German stocks - Factors to watch on February 4
FRANKFURT Feb 4 (Reuters) - The DAX top-30 index looked set to open 0.9 percent lower on Tuesday, according to premarket data from brokerage Lang & Schwarz at 0710 GMT.
The following are some of the factors that may move German stocks:
BMW indicated 1.3 percent lower
Daimler indicated 2.1 percent lower
Volkswagen indicated 2.3 percent lower
Car sales data for Germany to be released later on Tuesday.
Data published on Monday showed U.S. vehicle sales of Volkswagen down 19 percent, Mercedes-Benz down 1.5 percent, BMW up 3 percent.
Separately, workers at VW's Tennessee plant are to vote on whether they wish to be represented by the United Auto Workers union will be held Feb. 12-14, the German automaker and U.S. union said on Monday.
Commerzbank indicated 3.6 percent lower
Deutsche Bank indicated 1.2 percent lower
European banks have loaned in excess of $3 trillion to emerging markets, more than four times U.S. lenders and putting them at greater risk if financial market turmoil in countries such as Turkey, Brazil, India and South Africa intensifies.
Indicated 1.5 percent lower
Federal Communications Commission Chairman Tom Wheeler expressed his skepticism about a potential merger between Sprint Corp and T-Mobile US Inc in a meeting with Sprint Chairman Masayoshi Son on Monday, according to an FCC official briefed on the matter.
Munich Re raised its dividend to 7.25 euros per share from 7.00 euros after reporting a surprise rise in 2013 net profit that was above the highest forecast in a Reuters poll of banks and brokerages.
Indicated 0.9 percent lower
The utility is assessing whether it can tie executives' bonuses to how they address its indebtedness, the Wall Street Journal reported late Monday, citing people familiar with the plan.
LANXESS - Berenberg raises its recommendation on the stock to "buy" from "hold", lifts its target price to 61 euros from 52 euros.
LUFTHANSA - Credit Suisse raises its target price on the stock to 21.35 euros from 19.50 euros, with an "outperform" recommendation.
AURUBIS - Societe Generale cuts the stock to "hold" from "buy", lowers its target price to 44 euros from 51 euros.
SKY DEUTSCHLAND - Berenberg raises the stock to "buy" from "hold".
PORSCHE AUTOMOBIL HOLDING - Berenberg starts the stock with "buy" and a price target of 100 euros.
OVERSEAS STOCK MARKETS
Dow Jones -2.1 pct, S&P 500 -2.3 pct, Nasdaq -2.6 pct at Monday's close.
Nikkei -4.2 pct at Tuesday's close.
EUROPEAN FACTORS TO WATCH
- Moscow fights back after sanctions; battle rages near Ukraine crash site |
- U.S. man sues soccer star Cristiano Ronaldo over CR7 trademark
- Gaza toll soars as Israel 'days' from completing tunnel hunt
- Obama to Republicans: ‘Stop just hatin’ all the time’
- Argentina braces for market reaction to second default in 12 years