German stocks - Factors to watch on July 16
FRANKFURT, July 16
FRANKFURT, July 16 (Reuters) - The DAX top-30 index looked set to open unchanged on Tuesday, according to premarket data from brokerage Lang & Schwarz at 0623 GMT.
The following are some of the factors that may move German stocks:
BMW indicated 0.4 percent lower
Daimler indicated 0.4 percent higher
Volkswagen indicated 0.1 percent lower
European car registrations dropped 6.3 percent to 1,175,363 million cars in June from 1,254,022 million a year ago, according to industry figures on Tuesday.
Separately, BMW's CEO Norbert Reithofer said he does not expect the western European car market to pick up before the middle of next year.
Also, U.S. safety regulators have opened a probe of an estimated 218,000 Mercedes C-Class sedans after receiving consumer complaints claiming a failure of rear turn signals and brake lights.
Indicated 1.4 percent higher
Spain's Banco Santander has considered investing in Germany's second-biggest bank, German daily Die Welt reported, citing financial sources.
Indicated 0.2 percent lower
Credit rating agency Fitch raised its rating on the car parts and tyre maker by three notches to "BBB" from "BB", pushing it to investment grade, with a stable outlook.
Indicated 0.1 percent higher
Deutsche Telekom is keeping its options open as to whether it floats or sells EE, its joint venture with French rival Orange, an executive said on Monday.
CEO Marcelino Fernandez Verdes intends to restructure the construction company's European operations, moving some administrative staff from the holding company to positions directly within the group's operating units, he told Handelsblatt in an interview.
OVERSEAS STOCK MARKETS
Dow Jones +0.1 pct, S&P 500 +0.1 pct, Nasdaq +0.2 pct at Monday's close.
Nikkei +0.6 pct at Tuesday's close.
DAIMLER - Societe Generale raises its recommendation on the stock to "buy" from "hold", hikes its target price to 60 euros from 43 euros.
LUFTHANSA - Goldman Sachs raises the stock to "neutral" from "sell", according to traders.
GERMAN ECONOMIC DATA
German July ZEW investor sentiment index due at 0900 GMT. Economic sentiment index seen at 39.6, current conditions seen at 9.0.
EUROPEAN FACTORS TO WATCH
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- BofA reports first quarterly loss since 2011 on lofty legal bill
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