German stocks - Factors to watch on July 17
FRANKFURT, July 17
FRANKFURT, July 17 (Reuters) - The DAX top-30 index looked set to open 0.3 percent lower on Thursday, according to pre-market data from brokerage Lang & Schwarz at 0621 GMT.
The following are some of the factors that may move German stocks:
Volkswagen indicated down 0.2 percent
Daimler indicated down 0.1 percent
BMW indicated down 0.4 percent
New car sales in Europe rose 4.3 percent in June, industry data showed on Thursday, as an economic recovery, new product launches and retail incentives boosted demand for mass-market brands.
Separately, Daimler is betting that cooperation with Renault and the launch of models to tap growing demand for city cars may pave the way for its diminutive Smart brand to become profitable.
Also, Volkswagen will increase the amount of locally-made parts in the cars it sells in India to cut costs and lift falling sales in a competitive market dominated by cheap compacts.
Deutsche Bank indicated down 0.2 percent
Commerzbank indicated down 0.2 percent
German Finance Minister Wolfgang Schaeuble said on Wednesday that Europe was working towards making it easier to issue asset-backed securities. "I believe that with sensible regulations and high quality, securitisation, especially of loans for the Mittelstand (small and medium-sized firms), is necessary," he said.
Separately, Standard & Poor's affirmed its negative outlook for Deutsche Bank late on Wednesday, saying it reflected the possible removal of extraordinary government support by end-2015. S&P also affirmed its A/A-1 long-, and short-term ratings of the bank.
SAP indicated up 1.1 percent
The business software maker raised its 2014 outlook for its web-based software services as its customers switch to cloud-based products more quickly than expected to save money.
Siemens indicated down 0.2 percent
The engineering group said late on Wednesday that it was selling its microbiology business to Beckman Coulter, a subsidiary of Danaher Corp. It did not disclose financial details.
No indication available.
The planemaker is testing out improvements to the doors on its A380 superjumbo after incidents mainly involving noise during flights, and expects the upgrade to be approved in the autumn, a spokesman said on Wednesday.
Separately, The Financial Times quoted Emirates Chief Executive Tim Clark as saying the Dubai-based carrier could buy an additional 60 to 80 Airbus A380s if the four-engined superjumbo were revamped with more fuel-efficient engines by 2020.
The company published Q2 results.
No indication available.
The European competition authorities approved on Wednesday that China's Weichai Power becomes the biggest shareholder of the forklift truck maker.
Shares indicated down 1.0 percent
The supplier of transportation technology and industrial applications late on Wednesday raised its full year net profit forecast to 29.4 million euros from 25 million, helped by a one-off gain resulting from a share increase in its Polish subsidiary Rawag.
Indicated up 1.0 percent
The clothing retailer said like-for-like sales at its Bonita brand fell as expected in the second quarter, though the gross profit margin widened to 69.7 percent from 63.2 percent. Group retail sales rose 0.8 percent.
ANNUAL GENERAL MEETINGS
SUEDZUCKER - 0.50 eur/shr dividend proposed
HOCHTIEF - Berenberg raises to "buy" from "hold", raises price target to 75 euros from 67 euros.
PROSIEBENSAT.1 - Berenberg raises to "hold" from "sell", raises price target to 29.60 euros from 27.60 euros.
OVERSEAS STOCK MARKETS
Dow Jones +0.5 pct, S&P 500 +0.4 pct, Nasdaq +0.2 pct at Wednesday's close.
Nikkei -0.1 pct at Thursday's close.
EUROPEAN FACTORS TO WATCH