German stocks - Factors to watch on July 4
FRANKFURT, July 4
FRANKFURT, July 4 (Reuters) - The DAX top-30 index looked set to open unchanged on Friday, according to premarket data from brokerage Lang & Schwarz at 0622 GMT. The following are some of the factors that may move German stocks:
Indicated 0.1 percent higher
The insurer holds its Capital Markets Day in London.
The luxury carmaker revealed a $1 billion Mexican plant investment on Thursday, becoming the latest in a line of major automakers to take advantage of the country's growing industrial base and tariff-free access to the U.S. market.
BMW outlined plans to build a factory near San Luis Potosi, central Mexico, in a move that will reduce the German company's dependence on higher-cost plants at home.
Indicated 0.2 percent lower
Accusations by a U.S. agency that T-Mobile US Inc charged customers millions of dollars in unauthorized charges were sensational and exaggerated, its chief executive officer said on Thursday.
Indicated 0.1 percent lower
The carmaker sold more than three million cars of its VW brand in the first half of 2014, Chief Executive Martin Winterkorn said on Thursday.
It was the first time that six months sales hit that level, Winterkorn said at a presentation of the new Passat model in Potsdam.
Up 0.5 percent in Frankfurt trading
The fashion house opens a new distribution centre in Filderstadt in southern Germany. CEO Claus-Dietrich Lahrs will be on site.
Indicated 0.3 percent lower
In the fierce struggle for power between Media Saturn and the group's founder Erich Kellerhals, the group's management aligned itself with acting CEO Pieter Haas as a shareholders' meeting is about to decide about his removal on Friday, German daily Sueddeutsche Zeitung said.
In a letter to Media Saturn owner Metro and to Kellerhals, who still owns 22 percent of the consumer electronics chain, the seven managers warned that the group's capacity to act might be at risk, the paper said.
Kellerhals' legal attempts to get rid of Haas had led to a new escalation level in the relation between shareholders and managers, the paper quoted from the internal letter.
The retail group has initiated the sale of all its divisions excluding the perfume shop, a precondition for a possible return on the stock market, German daily Frankfurter Allgemeine Zeitung (FAZ) said.
Investment bank JP Morgan was mandated to find a buyer for the jewellery subsidiary Christ, the paper said. The group, which is owned by U.S. private equity group Advent and the founding family Kreke, would aim to go public in spring 2015, FAZ said.
FIELMANN - dividend 2.90 eur/shr
MOBOTIX - DZ Bank cuts to "sell" from "buy"
OVERSEAS STOCK MARKETS
Dow Jones +0.54 pct, S&P 500 +0.55 pct, Nasdaq +0.63 pct at Thursday's close.
Nikkei +0.52 pct at 0514 GMT.
GERMAN ECONOMIC DATA
German May industrial orders due at 0600 GMT. Seen +1.0 pct.
EUROPEAN FACTORS TO WATCH
REUTERS TOP NEWS (Reporting by Kirsti Knolle and Jonathan Gould)
- Ukraine president accuses Russian soldiers of backing rebel thrust |
- Video shows Islamic State executes scores of Syrian soldiers |
- In town halls, U.S. lawmakers hear voter anger over illegal migrants |
- U.S. air strikes on Syria would face formidable obstacles
- Ukraine leader says Russian forces are in the country as key town falls