September 12, 2013 / 5:11 AM / 4 years ago

German stocks - Factors to watch on September 12

2 Min Read

FRANKFURT, Sept 12 (Reuters) - The DAX top-30 index looked set to open unchanged on Thursday, according to premarket data from brokerage Lang & Schwarz at 0615 GMT.

The following are some of the factors that may move German stocks:

Siemens

Indicated 0.3 percent lower

Josef Ackermann will likely step down from his position as second deputy chairman at the engineering conglomerate, a source familiar with the plan said on Wednesday.

Related news

Deutsche Telekom

Indicated unchanged

The European Commission on Wednesday proposed a price cap on cross-border phone calls in Europe and asked for veto power over sales of mobile spectrum, as part of a fresh attempt to overhaul the bloc's telecommunications sector.

Related news

Deutsche Bank

Indicated 0.2 percent higher

Russia's state-backed private equity fund RDIF and Deutsche Bank will pay a maximum of $241 million for a 2.45 percent stake in telecoms operator Rostelecom, financial daily Kommersant reported on Thursday.

Related news

Hornbach Holding

Indicated 0.1 percent higher

Representatives from shareholder Kingfisher are stepping down from the supervisory board of the German DIY store group after Kingfisher said it would launch the Screwfix brand in Germany, thus competing with the chain directly.

Related news

Analysts' Views

SALZGITTER - Nomura raises price target to 26 euros from 25 euros

Overseas Stock Markets

Dow Jones +0.9 pct, S&P 500 +0.3 pct, Nasdaq -0.1 pct at Wednesday's close.

Nikkei -0.3 pct at Thursday's close.

German Economic Data

Aug wholesale price index -0.6 pct m/m, -1.7 pct y/y.

European Factors to Watch

Diaries

REUTERS TOP NEWS (Reporting by Victoria Bryan and Christoph Steitz)

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