October 16, 2013 / 5:18 AM / 4 years ago

German stocks - Factors to watch on October 16

3 Min Read

FRANKFURT, Oct 16 (Reuters) - The DAX top-30 index looked set to open unchanged on Wednesday, according to premarket data from brokerage Lang & Schwarz at 0614 GMT.

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

Deutsche Bank

Indicated 0.3 percent lower

A Deutsche Bank employee referred to a client not liking to know they were being "screwed" in a 2007 email concerning the sale of an interest rate swap which is now at the centre of a landmark UK court case.

Deutsche Bank unit Postbank is winning new customers, which will help earnings, Postbank Chief Executive Frank Strauss told German paper Handelsblatt.

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Indicated 0.1 percent lower

German business software firm SAP has launched syndication of a 2 billion euro ($2.7 billion) credit facility to refinance its existing 1.5 billion euro facility, which was due to mature in December 2015, banking sources said on Tuesday.

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Volkswagen, Daimler, Bmw

Volkswagen indicated 0.1 percent higher

Daimler indicated unchanged

BMW indicated 0.1 percent higher

A surge in UK auto sales and an extra working day boosted Europe's new car market in September, providing fresh evidence that demand is slowly bottoming out after plumbing lows not seen in over 20 years.

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A majority of U.S. Supreme Court justices raised doubts on Tuesday over whether Daimler can be sued in federal court for allegations that a subsidiary violated the human rights of workers at a plant in Argentina in the 1970s.

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German opposition parties on Tuesday accused Angela Merkel of pandering to the car lobby, after her conservatives received major donations from the family that controls BMW, just as Berlin was lobbying against tougher EU caps on carbon emissions.

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Volkswagen, Man

MAN indicated unchanged

The German truckmaker, a unit of Volkswagen, said orders and sales of commercial vehicles have picked up sharply since the summer as companies rush to buy older but cheaper models ahead of a change in emission rules next year.

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Rhoen-Klinikum, Fresenius

Rhoen-Klinikum indicated 0.3 percent higher

Fresenius indicated 0.1 percent lower

German medical equipment provider B. Braun received approval from Germany's federal cartel office to raise its stake in hospital operator Rhoen-Klinikum to 25 percent and above and has petitioned a court to appoint its two nominees to the supervisory board.

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No indication available

The German commercial broadcaster raised its 2015 sales goal and unveiled new medium-term financial targets, banking on further rapid growth in digital entertainment.

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Overseas Stock Markets

Dow Jones -0.9 pct, S&P 500 -0.7 pct, Nasdaq -0.6 pct at Tuesday's close.

Nikkei +0.2 pct at Wednesday's close.

European Factors to Watch


Reuters Top News

$1 = 0.7406 euros Reporting by Peter Dinkloh, Christiaan Hetzner and Daniela Pegna

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