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German stocks - Factors to watch on January 29
January 29, 2014 / 6:01 AM / 4 years ago

German stocks - Factors to watch on January 29

FRANKFURT, Jan 29 (Reuters) - The DAX top-30 index looked set to open 0.8 percent higher on Wednesday, according to premarket data from brokerage Lang & Schwarz at 0706 GMT. The following are some of the factors that may move German stocks:

DAIMLER

Indicated 1.2 percent higher

Daimler late on Tuesday announced the surprise resignation of Andreas Renschler, head of manufacturing at Mercedes-Benz Cars, in a move that tightens Chief Executive Dieter Zetsche’s grip on the company.

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DEUTSCHE BANK

Indicated 1.4 percent higher

Germany’s biggest lender holds its annual press conference.

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WACKER CHEMIE

Indicated 4.9 percent higher

The maker of polysilicon for solar cells said on Tuesday it would book 115 million euros ($157 million) in additional operating earnings in the first quarter as it stands to receive damages for agreeing to change a contract with a customer in the solar industry.

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CELESIO

Indicated 0.5 percent lower

The drugs distributor being taken over by U.S. peer McKesson said late on Tuesday that as a consequence of the change of control, holders of convertible bonds may either redeem them or exercise their right of conversion.

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OSRAM

No indication available

The German lighting maker reported a bigger than expected rise in quarterly profit. Its Q1 adjusted earnings before interest, tax and amortisation (EBITA) rose 14 percent to 123 million euros, beating the average estimate of 113 million from analysts in a Reuters poll

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EX-DIVIDEND

SIEMENS - dividend 3.00 euros/shr

ANALYST RECOMMENDATIONS

BAYER - Berenberg raises to ‘buy’ from ‘hold’

HEIDELBERGCEMENT - JP Morgan adds to its ‘European Focus List’

OVERSEAS STOCK MARKETS

Dow Jones +0.57 pct, S&P 500 +0.61 pct, Nasdaq +0.35 pct at Tuesday’s close.

Nikkei up 2.52 pct at 0554 GMT.

GERMAN ECONOMIC DATA

German consumer morale unexpectedly rose to its highest level since August 2007 going into February. The GfK indicator rose to 8.2 points, compared with estimates for a reading of 7.6.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Ludwig Burger, Edward Taylor and Andreas Cremer.)

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