German stocks - Factors to watch on Nov 20
FRANKFURT, Nov 20 (Reuters) - The DAX top-30 index .GDAXI looked set to open 3.5 percent lower on Thursday, according to pre-market data from brokers at 0725 GMT.
The following are some factors that may move German stocks on Thursday (share price indications at 0725 GMT):
DEUTSCHE BANK (DBKGn.DE)
Indicated 3.6 percent lower
Deutsche Bank will sack about one in seven traders, roughly 900 staff, in its single biggest cut to investment banking since the onset of the financial crisis, sources with knowledge of the plan told Reuters. [ID:nLJ576582]
Related news [DBKGn.DE-E]
BAYER BAYG.DE
Indicated 3.5 percent lower
Bayer's buoyant health care business will help the group ride out recession, and the same conglomerate structure makes it an unlikely bid target, a top Bayer executive said on Wednesday. [ID:nLJ117393] [ID:nN19335637] [ID:nN19325315]
Related news [BAYG.DE-E]
VOLKSWAGEN (VOWG.DE)
Indicated 2.6 percent lower
Audi is pressing ahead with investment to expand its line-up despite a slump in industry-wide sales expected to continue through 2009. "I have never seen so many uncertainties in the market, so to make a prediction of what 2009 will bring is in my mind totally impossible," said Peter Schwarzenbauer, Audi's sales chief. [ID:nN19367557]
Separately, Lamborghini's CEO said the sports car maker will enter Latin America next year and expand its presence in China. [ID:nN19366542]
Related news [VOWG.DE-E]
DAIMLER (DAIGn.DE)
Indicated 7.4 percent lower
Smart expects to sell at least as many vehicles in the United States in 2009 as this year, the head of its U.S. division said on Wednesday. [ID:nN19523236]
Related news [DAIGn.DE-E]
DEUTSCHE TELEKOM (DTEGn.DE)
Indicated 3.7 percent lower
Yahoo Inc (YHOO.O) announced an expansion of its mobile Web portals to T-mobile, so its smart phone users who get data will have Yahoo search by default. Yahoo started serving T-mobile in 10 European countries this year, sharing ad search revenue. [ID:nN19355642] [ID:nLJ633749] [ID:nLJ362353] [ID:nLJ609868] [ID:nLJ706519] [ID:nLJ653497]
Related news [DTEGn.DE-E]
LUFTHANSA (LHAG.DE)
Indicated 3.4 percent lower
Lufthansa's CEO expressed frustration on Wednesday over U.S. restrictions on foreign ownership of airlines, saying nobody should be afraid of foreign direct investment and that fresh capital would be of benefit to the United States. [ID:nN19360759] [ID:nLK526486] [ID:nLJ631928]
Separately, Lufthansa's CFO said the airline would consider selling bmi's [BMID.UL] low-cost carrier, bmibaby. [ID:nLJ564047]
Related news [LHAG.DE-E]
SIEMENS (SIEGn.DE)
Indicated 3.1 percent lower
CEO Peter Loescher said he was confident, telling Sueddeutsche Zeitung newspaper: "Our businesses are currently still largely stable." [ID:nLK502082]
Related news [SIEGn.DE-E]
METRO (MEOG.DE)
Indicated 3.5 percent lower
Management board member Frans Muller told Reuters Metro expects stable Christmas sales. [ID:nLJ728931]
Related news [MEOG.DE-E]
WINCOR NIXDORF (WING.DE)
Indicated 2.3 percent lower
Wincor Nixdorf hopes for flat sales and core profit in 2008/09, its CFO said. [ID:nLJ392366]
Related news [WING.DE-E]
IKB (IKBG.DE)
Indicated 3.9 percent higher
IKB forecast a full-year 2008/09 net loss of around 400 million euros. [ID:nWEB2026]
Related news [IKBG.DE-E]
GAGFAH (GFJG.DE)
Indicated 2.1 percent lower
Gagfah posted Q3 earnings below market expectations. [ID:nLJ617681]
Related news [GFJG.DE-E]
FREENET FNTG.DE
Indicated 1.0 percent lower
Freenet said it plans to cut around 1,000 full-time jobs. [ID:nWEB2062]
Related news [FNTG.DE-E]
NORDEX (NDXGk.DE)
Indicated 7.5 percent lower
Nordex reported a 58 percent rise in nine-month sales and forecast 10-15 percent 2009 sales growth although it now sees a higher risk of delayed projects. [ID:nLJ431079]
Related news [NDXGk.DE-E]
ARQUES (AQUG.DE)
Indicated 4.6 percent lower
Arques's nine-month revenue quadrupled to 3.93 billion euros. [ID:nWEB2050]
Related news [AQUG.DE-E]
OVERSEAS STOCK MARKETS
Dow Jones .DJI -5.1 pct, S&P 500 .SPX -6.1 pct, Nasdaq .IXIC -6.5 pct. [ID:nN19359976]
Nikkei .N225 -6.9 pct. [ID:nT365231]
AUTO INDUSTRY BAILOUT
Chances dimmed that a $25 billion plan being crafted by Republican U.S. senators, with White House support, to bail out U.S. automakers would pass before the end of this week. Without a deal in that time, any bailout is likely to have to wait until the new Obama administration takes over in January. [ID:nN19320198] [ID:nLJ734069]
European factors to watch [WATCH/EU]
Diaries [DE/DIA] [WEU/EQUITY]
Reuters TOP NEWS [ID:nTOPNEWS] (Reporting by Peter Starck)
