German stocks - Factors to watch on March 22
FRANKFURT, March 22
FRANKFURT, March 22 (Reuters) - The DAX top-30 index looked set to open 0.3 percent lower on Friday, according to premarket data from brokerage Lang & Schwarz at 0710 GMT.
The following are some of the factors that may move German stocks:
Eike Batista, the controlling shareholder of Brazilian energy company MPX Energia SA, confirmed on Thursday he is in talks to sell a stake in the company to E.ON.
Indicated 0.6 percent lower
The airline begins wage talks with union Verdi after pre-emptive strikes on Thursday forced the airline to cancel almost 700 flights.
Indicated 0.4 percent lower
Wage talks with Verdi due to begin.
MAN SE, VOLKSWAGEN
MAN indicated 3.6 percent lower
Volkswagen indicated 0.4 percent lower
Remaining outside shareholders in MAN SE may receive a cash compensation of 80.89 per share and dividend of 3.07 euros (or 3.30 euros before tax) per share if a domination and profit and loss agreement with VW is approved at the AGM.
Indicated 0.7 percent lower
The company announced plans to change its legal form to that of an SE (societas europaea), and that it planned to seek approval for the move at the AGM in 2014.
Indicated 0.5 percent lower
Annual press conference. The steelmaker has already reported a pretax loss of 29 million eur for 2012 and said it sees 2013 profit in the low double-digit million euro range.
Indicated 1.7 percent lower
The chairman and two non-executive directors of Hochtief's Australian unit Leighton resigned on Friday, after concluding that "Hochtief no longer supports an independent board at Leighton".
Indicated 0.7 percent lower
The German real estate company swung to a 2012 net profit of 47.7 million euros ($61.65 million) from a 17.9 million loss in 2013.
Indicated 0.5 percent higher
The German real estate company said it expected funds from operations to increase to 73-78 million euros in 2013 after reaching 64.2 million in 2012.
OVERSEAS STOCK MARKETS
Dow Jones -0.6 pct, S&P 500 -0.8 pct, Nasdaq 1 pct at Thursday's close.
Nikkei -2.4 pct at Friday's close.
GERMAN ECONOMIC DATA
Ifo index for March due at 0900 GMT. Business climate seen at 107.6, current conditions seen at 110.4, expectations seen at 104.9.
Separately, the finance ministry said on Friday that the German economy will likely gain traction later in 2013 despite a subdued start to the year which has included data showing the industrial sector performing poorly.
EUROPEAN FACTORS TO WATCH
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