German stocks - Factors to watch on February 3
FRANKFURT Feb 3 (Reuters) - The DAX top-30 index looked set to open 0.2 percent lower on Monday, according to premarket data from brokerage Lang & Schwarz at 0716 GMT.
The following are some of the factors that may move German stocks:
Deutsche Bank indicated 0.3 percent lower
Commerzbank indicated 1.4 percent higher
The European Central Bank will reveal more detail on Monday on how it plans to go about checking that top euro zone banks have the risks on their balance sheets under control.
Separately, German weekly magazine WirtschaftsWoche reported that Commerzbank is in talks with private equity firms Apollo and Cerberus to sell a 4 billion euro ($5.4 billion) portfolio of Spanish property loans.
Indicated 0.4 percent lower
Peter Schwarzenbauer, BMW board member in charge of Mini, wants to limit the brand to producing four or five models, he told WirtschaftsWoche. "Sometimes less is more," he told the magazine.
BASF indicated 0.2 percent lower
Bayer indicated 0.1 percent higher
Lanxess indicated 0.2 percent higher
A proposal to force German industrial companies to pay a surcharge on power they produce for their own use would cost the chemicals sector about 160 million euros a year, limiting its leeway for raising wages, the sector's employers' association BAVC told Frankfurter Allgemeine Zeitung on Saturday.
Indicated 0.5 percent lower
Deutsche Bank's fund management unit DWS is growing impatient with German airline Lufthansa's delay in appointing a new chief executive, and would like Carsten Spohr, head of the passenger airlines business, to be promoted, Frankfurter Allgemeine Zeitung said.
Indicated 0.9 percent lower
German electricity producer RWE will ask investors for provisional approval to issue new shares, Chief Executive Peter Terium told German radio, although he added that there were currently no plans for a capital increase.
Investors including U.S. hedge fund Elliott Associates have escalated a legal battle against members of Porsche's supervisory board by seeking 1.8 billion euros in damages from Wolfgang Porsche and his cousin Ferdinand Piech.
Separately, Volkswagen has offered an attractive package to former Daimler executive Andreas Renschler to head up its trucks operations, a VW source familiar with the matter told Reuters on Friday, confirming newspaper reports, but without giving details.
Indicated 0.7 percent higher
The real estate group said an external audit has cleared its chief executive of allegations of poor judgment in some of his business decisions.
Indicated 0.4 percent lower
The company sees its 2014 revenues and earnings up slightly after saying its 2013 operating profit came in just above the year-earlier level of 35.2 million euros.
OVERSEAS STOCK MARKETS
Dow Jones -0.9 pct, S&P 500 -0.7 pct, Nasdaq -0.5 pct at Friday's close.
Nikkei -2 pct at Monday's close.
GERMAN ECONOMIC DATA
German January Markit/BMI manufacturing PMI due at 0853 GMT. Seen unchanged at 56.3.
EUROPEAN FACTORS TO WATCH
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