May 10, 2013 / 5:41 AM / 4 years ago

German stocks - Factors to watch on May 10

FRANKFURT, May 10 (Reuters) - DAX top-30 index looked set to open 0.2 percent lower on Friday, according to premarket data from brokerage Lang & Schwarz at 0615 GMT.

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

ALLIANZ

Indicated unchanged

The world’s largest bond fund, PIMCO Total Return Fund, run by Allianz’s PIMCO, increased its U.S. treasuries holdings to the highest in over a year in April, data from the firm’s website showed on Thursday.

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DAIMLER

Indicated 0.1 percent higher

A spokeswoman for Daimler said on Thursday the company remained in exploratory talks with Aston Martin and its owners Investindustrial of Italy and Investment Dar of Kuwait about a supply agreement and possibly a technical cooperation between Daimler and the British sports car maker, but no decisions have been made.

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BAYER

Indicated 0.1 percent higher

Several hundred people have been evacuated from a section of Lubbock, Texas, after a leaking tank at a Bayer CropScience facility released a chemical that could turn into highly corrosive hydrochloric acid.

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DEUTSCHE BOERSE

Indicated 0.1 percent higher

Germany’s finance minister said a controversial plan by 11 euro zone countries to introduce a financial transaction tax was not an urgent matter and it could take a long time to be finalised.

TUI

Indicated 0.6 percent higher

TUI Travel, which is 56.4 percent owned by TUI, said it expected full year underlying operating profit to rise at least 10 percent.

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EVONIK

No indication

Hedge fund manager David Einhorn told his investors that his fund Greenlight Capital has initiated a long position in Evonik and he believes the chemicals group will increase earnings to 4 euros a share by 2015/16.

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DRILLISCH

Indicated 1.5 percent higher

The German mobile phone company said it expects 2013 earnings before interest, taxes, depreciation and amortisation (EBITDA) of 67-70 million and 77-80 million euros for 2014.

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ANALYSTS’ VIEWS

MTU AERO - Societe Generale has raised the stock to “buy” from “hold”.

E.ON - HSBC has cut the stock to “underweight” from “neutral”.

OVERSEAS STOCK MARKETS

Dow Jones -0.2 pct, S&P 500 -0.4 pct, Nasdaq -0.1 pct at Thursday’s close.

Nikkei +2.9 pct at Friday’s close.

GERMAN ECONOMIC DATA

German imports and exports rose in March, data from the Federal Statistics Office showed on Friday, in a further sign that Europe’s largest economy is pulling away from a contraction at the end of 2012.

EUROPEAN FACTORS TO WATCH

DIARIES

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