German stocks - Factors to watch on May 12
FRANKFURT, May 12 (Reuters) - The DAX top-30 index .GDAXI looked set to open 0.8 percent lower on Tuesday, according to pre-market data from brokers at 0635 GMT.
Factors that may move German stocks on Tuesday:
DEUTSCHE BANK (DBKGn.DE)
Indicated 1.9 percent lower
Huntsman Corp (HUN.N) said a Texas court cleared the way for the chemical maker to go forward with a multibillion dollar suit against Credit Suisse (CSGN.VX) and Deutsche Bank stemming from its failed takeover by Apollo Management's Hexion Specialty Chemicals unit. [ID:nN11150193]
Related news [DBKGn.DE-E]
DEUTSCHE BOERSE (DB1Gn.DE)
Indicated 0.5 percent lower
Deutsche Boerse reported Q1 EBITA of 312 million euros, above market expectations. [ID:nLB251465] [ID:nLB142777] [ID:nN11546201]
Related news [DB1Gn.DE-E]
VOLKSWAGEN (VOWG.DE), PORSCHE (PSHG_p.DE)
VW indicated 0.3 percent lower
Porsche indicated 0.6 percent lower
Volkswagen should integrate majority shareholder Porsche in any future merger, VW Chairman Ferdinand Piech said. [ID:nFAB013105]
Related news [VOWG.DE-PSHG_p.DE-E-MRG]
BASF (BASF.DE)
Indicated 0.2 percent higher
BASF's business in Asia could see a further decline after a Q1 regional sales fall of 34 percent, Martin Brudermueller, head of the chemicals group's Asian operations, told German newspaper Frankfurter Allgemeine Zeitung. [ID:nLB746408]
Related news [BASF.DE-E]
LUFTHANSA (LHAG.DE)
Indicated unchanged
Lufthansa is asking fellow shareholders in Britain's bmi [BMI.UL] to inject more capital ahead of an agreed acquisition, a source close to the talks told Reuters. [ID:nLB39811]
Lufthansa said it got more than 85 percent of Austrian Airlines (AUAV.VI) in a tender. [ID:nWEA1621] [ID:nWEA1615]
Later, Lufthansa is die to report April passenger traffic. [ID:nWLA3453] [ID:nSAT006256] [ID:nFAB013086] [ID:nDUB000929] [ID:nN07354402] [ID:nLB88993]
Related news [LHAG.DE-E]
FRAPORT (FRAG.DE)
Indicated 1.9 percent lower
Fraport expects 2009 operating profit to fall by as much as 15 percent, it said, reporting Q1 EBITDA of 99.8 million euros, in line with market expectations. Fraport said it expected Frankfurt airport passenger volume to fall 6-9 percent in the full-year 2009. [ID:nWEA1538] [ID:nL71003666]
Related news [FRAG.DE-E]
EADS (EAD.DE)
Indicated 3.6 percent lower in Frankfurt
EADS reported Q1 EBIT of 0.4 billion euros, below market expectations, but forecast a significantly positive full-year 2009 EBIT* before one-offs. [ID:nLC683448] [ID:nWEA1560] [ID:nWEA1553] [ID:nL8970892]
Related news [EAD.PA-E]
KUKA (KU2G.DE)
Indicated 2.3 percent lower
Kuka reported a 47 percent fall in Q1 orders to 213.7 million euros and said it expected full-year 2009 EBIT to break even or be slightly positive, not taking into account Chapter 11 of Chrysler or other customers. [ID:nWEA1551] [ID:nLB346965]
Related news [KU2G.DE-E]
AAREAL BANK (ARLG.DE)
Indicated 1.9 percent lower
Aareal Bank reported a Q1 net profit of 7 million euros, below market expectations, and said it cannot rule out further risk provisions in 2009. [ID:nWEA1574] [ID:nLB331796] [ID:nLB529657]
Related news [ARLG.DE-E]
