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German stocks - Factors to watch on July 18
July 18, 2013 / 4:51 AM / 4 years ago

German stocks - Factors to watch on July 18

FRANKFURT, July 18 (Reuters) - The DAX top-30 index looked set to open 0.3 percent lower on Wednesday, according to premarket data from brokerage Lang & Schwarz at 0625 GMT.

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

SAP

Indicated 4.2 percent lower

The company on Thursday trimmed its outlook for 2013 software revenue, blaming slowing economic growth in China and customers’ move to cloud-based services. Poll:

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DEUTSCHE BANK

Indicated 0.1 percent lower

Following the placement of shares in real estate group Gagfah last week, Deutsche Bank and Goldman Sachs remain sitting on stakes of 6.4 percent and 6.3 percent, respectively, worth more than 120 million euros ($157 million) each, details of Gagfah voting rights announcements showed on Wednesday.

Separately, four former traders of Deutsche Bank have sued Germany’s top lender for wrongful dismissal after being fired in an internal investigation into the manipulation of benchmark interbank lending rates, the Financial Times reported, citing people close to the situation.

A spokeswoman for Deutsche Bank said it has sanctioned or dismissed employees who had found to be acting inappropriately. Frankfurt’s labour court was not immediately available for comment.

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VOLKSWAGEN

Indicated 0.7 percent lower

VW’s Porsche AG unit plans large investments in the next years to meet EU requirements to lower CO2 emissions, German business paper Boersen-Zeitung reported, citing the unit’s Chief Financial Officer Lutz Meschke.

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DAIMLER

Indicated 0.5 percent lower

More European Union countries could join France in blocking registrations of new Daimler AG vehicles using a banned coolant, after EU governments agreed on Wednesday to take action against the German carmaker.

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THYSSENKRUPP

Indicated 1.4 percent lower

“If energy costs continue to rise and the EU Commission declares relief measures inadmissible, then steel production in Duisburg and other centres will be under threat,” ThyssenKrupp CEO Heinrich Hiesinger wrote in a guest commentary in Handelsblatt newspaper on Thursday.

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EADS

Indicated 0.2 percent higher

The company has revived plans to change its name to Airbus, the Wall Street Journal reported, citing people with direct knowledge of the matter.

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ADVA OPTICAL NETWORKING

Indicated 0.5 percent higher

The company said second-quarter results reached 78.4 million euros.

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DELTICOM

Indicated 1.9 percent lower

The company said first-half earnings before interest and tax (EBIT) reached 8.9 million euros, down 33 percent.

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PRAKTIKER

Indicated 37 percent higher

Several investors have shown interest in taking over the insolvent home improvement retailer, German broadcaster Saarlaendischer Rundfunk reported, citing insolvency administrator Udo Groener.

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OVERSEAS STOCK MARKETS

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

Nikkei +1.3 pct at Thursday’s close.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS ($1 = 0.7637 euros) (Reporting by Jonathan Gould and Christoph Steitz)

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