German stocks - Factors to watch on March 20

FRANKFURT, March 20 Wed Mar 20, 2013 3:38am EDT

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:

EURO ZONE

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.

DEUTSCHE BANK

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.

Related news

Volkswagen

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.

Related news

DEUTSCHE TELECOM

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.

Related news

COMMERZBANK

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.

Related news

E.ON RWE

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.

Related news

SIEMENS

Indicated 0.3 percent higher

Siemens says says sells 250 million euro Atos convertible bond.

Related news

METRO

Indicated unchanged

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.

Related news

AIR BERLIN

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.

Related news

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

DIARIES

REUTERS TOP NEWS

($1 = 0.7680 euros) (Reporting by Edward Taylor, Ludwig Burger and Peter Dinkloh)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.