March 5, 2014 / 6:06 AM / in 4 years

German stocks - Factors to watch on March 5

FRANKFURT, March 5 (Reuters) - The DAX top-30 index looked set to open 0.2 percent lower on Wednesday, according to premarket data from brokerage Lang & Schwarz at 0717 GMT.

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

ADIDAS

Indicated 3.5 percent lower

The sportswear company warned on Wednesday that its results in 2014 would take a significant hit from weakening emerging market currencies like Russia’s rouble even as sales are helped by the soccer World Cup. Poll:

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DEUTSCHE BANK

Indicated 0.2 percent lower

Deutsche Bank needs to speed up restructuring and reforms to meet targets it set out for itself for 2015, management board member Stephan Leithner said on Tuesday.

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COMMERZBANK

Indicated 0.1 percent lower

Banks such as Deutsche Bank and JPMorgan are teaming up with international funds to bid for a Spanish loan package of over 4 billion euros ($5.5 billion) from Germany’s Commerzbank CBKG.DE, sources close to the process said.

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DMG MORI SEIKI AG

Indicated 0.8 percent higher

DMG Mori Seiki AG, formerly known as Gildemeister, said it was participating in the capital increase of its cooperation partner DMG Mori Seiki Company Limited, Nagoya, Japan.

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LEG IMMOBILIEN

No indication available

Goldman Sach’s three representatives in LEG Immobilien’s supervisory board have announced they would retire from their positions as of April 2, following Goldman’s sale of most of its stake in the group, LEG announced on Tuesday.

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DEUTSCHE ANNINGTON

No indication available

Deutsche Annington late on Tuesday said its sale of 16 million new shares in a capital increase to help fund property buys would also see shareholder Terra Firma sell up to 11 million shares of its holding in the German real estate group.

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ANALYSTS’ VIEWS

FIELMANN - Berenberg raises to “buy” from “hold”

FMC - Berenberg cuts to “hold” from “buy”

EX-DIVIDEND

CARL ZEISS MEDITEC - 0.45 eur/shr

GERMAN ECONOMIC DATA

Markit’s final composite Purchasing Managers’ Index (PMI) for February, which tracks growth in the manufacturing and service sectors, due at 0853 GMT.

The sub-index tracking the services sector also due at 0853 GMT. Seen at 55.4 on average, unchanged from January.

OVERSEAS STOCK MARKETS

Dow Jones +1.4 pct, S&P 500 +1.5 pct, Nasdaq +1.8 pct at Tuesday’s close.

Nikkei +1.2 pct at Wednesday’s close.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Ludwig Burger and Jonathan Gould)

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