German stocks - Factors to watch on August 20
FRANKFURT/BERLIN Aug 20 (Reuters) - The DAX top-30 index looked set to open unchanged on Wednesday, according to premarket data from brokerage Lang & Schwarz at 0613 GMT.
The following are some of the factors that may move German stocks:
Indicated 1.8 pct higher
Morphosys and Emergent Biosolutions signed a license agreement to co-develop and commercialize prostate cancer drug candidate ES414. Emergent will receive a $20 million upfront payment and will be eligible for potential milestone payments of up to $163 million.
Indicated 2.9 pct higher
The outdoor advertising group said it was targeting 2014 adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) of at least 135 million euros ($180 million), more than the average estimate of 132 million euros in a Reuters poll of analysts.
Indicated 1.5 pct higher
SKW's core business is healthy and the supplier to the steel industry has no liquidity problems, Handelsblatt newspaper cited Chief Executive Kay Michel as saying.
E.ON - Societe Generale raises to "hold" from "sell"; target price raised to 13.5 euros from 12 euros.
SIEMENS - Goldman Sachs raises its recommendation on the stock to "buy" from "neutral", lifts its target price to 118 euros from 115 euros.
OVERSEAS STOCK MARKETS
Dow Jones +0.5 pct, S&P 500 +0.5 pct, Nasdaq +0.4 pct at Tuesday's close.
Nikkei +0.03 pct at Wednesday's close.
GERMAN ECONOMIC DATA
July producer prices slipped 0.1 percent from the previous month and were down 0.8 percent from a year earlier, the Federal Statistics Office said. Economists polled by Reuters had forecast that prices would be unchanged on the month and fall by 0.7 percent year on year.
EUROPEAN FACTORS TO WATCH
REUTERS TOP NEWS (1 US dollar = 0.7518 euro) (Reporting by Ludwig Burger and Andreas Cremer)