German stocks - Factors to watch on April 4
FRANKFURT, April 4
FRANKFURT, April 4 (Reuters) - The DAX top-30 index looked set to open 0.4 percent higher on Thursday, according to premarket data from brokerage Lang & Schwarz at 0616 GMT.
The following are some of the factors that may move German stocks:
Germany's central bank has launched a probe into claims Deutsche Bank misvalued credit derivatives that allowed the bank to hide up to $12 billion in losses, the Financial Times reported on Wednesday, citing people familiar with the situation. The bank dismissed the allegations as being unfounded.
Indicated 0.2 percent higher
A women's rights organization will protest outside Reebok's Manhattan store on Thursday, demanding the athletic goods retailer cut ties with rapper Rick Ross over a song whose lyrics it says boasts about drugging and raping a woman.
Indicated 0.7 percent higher
Commerzbank's effort to revamp its private clients business is starting to bear fruit, with new business in construction financing increasing nearly 50 percent in the first two months of the year, management board member Martin Zielke told Handelsblatt, the daily's online edition said late on Wednesday.
Indicated 0.2 percent higher
The company's U.S. unit T-Mobile USA said its total customer base increased 579,000 to 34 million in the first quarter. Source text for Eikon:
FRESENIUS MEDICAL CARE
Indicated 0.8 percent higher
Fresenius Medical Care, the world's largest dialysis group, said it would buy back shares worth as much as 385 million euros ($494.7 million) over the next six months using cash and existing loans.
No indication available
The engineering group said shareholder Elector GmbH had requested the company to convene an extraordinary shareholders meeting to replace its three-member supervisory board. It said the management board has not yet taken a decision.
OVERSEAS STOCK MARKETS
Dow Jones -0.8 pct, S&P 500 -1.1 pct, Nasdaq -1.1 pct at Wednesday's close.
Nikkei +2.2 pct at Thursday's close.
STADA ARZNEIMITTEL - Jefferies cuts the stock to "underperform" from "hold" and raises its price target to 25 euros from 23 euros.
KUKA - Morgan Stanley cuts the stock to "equal weight" from "overweight" and raises its price target to 35 euros from 33.50 euros.
General Motors' management will meet with managers of Opel from April 9 to 11 to discuss the planned closure of the German brand's plant in Bochum as well as sales strategies, German daily Bild reported on Thursday.
Separately, Opel said on Wednesday that it had found no evidence in a crash test on its new Mokka SUV that a controversial air conditioning refrigerant could catch fire in a collision and release toxic fumes.
The German media conglomerate said on Thursday it would sell part of its stake in broadcaster RTL Group before the European summer break.
GERMAN ECONOMIC DATA
German services PMI for March due 0753 GMT. Seen at 51.6.
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