German stocks - Factors to watch on October 7
FRANKFURT, Oct 7 (Reuters) - The DAX top-30 index .GDAXI looked set to open 0.2 percent lower on Wednesday, according to premarket data from brokers at 0612 GMT.
The following are some of the factors that may move German stocks on Thursday (share price indications at 0608 GMT):
DERIVATIVE TRADE (EONGn.DE) (SIEGn.DE)
E.ON down 0.1 percent, Siemens down 0.1 percent
European industrial companies could have to raise tens of billions of euros if regulators move ahead with plans to insist that over-the-counter derivative contracts trade on formal exchanges, the Financial Times reported, citing estimates that E.ON (EONGn.DE) would need 7.5 billion euros and Siemens (SIEGn.DE) more than 1 billion euros in new credit lines or extra cash reserves.
Related news [DRV-DE-E]
DEUTSCHE BANK DBKG.DE
Indicated down 0.6 percent
Deutsche Bank is likely to pay in the region of 1 billion euros for the stake in German peer Sal. Oppenheim it is targeting, less than the roughly 1.5 billion euros ($2.21 billion) initially earmarked for the deal, Frankfurter Allgemeine Zeitung reported, citing sources familiar with the negotiations.
Related news [DBKG.DE-E]
METRO (MEOG.DE)
Indicated 2.9 percent lower
Otto Beisheim Group, which holds 18.5 percent in Metro, said it was placing up to 5.2 percent in the retailer, adding that a stake of around 10 percent would make strategic sense and suffice. [ID:nL6543157]
Related news [MEOG.DE-E]
E.ON (EONGn.DE)
Inidcated 0.1 percent lower
European natural gas demand declined 7 percent in 2009 but should recovery slightly next year, E.ON Ruhrgas Chief Executive Officer Bernhard Reutersberg said. [ID:nN06435636]
Separately, the German utility launched construction of a gas-fired power plant in Slovakia on Tuesday and said it expects to connect it to the grid by the end of 2010.
Related news [EONGn.DE-E]
BILFINGER BERGER (GBFG.DE)
Indicated 6.5 percent lower
Shares in the construction company trade ex-rights after it launched a 25 percent capital increase.
Related news [GBFG.DE-E]
LANXESS (LXSG.DE)
Indicated 3.4 percent lower
The specialty chemicals company is having a hard time passing higher feedstock costs along to customers amid a recent surge in commodity prices, its chief executive told Swiss paper Finanz und Wirtschaft.[ID:nL6413422]
Related news [LXSG.DE-E]
FREENET FNTG.DE
Indicated 0.8 percent higher
The telecoms company agreed to sell its call center in Kiel to ADM Group for an undisclosed price.
Related news [FNTG.DE-E]
CONERGY (CGYG.DE)
Indicated 12.5 percent higher
MEMC withdrew a legal complaint against the solar power specialist after both companies reached an agreement over a $4 billion supply contract, Handelsblatt reports, citing a U.S. legal filing by CEMC.
Related news [CGYG.DE-E]
LEONI (LEOGn.DE)
Indicated 2.0 percent lower
Leoni will sell a 9.88 percent stake in its own shares that it held as part of an earlier buyback programme because it no longer plans to use the shares for acquisitions, the company said. Goldman and UniCredit will offer the shares to institutional investors in an accelerated bookbuilding process.
Related news [LEOGn.DE-E]
GERMAN BANKS DBKG.DE (CBKG.DE)
Commerzbank seen down 0.8 percent
The German banking industry is claiming a combined 50 billion euros out of the remaining Lehman Brothers assets, Handelsblatt reported, citing documents it obtained.
Related news [DBKG.DE-E] [CBKG.DE]
OPEL [GM.UL]
PricewaterhouseCoopers (PwC) has identified several risks involved in Magna's (MGa.TO) plan to take a 55-percent stake with Russian partner Sberbank (SBER.RTS) in German carmaker Opel, Handelsblatt daily said. [ID:nL6416800]
INDEX CHANGES
Shares of nationalised German lender Hypo Real Estate HRXG.DE will leave Germany's small-cap SDAX index .SDAXI as of Oct. 9 and be replaced by those of retailer Hornbach Holding (HBHG_p.DE), Deutsche Boerse said.
Related news [HBHG_p.DE-E] [HRXG.DE-E]
OVERSEAS STOCK MARKETS
Dow Jones .DJI +1.4 pct, S&P 500 .SPX +1.4 pct, Nasdaq .IXIC +1.7 pct at Tuesday's close. [ID:nN06490393]
Nikkei .N225 +1.11 pct at close. [ID:nT271447]
ECONOMIC DATA
August industrial orders due at 1000 GMT seen increasing by 1.2 percent from July
G7TODAY ECONDE
European Factors to watch [WATCH/EU]
Diaries [DE/DIA] [WEU/EWQUITY]
Reuters Top News [ID:nTOPNEWS]
(Reporting by Ludwig Burger and Tyler Sitte)
