German stocks - Factors to watch on July 9
FRANKFURT, July 9 (Reuters) - The DAX top-30 index .GDAXI looked set to open 1.2 percent higher on Wednesday, according to pre-market data from brokers at 0615 GMT.
The following are some of the factors that may move German stocks on Wednesday (share price indications at 0615 GMT):
TUI (TUIGn.DE)
Indicated 2.8 percent higher
Norwegian billionaire and big TUI shareholder John Fredriksen has sweetened his offer to buy the stake in TUI held by Russian billionaire Alexei Mordashov, Germany's Frankfurter Allgemeine Zeitung newspaper reported. Asked about the report, a spokesman for Mordashov's investment vehicle told Reuters: "We have no intention to sell." [ID:nL08705345]
The city of Hamburg is prepared to invest a three-digit million euro amount in a consortium to buy TUI's Hapag-Lloyd container-shipping division in order to secure the jobs in Hamburg, the finance chief of the city said on Tuesday.
Related news [TUIGn.DE-E]
BAYER BAYG.DE
Indicated 1.2 percent higher
Certain antibiotic drugs such as Bayer's Cipro and Avelox need stronger "black box" warnings about the risk of tendinitis and ruptured tendons, U.S. regulators said. [ID:nN08316830]
Related news [BAYG.DE-E]
FRESENIUS MEDICAL CARE (FMEG.DE)
Indicated 0.6 percent higher
Galencia (GALN.S) said it entered a strategic joint venture with FMC to market and distribute two iron products in dialysis. [ID:nWEA1275]
Related news [FMEG.DE-E]
LUFTHANSA (LHAG.DE)
Indicated 1.1 percent higher
Lufthansa reports June traffic. On Tuesday, Lufthansa Cargo said it plans to raise fuel surcharges to 1.30 euros per kilo from 1.25 euros from July 21.
Related news [LHAG.DE-E]
SIEMENS (SIEGn.DE)
Indicated 1.4 percent higher
Greece's largest electricity utility, Public Power Corp (PPC), has postponed by two months a 570 million euro tender to build a new plant after bidders, including Siemens, sought an extension to Tuesday's deadline, PPC officials said. [ID:nL08681361]
Related news [SIEGn.DE-E]
HEIDELBERGER DRUCK (HDDG.DE)
Indicated 1.1 percent lower
Heidelberg plans to eliminate temporary jobs in production, streamline administration and cut R&D spending in a bid to boost profitability in the face of the strong euro and a weakening outlook for the offset printing market, people familiar with the matter told Reuters. [ID:nL08655719]
Related news [HDDG.DE-E]
GEA GROUP (G1AG.DE)
Indicated 0.3 percent higher
GEA intends to carry out acquisitions that would add 250-300 million euros in annual revenues, CEO Juerg Oleas told German finacial daily Boersen-Zeitung.
Related news [G1AG.DE-E]
IVG IMMOBILIEN (IVGG.DE)
Indicated 0.7 percent higher
IVG's planned REIT will probably not come to market this year or next, the Financial Times Deutschland newspaper reported, citing remarks by IVG's CEO Wolfhard Leichnitz in Euro Property magazine.
Related news [IVGG.DE-E]
NORDEX (NDXGk.DE)
Indicated 4.9 percent lower
Nordex cut its 2008 EBIT forecast to 60-66 million euros from an earlier forecast of 77 million euros, citing start-up costs for international structures. [ID:nWEA1288] [ID:nAWPgBeta]
Related news [NDXGk.DE-E]
AIR BERLIN (AB1.DE)
Indicated 3.6 percent higher
Deutsche Bank's (DB1Gn.DE) stake fell to 5.79 percent of votes by July 4 from 7.43 percent. [ID:nEuGH351a]
Related news [AB1.DE-E]
GFK (GFKG.DE)
Indicated 0.6 percent higher
A consortium led by GfK is to make a last-ditch attempt to prevent WPP (WPP.L) from winning control of Taylor Nelson Sofres TNS.L. GfK plans to top any bid that WPP announces and is already in talks with TNS about a nil-premium merger, Britain's The Times newspaper reported. [ID:nL09112767]
Related news [GFKG.DE-E]
CROPENERGIES (CE2G.DE)
Indicated 2.2 percent lower
CropEnergies reported a fiscal Q1 net profit of 3.0 million euros, beating market expectations. Revenues at 56.4 million euros were in line the Reuters Estimates consensus [ID:nEQgfnejvs]
Related news [CE2G.DE-E]
RESEARCH ALERTS
- Goldman Sachs cut Siemens (SIEGn.DE) price target to 90 euros from 95 euros, rating buy, dealers said.
Siemens indicated 1.4 percent higher
- Goldman Sachs adds E.ON EONG.DE to conviction buy list, price target 158 euros, dealers said.
E.ON indicated 1.3 percent higher
ANNUAL GENERAL MEETINGS
Schwarz Pharma SRZG.DE, proposed dividend 3.18 eur/shr
Hermle (MBHG_p.DE), proposed dividend 6.95 eur/shr
OVERSEAS STOCK MARKETS
Dow Jones .DJI +1.4 pct, S&P 500 .SPX +1.7 pct, Nasdaq .IXIC +2.3 pct. [ID:nN08471024]
Nikkei .N225 +0.15 pct. [ID:nTKV003150] [ID:nL09130312]
GERMAN ECONOMIC DATA
May trade surplus fell to 14.6 billion euros, below market expectations. [ID:nBAE001298]
ECONDE G7TODAY
European factors to watch [WATCH/EU]
Diaries [DE/DIA] [WEU/EQUITY]
Reuters TOP NEWS [ID:nTOPNEWS]
(Reporting by Peter Starck)
