German stocks - Factors to watch on August 8
FRANKFURT Aug 8 (Reuters) - The DAX top-30 index looked set to open 1.1 percent lower on Friday, according to premarket data from brokerage Lang & Schwarz at 0612 GMT.
The following are some of the factors that may move German stocks:
Indicated 0.2 percent lower
Allianz posted net profit of 1.76 billion euros ($2.35 billion) in the second quarter, up 10.5 percent and soundly beating expectations, as revenue surged. The company confirmed its outlook for its operating profit in 2014.
Indicated 1.7 percent lower
BMW joined its German rivals Audi and Mercedes-Benz in cutting prices of auto spare parts in China, where the government has complained about overcharging and launched probes to expose what it describes as anti-competitive behaviour.
Indicated 2.2 percent lower
The European airlines Lufthansa, Air France-KLM and Finnair would be hardest hit by a potential closure of the airspace over Siberia, data from a flight tracking website shows.
Separately, Lufthansa Chief Executive Carsten Spohr told The Financial Times in an interview that the carrier would likely expand its planned no-frills long-haul service beyond seven aircraft. He also said he preferred retaining the LSG Sky Chefs catering business to a sale.
Indicated 1.9 percent lower
The engineering company's former VAI metals technologies business, now majority-owned by Mitsubishi Heavy, plans to cut over 500 jobs in Germany and Austria, Kurier newspaper reported on Thursday, citing the works council chief at the Linz, Austria-based division.
Indicated 2.0 percent lower
The defence company, which cut its outlook this week, has received a 70-million-euro government contract to operate a combat training center in eastern Germany until 2018, daily Die Welt reported on Friday, citing no sources.
Indicated 0.9 percent lower
The hospitals chain said net income in the first half jumped to 1.21 billion euros from 50.8 million euros a year earlier, boosted by a gain from the sale of most of its facilities to Fresenius SE.
Indicated 0.7 percent lower
The company confirmed its 2014 outlook for higher sales and profits and said its second-quarter net profit came in at 16.4 million euros.
No indication available
Youbisheng Green Paper, a Chinese clean-tech linerboard maker, said it planned to file for insolvency and had lost its chief executive who has resigned with immediate effect.
SKY DEUTSCHLAND - Berenberg cuts the stock to "hold" from "buy", lowers its price target to 6.75 euros from 7.60 euros.
OVERSEAS STOCK MARKETS
Dow Jones -0.5 pct, S&P 500 -0.6 pct, Nasdaq -0.5 pct at Thursday's close.
Nikkei -3 pct at Friday's close.
GERMAN ECONOMIC DATA
German imports surged at their fastest pace in over three years in June, suggesting domestic demand in Europe's largest economy remains strong in the face of political crises abroad.
EUROPEAN FACTORS TO WATCH
REUTERS TOP NEWS ($1 = 0.7484 euro) (Reporting by Andreas Cremer, Christoph Steitz and Maria Sheahan)
- IPhone emerges from 'bygone era', reviewers hail bigger handset
- Fed may hint on rate-hike plan as it prepares for policy turn
- Scots' support for independence lags on eve of referendum |
- Boeing, SpaceX win contracts to build 'space taxis' for NASA
- Islamic State campaign tests Obama's commitment to Mideast allies