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German stocks - Factors to watch on January 24
January 24, 2013 / 6:21 AM / 5 years ago

German stocks - Factors to watch on January 24

FRANKFURT, Jan 24 (Reuters) - The DAX top-30 index looked set to open little changed on Thursday, according to premarket data from brokerage Lang & Schwarz at 0715 GMT.

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

COMMERZBANK

Indicated 0.6 percent lower

Commerzbank’s works council deliberates cutback plans. Media reports say up to 6,500 jobs could go.

Hypovereinsbank’s parent company Unicredit plans to cut about 1,000 jobs in Germany by the end of next year, sources said.

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SIEMENS

Indicated 4.1 percent lower

Shares trade ex-dividend

Siemens said 98.21 percent of shareholders who attended the annual general meeting, approved the spin-off of Osram Licht AG. Siemens shareholders will receive one additional share of Osram for every ten Siemens shares. A listing is expected in April at the earliest.

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BEIERSDORF

Indicated 1.0 percent lower

The maker of Nivea cream reported sales up 4.7 percent in 2012 as demand from consumers in countries like Russia and Brazil offset a weak climate in its home European markets.

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OVERSEAS STOCK MARKETS

Dow Jones +0.5 pct, S&P 500 +0.15 pct, Nasdaq +0.3 pct at Wednesday’s close.

Nikkei +1.3 pct at Thursday’s close.

GERMAN ECONOMIC DATA

January Markit Manufacturing flash PMI due at 0828 GMT. Seen higher at 46.8.

January Markit Service Flash PMI due at 0828 GMT. Seen flat at 52.

January Markit Comp Flash PMI due at 0828 GMT.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Edward Taylor and Harro ten Wolde)

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