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German stocks - Factors to watch on July 28
July 28, 2014 / 5:01 AM / 3 years ago

German stocks - Factors to watch on July 28

FRANKFURT, July 28 (Reuters) - The DAX top-30 index looked set to open 0.2 percent higher on Monday, according to premarket data from brokerage Lang & Schwarz at 0612 GMT.

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

BASF

Indicated 0.5 percent higher

Essar is in talks with BASF for a $2 billion petrochemicals joint venture, India’s Economic Times reported, citing people directly involved in the discussions.

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BMW

Indicated 0.1 percent higher

BMW’s labour representatives have agreed to save 100 million euros ($134 million) in annual costs at factories in Regensburg, Dingolfing and Munich, in exchange for management pledges for future investments, Automobilwoche reported, citing company sources. BMW declined to comment on the figure.

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COMMERZBANK

Indicated 0.5 percent higher

Germany’s second-biggest bank is widening the scope of its savings programme to outsource parts of its finance department, which includes accounting, German daily newspaper Handelsblatt reported.

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DEUTSCHE BANK

Indicated 0.1 percent higher

Silver bullion banks Deutsche Bank, Bank of Nova Scotia and HSBC have been accused of manipulating prices in the multi-billion dollar market in a lawsuit filed on Friday.

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DEUTSCHE POST

Indicated 0.1 percent lower

Deutsche Post expects tough wage negotiations in Germany, a market where it needs to cut costs because of falling margins, Sueddeutsche Zeitung reported, quoting Chief Executive Frank Appel.

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LUFTHANSA, AIR BERLIN

Lufthansa indicated 0.5 percent higher

No indication available for Air Berlin

Germany’s pilots’ union criticised a decision by Air Berlin and Lufthansa to resume flights to Israel, citing concerns over aircraft security in the region.

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MERCK

Indicated unchanged

Germany’s Merck will start offering non-prescription drugs in China as part of a push to double revenues in the region, to 1 billion euros by 2018, Chief Executive Karl-Ludwig Kley told German weekly Wirtschaftswoche.

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SIEMENS

Indicated unchanged

Mexico on Sunday announced the opening of an international tender to build a high-speed passenger train linking Mexico City and the industrial city of Queretaro. Siemens has said it was interested in bidding for rail projects.

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VOLKSWAGEN

Indicated 0.5 percent higher

Volkswagen’s premium units Audi and Porsche have protested cost savings plans at the group, demanding that Volkswagen seeks cuts at its VW unit instead, Der Spiegel reported.

Separately, Audi said it would cut spare-part prices in China as global automakers rush to change their pricing strategies after Chinese anti-monopoly regulators began probing the auto industry.

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AAREAL

Indicated 0.2 percent higher

The commercial property lender is satisfied with its second-quarter results, CFO Hermann Merkens told Boersen-Zeitung, adding that he expects consolidated operating profit to be in the same range as the 65 million euros the lender posted in the first quarter.

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DUERR

Indicated 0.4 percent higher

Duerr is on the lookout for more takeovers even after the acquisition of Homag since smaller engineering firms may struggle to continue on a standalone basis, CEO Ralf Dieter told Stuttgarter Zeitung.

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GEA GROUP

Indicated 1 percent higher

The industrial machinery and engineering company affirmed its 2014 outlook after demand for farm and refrigeration equipment boosted second-quarter profits.

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HOCHTIEF

Indicated 0.2 percent higher

Spanish infrastructure and services company Ferrovial is preparing a A$1.5 billion ($1.4 billion) offer for Australian firm John Holland, part of Hochtief’s Australian subsidiary Leighton, Spanish business daily Expansion reported on Saturday without citing sources.

Separately, Leighton reported its first-half profit slipped to A$291.3 million from A$366.2 million in the year-earlier period.

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WINCOR NIXDORF

Indicated 3.7 percent lower

The German ATM maker slashed its full-year outlook after sluggish demand in key emerging markets led to an unexpected slide in fiscal third-quarter profit.

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MORPHOSYS

Indicated 0.8 percent higher

The biotech company said its management now expects to post a 2014 EBIT loss of 11 million euros as it reported a second-quarter EBIT loss of 1 million.

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QIAGEN

Indicated 0.8 percent higher

AstraZeneca has signed up Roche and Qiagen to develop two separate diagnostic tests, both using simple blood samples, to identify patients who will benefit from its lung cancer drugs.

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HAWESKO

Indicated 0.6 percent lower

Chief Executive Alexander Margaritoff told Frankfurter Allgemeine Zeitung he could imagine staying on beyond the end of his current five-year contract, according to an interview in the paper’s Monday edition.

Related news

HHLA

Indicated 0.1 percent higher

The Ukraine crisis has caused business at its terminal in Odessa to slow down, German weekly Wirtschaftswoche said.

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ANALYSTS’ VIEWS

FREENET - Citigroup cuts the stock to “neutral” from “buy”, lowers its target price to 20.50 euros from 26 euros.

DRILLISCH - Citigroup starts the stock with a “buy” rating and a target price of 42 euros.

OVERSEAS STOCK MARKETS

Dow Jones -0.7 pct, S&P 500 -0.5 pct, Nasdaq -0.5 pct at Friday’s close.

Nikkei +0.5 pct at Monday’s close.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS ($1 = 0.7448 Euros) (Reporting by Edward Taylor and Maria Sheahan)

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