German stocks - Factors to watch on August 20
FRANKFURT Aug 20 (Reuters) - The DAX top-30 index looked set to open 0.7 percent lower on Tuesday, according to premarket data from brokerage Lang & Schwarz at 0616 GMT.
The following are some of the factors that may move German stocks:
Indicated 1.5 percent lower
The German government wants to limit golden handshakes for two Commerzbank board members who are leaving to 1 million euros ($1.3 million), Handelsblatt newspaper reported, citing government sources.
Indicated 0.7 percent lower
Germany's biggest lender aims to grow in China both organically and via acquisitions to benefit from expected economic reforms there, Handelsblatt newspaper cited Deutsche Bank's Asia chief Alan Cloete as saying.
Indicated 0.5 percent lower
Volkswagen's sports car brand Porsche expects another record year this year after vehicle sales rose 17 percent in the first seven months of the year, Porsche's Chief Executive Matthias Mueller said, according to German paper Westfalen-Blatt.
DEUTSCHE WOHNEN, GSW IMMOBILIEN
Deutsche Wohnen indicated 0.7 percent lower
GSW indicated 10.9 percent higher
German property group Deutsche Wohnen launched an all-share bid for rival GSW Immobilien, valuing the company's equity at 1.75 billion euro, in a deal that would create a company focused on the thriving real estate market of Berlin.
Up 0.1 percent in Frankfurt
The lighting company's Chief Executive Wolfgang Dehen told Frankfurter Allgemeine Zeitung that investors would rather see Osram's stock listed on Germany's mid-cap MDAX index than technology index TecDAX.
OVERSEAS STOCK MARKETS
Dow Jones -0.5 pct, S&P 500 -0.6 pct, Nasdaq -0.4 pct at Monday's close.
Nikkei -2.6 pct at Tuesday's close.
SALZGITTER - Morgan Stanley cuts to "underweight" from "equal weight", raises target price to 25.9 euros from 25.8 euros. Citigroup cuts to "neutral" from "buy", cuts target price to 34 euros from 36 euros.
GERMAN ECONOMIC DATA
July producer prices -0.1 pct m/m, +0.5 pct y/y. Were seen +0.2 pct m/m, +0.7 pct y/y.
EUROPEAN FACTORS TO WATCH