German stocks - Factors to watch on September 9
FRANKFURT, Sept 9
FRANKFURT, Sept 9 (Reuters) - The DAX top-30 index looked set to open 0.1 percent lower on Monday, according to premarket data from brokerage Lang & Schwarz at 0620 GMT.
The following are some of the factors that may move German stocks:
Indicated 2 percent higher
The world's No.1 reinsurer played down the threat to its reinsurance portfolio from insurance investors like pension funds, saying it expected a stable outcome when it renews contracts with its insurance company clients in the coming months.
Indicated 1.3 percent lower
The group is facing a growing number of reports of suspected undesirable side-effects from its stroke prevention pill Xarelto, German magazine Der Spiegel reported, citing data from a German watchdog.
Separately, the group was contacted by local authorities in China as part of a broader investigation of the industry, Chief Executive Marijn Dekkers told German magazine WirtschaftsWoche in an interview, adding the company has strict compliance regulation its employees must follow.
Indicated 0.1 percent lower
German carmaker BMW faces a fine of at least $100 million euros in India for alleged violations of import rules, WirtschaftsWoche reported.
Separately, BMW may build an additional factory outside of Europe, Chief Executive Norbert Reithofer told Sueddeutsche Zeitung on Monday.
Indicated 0.1 percent lower
German carmaker Daimler plans to build a new Mercedes factory in Brazil to benefit from growing demand for compact cars in the country, its chief executive told a German newspaper.
Separately, the group is examining the joint production of small luxury vehicles with Japan's Nissan Motor at a Nissan plant in Mexico, and expects a decision by the end of the year, a group board member told a German newspaper.
In addition, the group plans to start selling a self-driving car by 2020 as part of its campaign to regain the top spot among premium carmakers, its development chief said.
The group expects production of vehicles based on its new modular assembly architecture to soar in the next few years, its chief financial officer told financial newspaper Boersen-Zeitung.
Separately, VW's Porsche unit denied a report in German weekly Automobilwoche saying it is facing problems in the manufacturing of its flagship 911 model.
Siemens indicated 0.6 percent lower
BSH Bosch und Siemens Hausgeraete, a joint venture of Siemens and Robert Bosch, on Saturday denied a magazine article saying the recall of 5 million dishwashers would cost it up to 700 million euros.
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Indicated 0.3 percent higher
Deutsche Telekom has applied for a sports betting licence which could pit the telecommunications company against online gambling companies competing for a limited number of concessions.
Vodafone may fail to reach the 75 percent threshold of acceptances from shareholders needed to clinch Germany's largest cable operator Kabel Deutschland, the Financial Times said on Monday.
Vodafone said in a statement on Monday that the European Commission alone would need to clear the merger.
The operator of Frankfurt airport expects passenger traffic at Germany's biggest airport to rise in August, the group's chief financial officer told a German paper.
Chief Executive Thomas Rabe is not available for other positions, a spokesman for the company said, denying a press report in French newspaper Les Echos that had mentioned Rabe as a potential successor the current CEO of Vivendi.
Indicated 0.2 percent lower
The pharma group aims to generate annual sales of more than 1 billion euro by 2020, Chief Executive Gregor Schulz told German paper Welt am Sonntag, adding there were only limited takeover opportunities in the market.
Indicated 15.5 percent higher
Investors interested in Praktiker's up-market brand Max Bahr include a consortium led by German group Hellweg as well as Einkaufsbuero Deutscher Eisenhaendler GmbH (E/D/E), German magazine WirtschaftsWoche reported, citing financial sources.
BOFAML cuts E.ON to "underperform" from "neutral" -traders
OVERSEAS STOCK MARKETS
Dow Jones -0.1 pct, S&P 500 +0.1 pct, Nasdaq +0.03 pct at Friday's close.
Nikkei +2.48 pct at Monday's close.
EUROPEAN FACTORS TO WATCH
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