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German stocks - Factors to watch on October 19
October 19, 2012 / 5:26 AM / 5 years ago

German stocks - Factors to watch on October 19

FRANKFURT, Oct 19 (Reuters) - The DAX top-30 index looked set to open 0.2 percent lower on Friday, according to premarket data from brokerage Lang & Schwarz at 0815 GMT.

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

ADIDAS

Indicated 0.2 percent lower

Indonesian workers at a factory that produces Adidas footwear clashed with police in an industrial dispute on Thursday and 13 people were injured, police and a spokesman for Adidas in Germany said.

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BANKS

Deutsche Bank indicated 1.0 percent lower

Commerzbank indicated 1.2 percent lower

Moody’s Investors Service said the outlook for Germany’s banking system remained negative, citing margin pressure due to intense competition, limited loan growth, Europe’s recession and deteriorating asset quality.

Separately, European Union leaders took a big stride towards establishing a single banking supervisor for the euro zone, agreeing it would enter into force next year, opening the way for the bloc’s rescue fund to inject capital directly into ailing banks.

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BMW

Indicated 0.3 percent lower

The company plans to build a new assembly plant in Brazil, tapping into the growing market for luxury cars in Latin America’s largest economy.

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DEUTSCHE TELEKOM

Indicated unchanged

Japan’s Softbank Corp, which is set to buy a 70 percent stake in U.S. wireless carrier Sprint Nextel Corp, would not rule out making a competing bid for MetroPCS Communications Inc, the Wall Street Journal reported.

Earlier this month, MetroPCS and T-Mobile USA, a Deutsche Telekom unit, said they hoped to set themselves up as the leading provider of wireless services to cost-conscious U.S. customers by combining their assets.

Related news

EADS

Indicated unchanged in Frankfurt

EADS defence unit Cassidian must improve its profitability and win more contracts quickly, Die Welt quotes the head of the division as saying in a letter to employees. Bernhard Gerwert says Cassidian will have to make up for insufficient business volumes in the medium-term.

Separately, EADS said it has invested tens of millions of dollars to develop an armed helicopter for a possible U.S. Army competition and will look to team up with defense contractors to pump up its non-Airbus U.S. sales to $10 billion by 2020.

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HANNOVER RE

Indicated 0.3 percent lower

The German reinsurer could pay more than 40 percent of 2012 net profit as a dividend, Chief Executive Ulrich Wallin said.

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SMA SOLAR

Indicated 18.5 percent lower

SMA late on Thursday said it expects a severe decline in sales and that it may even post a loss in 2013, blaming subsidy cuts in photovoltaics and a steep downturn in Europe.

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OVERSEAS STOCK MARKETS

Dow Jones -0.1 pct, S&P 500 -0.2 pct, Nasdaq -1 pct at Thursday’s close.

Nikkei +0.2 pct at Friday’s close.

ANALYSTS’ VIEWS

FRESENIUS MEDICAL CARE - Berenberg cuts the stock to “hold” from “buy”

SIEMENS - Nomura starts the stock with a “neutral” rating and a target price of 85 euros

SMA SOLAR - Macquarie cuts the stock to “underperform” from “neutral”

GERMAN ECONOMIC DATA

September producer prices +0.3 pct m/m, +1.7 pct y/y. Were seen +0.3 pct m/m, +1.6 pct y/y.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Edward Taylor and Christoph Steitz)

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