June 24, 2014 / 5:16 AM / 3 years ago

German stocks - Factors to watch on June 24

3 Min Read

FRANKFURT, June 24 (Reuters) - The DAX top-30 index looked set to open 0.1 percent higher on Tuesday, according to premarket data from brokerage Lang & Schwarz at 0618 GMT.

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

Basf, Bayer, Thyssenkrupp

BASF indicated 0.4 percent higher

Bayer indicated 0.3 percent higher

ThyssenKrupp indicated 0.1 percent higher

Germany's Economy Ministry has said it is at odds with the European Union over how to reform the country's renewable energy law, and Brussels is questioning the entire principle of supporting green energy through surcharges.

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Deutsche Bank

Indicated 0.2 percent higher

Subscription period for 8.5 billion euro ($11.6 billion) rights issue ends.

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Merck Kgaa

Indicated 0.2 percent higher

Merck and Mersana Therapeutics announced an agreement to collaboratively develop next-generation antibody-drug conjugates. Merck will be responsible for clinical development and commercialisation of products.

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Indicated 0.3 percent higher

The German carmaker wants to increase its stake in Chinese venture FAW to 49 pct from 40 pct, but FAW wants more access to the VW's technological know-how, Frankfurter Allgemeine Zeitung said on Tuesday, citing no sources.

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Indicated 0.2 percent higher

Australian subsidiary Leighton said its units John Holland and Leighton Contractors have been selected by the New South Wales government as preferred operator to deliver the Operations, Trains and Systems (OTS) package for the North West Rail Link (NWRL) in Sydney.

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Indicated 0.1 percent higher

TUI Travel, majority-owned by Germany's TUI, has increased its holding in Le Passage to India, a joint venture with Select Group India, and now holds a controlling stake, The Times of India reported, citing TUI India's Chief Operating Officer Vishal Sinha.

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Analysts' Views

BMW - UBS raises its recommendation on the stock to "buy" from "neutral" and lifts its price target to 105 euros from 92 euros.

DAIMLER - UBS cuts the stock to "neutral" from "buy", lowers its price target to 75 euros from 77 euros.

Overseas Stock Markets

Dow Jones -0.2 pct, S&P 500 -0.1 pct, Nasdaq flat at Monday's close.

Nikkei +0.1 pct at Tuesday's close.

German Economic Data

The IFO German business sentiment survey for June due at 0800 GMT. The business climate index is seen falling to 110.2 from 110.4 in May, a Reuters poll of 40 economists showed.

Stock Exchange News

South African furniture manufacturer and retailer Steinhoff International Holdings said late on Monday it would seek a primary listing on the Frankfurt Stock Exchange from September.

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European Central Bank

The ECB's package of policy measures adopted this month have helped cap the euro's strength, ECB policymaker Ewald Nowotny said on Monday.

European Factors to Watch


REUTERS TOP NEWS ($1 = 0.7357 Euros) (Reporting by Jonathan Gould and Maria Sheahan)

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