Berlin AB1.DE said it saw 2013 as a year of "rebuilding" after announcing a new savings programme in October year but stopped short of providing an earnings outlook.
OVERSEAS STOCK MARKETS
Dow Jones +0.03 pct, S&P 500 -0.2 pct, Nasdaq +0.3 pct at Tuesday's close.
Nikkei down +2 pct at Wednesday's close.
GERMAN ECONOMIC DATA
February producer prices set to be released at 0700 GMT. Seen at 0.2 percent m/m and at 1.5 percent y/y.
EUROPEAN FACTORS TO WATCH
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