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German stocks - Factors to watch on October 3
October 3, 2012 / 5:21 AM / 5 years ago

German stocks - Factors to watch on October 3

FRANKFURT, Oct 3 (Reuters) - The DAX top-30 index looked set to open 0.3 percent lower on Wednesday, according to premarket data from brokerage Lang & Schwarz at 0605 GMT.

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


Indicated 0.1 percent lower

Deutsche Telekom is in talks to merge its T-Mobile USA unit with smaller rival MetroPCS, in a move that could pave the way for the German company to eventually exit the U.S. wireless market.

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BMW indicated 0.1 percent lower

Volkswagen indicated 0.3 percent lower

Daimler indicated 0.4 percent lower

BMW reported a 3.5 percent rise in U.S. September sales.

Volkswagen said U.S. September sales rose 34.4 percent, wile its premium unit Audi said it set an all-time U.S. September sales record with 26.5 percent increase.

Mercedes-Benz U.S. reported a 7 percent rise in September sales.

Separately, Daimler Chief Executive Dieter Zetsche told newspaper Bild that he wasn’t expecting a growth impulse in Europe, and that to maintain sales at current levels would be very pleasing.

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Indicated 0.2 percent lower

The U.S. Federal Trade Commission said it had closed an investigation into a deal between German drugmaker Bayer AG and a division of Teva Pharmaceuticals to end patent litigation over the popular Yasmin birth control pill, given it had found “no wrongdoing”.

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

Nikkei -0.5 pct at Wednesday’s close.


Markit’s German Services Purchasing Managers’ Index (PMI), is expected to come in at 50.6 in September, according to the average in a Reuters poll, unchanged from August, when it is released at 0753 GMT.



REUTERS TOP NEWS (Reporting by Edward Taylor and Harro ten Wolde)

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