DOUGLAS (DOHG.DE)
Indicated 2.0 percent lower
Douglas reported a bigger than expected fiscal Q2 EBIT loss of 25.1 million euros and cut its full-year sales growth forecast to 2 percent from 3-6 percent earlier. [ID:nLC739700] [ID:nWEA1603] [ID:nL8207904]
Related news [DOHG.DE-E]
ARCANDOR (AROG.DE)
Indicated 4.3 percent lower
Arcandor has convened a supervisory board meeting for Sunday, a source close to the matter said. [ID:nWEA1521]
Related news [AROG.DE-E]
Q-CELLS (QCEG.DE)
Indicated 6.1 percent lower
Q-Cells reported Q1 EBIT of 14.7 million euros, above market expectations, but cut its full-year 2009 revenue forecast to between 1.3 billion and 1.6 billion euros, citing deteriorating financing conditions for large solar power projects. [ID:nLB294460] [ID:nWEA1579] [ID:nLB350745]
Related news [QCEG.DE-E]
SOLON (SOOG.DE)
Indicated 9.9 percent lower
Solon reported a bigger than expected Q1 EBIT loss of 20.7 million euros and forecast a another loss in Q2. [ID:nWEA1570] [ID:nLB354391] [ID:nL8287392]
Related news [SOOG.DE-E]
SMARTRAC (SM7.DE)
Indicated 0.5 percent lower
Smartrac reported Q1 EBITDA of 2.5 million euros, above market expectations. [ID:nEQkerrdue]
Related news [SM7.DE-E]
DIC Asset (DAZG.DE)
Indicated 1.5 percent lower
DIC Asset reported Q1 net profit of 2.6 million euros, above market expectations. [ID:nWEA1571]
Related news [DAZG.DE-E]
GRAMMER (GMMG.DE)
Indicated 3.9 percent lower
Grammer reported a Q1 EBIT loss of 8.6 million euros, in line with market expectations, and said it did not see any significant improvement in demand over the next several months. [ID:nEQuftiemx]
Related news [GMMG.DE-E]
EVOTEC ECTG.DE
Indicated 1.5 percent higher
Evotec reported a Q1 operating loss of 20.2 million euros, primarily due to a 6.6 million euro impairment charge and 1.4 million euros in restructuring expenses. [ID:nGNW65213a]
Related news [EVTG.DE-E]
EX-DIVIDEND
Symrise (SY1G.DE), payout 0.5 eur/shr
ANNUAL GENERAL MEETINGS
Bayer BAYG.DE, proposed dividend 1.4 eur/shr
Rheinmetall (RHMG.DE), proposed dividend 1.3 eur/shr
Altana (ALTG.DE), proposed dividend 0.1 eur/shr
Grenkeleasing, proposed dividend 0.6 eur/shr
OVERSEAS STOCK MARKETS
Dow Jones .DJI -1.8 pct, S&P 500 .SPX -2.2 pct, Nasdaq .IXIC -0.5 pct. [ID:nN117187]
Nikkei .N225 -1.6 pct. [ID:nT155627]
GERMAN BANKS AND STATE LIQUIDITY GUARANTEES
German banks have used only two-thirds of the 132.9 billion euros of liquidity guarantees provided by state rescue fund SoFFin because banks perceive the terms as too inflexible, German business daily Handelsblatt cited financial industry sources as saying.
GENERAL MOTORS GM.N, OPEL
GM said on Monday it was interested in retaining a minority stake in its restructured European operations and plans to have a framework for a deal to sell the division by the end of the month. [ID:nN11549649] [ID:nN11529892] [ID:nN11527661] [ID:nN11125497]
GERMAN ECONOMIC DATA
April HICP confirmed at +/-0 pct mth/mth, +0.7 pct yr/yr. [ID:nBAF001673]
ECONDE G7TODAY
European Factors to watch [WATCH/EU]
Diaries [DE/DIA] [WEU/EWQUITY]
Reuters Top News [ID:nTOPNEWS]
(Reporting by Ludwig Burger and Peter Starck)
