German stocks - Factors to watch on July 9
FRANKFURT, July 9
FRANKFURT, July 9 (Reuters) - The DAX top-30 index looked set to open 0.2 percent higher on Wednesday, according to premarket data from brokerage Lang & Schwarz at 0610 GMT.
The following are some of the factors that may move German stocks:
Indicated 0.3 percent higher
U.S. sportswear maker Nike Inc, battling Adidas to be the world's biggest soccer brand, expects kit sales to keep growing fast after the World Cup, its chief executive was quoted as saying by Handelsblatt newspaper.
Deutsche Bank indicated 1.9 percent higher
Commerzbank indicated 0.6 percent higher
Creditors and owners of failing German banks will face losses from as early as 2015, a year before European rules envisaged for the bloc as a whole, the draft of a law seen by Reuters showed on Tuesday. The law is part of a package to be presented to Chancellor Angela Merkel's cabinet on Wednesday. Germany needs to pass the laws to implement Europe's banking union plans.
The head of the German Monopoly Commission, Daniel Zimmer, sees loopholes with regard to the planned banking union. In case of emergency taxpayers could be obliged to pay again, Zimmer said in an interview with German daily Handelsblatt.
BASF indicated 0.4 percent higher
Bayer indicated 0.2 percent higher
H1 press conference of chemicals trade group VCI due at 0900 GMT.
Indicated 0.5 percent higher
The new chief executive officer of rival Potash says he will stick with the Canadian company's focus on supporting the price of potash by matching output of the crop nutrient to demand, rather than maximizing sales volume to fend off competition.
"The principle and the strategy of aligning production with demand has been a very successful one, and so therefore the answer is, there's no reason to change that going forward," CEO Jochen Tilk told Reuters in an interview on Tuesday.
Indicated 0.9 percent
New Chief Executive Carsten Spohr is due to present his new strategy for the German carrier.
Separately, traffic figures for June due at 1100 GMT.
No indication available
British regulators have arrested and questioned four former and current employees of an Airbus unit that operates in Saudi Arabia, as part of a probe into allegations of corruption in the country, the Financial Times reported on Tuesday, citing sources.
ANNUAL GENERAL MEETINGS
HORNBACH-BAUMARKT-AG - 0.60 eur/shr dividend proposed.
DEUTSCHE BANK - JP MORGAN raises to "overweight" from "neutral".
GERRY WEBER - BERENBERG raises to "buy" from "hold".
OVERSEAS STOCK MARKETS
Dow Jones -0.7 pct, S&P 500 -0.7 pct, Nasdaq -1.4 pct at Tuesday's close.
Nikkei -0.1 pct at Wednesday's close.
EUROPEAN FACTORS TO WATCH
REUTERS TOP NEWS (Reporting by Ludwig Burger and Kirsti Knolle)
- Three Denver girls reportedly en route to Turkey detained, sent home
- NOAA employee charged with stealing U.S. dam information
- Sweden gets two new sightings, as hunt for undersea intruder goes on
- U.S. to funnel travelers from Ebola-hit region through five airports
- UPDATE 8-U.S. to funnel travelers from Ebola-hit region through 5 airports