German stocks - Factors to watch on March 18
FRANKFURT, March 18 (Reuters) - The DAX top-30 index .GDAXI looked set to open 1.8 percent higher on Wednesday, according to pre-market data from brokers at 0720 GMT.
The following are some of the factors that may move German stocks on Wednesday (share price indications at 0720 GMT):
BMW (BMWG.DE)
Indicated 1.1 percent higher
Annual press conference at 0900 GMT.
Related news [BMWG.DE-E]
ALLIANZ (ALVG.DE)
Indicated 2.3 percent higher
Allianz Global Investors aims to merge most of its mutual funds with those of German asset management rival Cominvest rather than asking investors to switch between products or close funds. [ID:nLH949634]
Related news [ALVG.DE-E]
COMMERZBANK (CBKG.DE), CONTINENTAL (CONG.DE)
Commerzbank indicated 4.1 percent higher
Continental indicated 0.4 percent higher
Ex-Dresdner Bank CFO Klaus Rosenfeld will be the new CFO of Schaeffler Group, a person familiar with the situation told Reuters. [ID:nWEA2973]
Related news [CBKG.DE-E], [CONG.DE-E]
DEUTSCHE TELEKOM (DTEGn.DE)
Indicated 0.9 percent higher
The company's T-Mobile unit continued to win customers in Britain in the first months of this year, the head of its contract-customer business in Britain told Reuters. [ID:nLH953727]
Related news [DTEGn.DE-E]
HEIDELBERGCEMENT (HEIG.DE)
Indicated 2.8 percent higher
HeidelbergCement plans to slash its dividend to 0.12 euros/share for 2008 from 1.30 euros in 2007 and said it confirmed its 2009 turnover and operating income forecasts. [ID:nWEA2983]
Related news [HEIG.DE-E]
LANXESS (LXSG.DE)
Indicated 0.9 percent higher
The company reported adj. EBITDA of 87 million euros for Q4, above the 78 million euros estimate in a Reuters poll. It also proposes a dividend of 0.50 per share, compared with 0.99 euros expected by analysts. [ID:nWEA3025] [ID:nLD946003]
Related news [LXSG.DE-E]
PRAKTIKER (PRAG.DE)
Indicated 3.2 percent higher
The home improvement retailer will save almost half a million euros in personnel costs in March through shortened working hours, its CEO tells the Frankfurter Allgemeine Zeitung newspaper.
Related news [PRAG.DE-E]
AAREAL BANK (ARLG.DE)
Indicated 0.7 percent higher
Aareal placed a 2.0 billion euro 3-year bond backed by German rescue fund guarantees for the first time, and Aareal's CEO said the government would not gain any influence on the bank's operating business through its use of the funds. [ID:nWEA2981]
Related news [ARLG.DE-E]
SGL Carbon (SGCG.DE)
Indicated 3.3 percent higher
The company reported 2008 net profit of 189.6 million euros, compared with a forecast of 191 million in a Reuters poll. It adds it sees 2009 sales and EBIT down yr/yr. [ID:nWEA3026] [ID:nLD67428]
Related news [SGCG.DE-E]
WACKER CHEMIE (WCHG.DE)
Indicated unchanged
The company reported 2008 net income after taxes of 438 million euros, up from 422 million in 2007. [ID:nWEA3017]
Related news [WCHG.DE-E]
ARCANDOR (AROG.DE)
Indicated 1.4 percent higher
Annual General Meeting at 0900 GMT.
Related news [AROG.DE-E]
DOUGLAS (DOHG.DE)
Indicated 1.2 percent higher
Annual General Meeting at 0830 GMT.
Related news [DOHG.DE-E]
PHOENIX SOLAR (PS4G.DE)
Indicated 1.1 percent higher
The company said it confirms its 2009 outlook of 520 million euros of sales and 31 million euros of EBIT.
Related news [PS4G.DE-E]
FREENET FNTG.DE
Indicated 4.0 percent higher
Telefonica (TEF.MC) may be eyeing a takeover, financial newsletter Platow Brief reports, without citing sources.
Related news [FNTG.DE-E]
ROFIN SINAR (RSTI.DE)
Indicated 0.6 percent higher in Frankfurt
Annual General Meeting.
Related news [RSTI.O-DE]
DUERR (DUEG.DE)
Indicated 1.9 percent higher
Annual press conference at 0830 GMT.
Related news [DUEG.DE-E]
ELMOS SEMICONDUCTOR (ELGG.DE)
Indicated 5.4 percent higher
Annual press conference. The company late Tuesday reported consolidated net income for 2008 of 10.6 million euros.
Related news [ELGG.DE-E]
OVERSEAS STOCK MARKETS
Dow Jones .DJI +2.5 pct, S&P 500 .SPX +3.2 pct, Nasdaq .IXIC +4.1 pct. [ID:nN17306121]
Nikkei .N225 +0.3 pct. [ID:nT370904]
GERMAN BANKS
The period during which German banks can receive state guarantees will be extended to 60 months from the current 36 months only in special cases, according to the draft of a new law seen by Reuters on Tuesday. [ID:nLH21050]
Related news [BNK-DE-E]
EUROPEAN FACTORS TO WATCH [WATCH/EU]
DIARIES [DE/DIA] [WEU/EQUITY]
REUTERS TOP NEWS [ID:NTOPNEWS]
(Reporting by Jonathan Gould and Christoph Steitz)
