German stocks - Factors to watch on September 24

FRANKFURT, Sept 24 Tue Sep 24, 2013 2:35am EDT

FRANKFURT, Sept 24 (Reuters) - The DAX top-30 index looked set to open 0.1 percent higher on Tuesday, according to premarket data from brokerage Lang & Schwarz at 0621 GMT.

The following are some of the factors that may move German stocks:

BASF

Indicated unchanged

Germany's Wintershall, the oil and gas arm of chemicals group BASF, said it signed an agreement to search for oil in Argentina's "Vaca Muerta" field, considered one of the largest shale reserves in the western hemisphere.

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DAIMLER

Indicated unchanged

Daimler's Mercedes-Benz unit plans to open a museum in Beijing to showcase the heritage of the brand, the luxury carmaker's latest bid to boost flagging sales in China where it is outsold two to one by Audi and BMW.

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EVONIK

Indicated unchanged

The specialty chemicals maker said late on Monday it aims to reduce administrative costs by 250 million euros ($338 million) per year from 2016, becoming the latest in a string of European chemicals maker to announce cutbacks.

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Patrizia Immobilien

Indicated unchanged

The real estate company said late on Monday it bought 450,000 square metres of office space in the German state of Hesse with a fair value of 800 million euros from CA Immobilien Anlagen AG.

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ANALYSTS' VIEWS

TELEFONICA DEUTSCHLAND - Bernstein raises to "outperform"

EVONIK - HSBC starts with "neutral"; price target 32 euros

OVERSEAS STOCK MARKETS

Dow Jones +0.3 pct, S&P 500 +0.5 pct, Nasdaq +0.3 pct at Monday's close.

Nikkei -0.3 pct at 0500 GMT.

GERMAN ECONOMIC DATA

Business climate index for September from the Ifo think tank due at 0800 GMT, seen at 108.2, up from a reading of 107.5 in August.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS ($1 = 0.7412 euros) (Reporting by Peter Dinkloh and Ludwig Burger)

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