December 4, 2013 / 6:15 AM / in 4 years

German stocks - Factors to watch on December 4

FRANKFURT, Dec 4 (Reuters) - The DAX top-30 index looked set to open 0.3 percent higher on Wednesday, according to premarket data from brokerage Lang & Schwarz at 0715 GMT.

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


Indicated 0.3 percent lower

European Union antitrust regulators will fine five banks including Deutsche Bank for rigging yen Libor and Tibor interest rate benchmarks, a person familiar with the matter said on Tuesday.

Separately, Japan’s securities watchdog will recommend that a Tokyo-based unit of Deutsche Bank be sanctioned for excessive entertainment of pension fund executives, sources with knowledge of the matter said on Wednesday.

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VW indicated unchanged

BMW indicated 0.1 percent higher

Daimler indicated 0.6 percent higher

Volkswagen of America said it delivered 30,727 vehicles in November, down 16.3 percent from a year earlier.

VW’s Audi unit reported U.S. sales of 13,636 vehicles in November, up 13 percent from a year earlier.

BMW reported U.S. sales of 36,327 vehicles for the month, a decrease of 0.4 percent.

Daimler’s Mercedes-Benz USA unit said November sales rose 14.4 percent to 37,345 vehicles.

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Indicated unchanged

The airline’s supervisory board is due to meet. It had initially been expected to name a new chief executive at its meeting, but Lufthansa’s chairman has said the board would not yet be able to name a new leader this week.

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Indicated 3.2 percent lower

Deutsche Bank said it would begin the placement of up to 10 million shares, or 4.6 percent of the total, in German real estate group Gagfah on behalf of Fortress Investment Group LLC.

Separately, Japan’s Toshiba Corp will collaborate with Gagfah to sell energy directly to residents in Germany, people close to the matter told Reuters.

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Indicated 0.3 percent lower

The German company, which makes pill bottles and syringes, has lost interest in the healthcare packaging unit of Rexam Plc , its chief executive was quoted telling a German newspaper on Wednesday.

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Dow Jones -0.6 pct, S&P 500 -0.3 pct, Nasdaq -0.2 pct at Tuesday’s close.

Nikkei -2.2 pct at Wednesday’s close.


German November final composite Markit Purchasing Managers’ Index (PMI) due at 0853 GMT. Manufacturing PMI seen at 52.5, services PMI at 54.5.



REUTERS TOP NEWS (Reporting by Maria Sheahan, Ludwig Burger and Harro ten Wolde)

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