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German stocks - Factors to watch on October 23
October 23, 2012 / 5:16 AM / 5 years ago

German stocks - Factors to watch on October 23

FRANKFURT, Oct 23 (Reuters) - The DAX top-30 index looked set to open 0.1 percent higher on Tuesday, according to premarket data from brokerage Lang & Schwarz at 0647 GMT.

The following are some of the factors that may move German stocks on Tuesday:

BMW

Indicated 0.2 pct higher lower

The German premium carmaker said it aims to invest more than 200 million euros ($261.41 million) in a new plant in Joinville, Brazil, in the state of Santa Catarina. Plans call for a capacity of about 30,000 vehicles per year with production slated to begin in 2014.

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COMMERZBANK

Indicated 0.6 pct higher

Germany’s second biggest lender has mandated UBS to help it sell its custodian business, two people familiar with the transaction told Reuters.

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CONTINENTAL AG

Indicated 0.8 pct higher

Rival tyre maker Michelin said revenue rose 5.7 percent in the third quarter as buoyant pricing and currency effects helped to offset a decline in sales volumes.  Related news

LANXESS

Indicated 0.3 pct higher

In order to escape the downturn in Europe, the German chemicals company is looking to expand deeper into Asian emerging markets following massive investments in China and Brazil, Chief Executive Axel Heitmann told Handelsblatt.

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THYSSENKRUPP

Indicated 0.6 pct lower

Chairman Gerhard Cromme plans to review the role of board member Eichler as part of an internal probe into a rail track cartel, Handelsblatt said.

Separately, a source told Reuters that POSCO, the world’s fourth-biggest steelmaker, is not seriously considering buying ThyssenKrupp’s steel mills in Brazil and the United States.

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LEONI

Indicated 1.6 pct lower

The automotive cable and wiring supplier warned on Monday that a weak car market would push its 2012 revenue and profit targets below expectations.

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MTU AERO ENGINES

Indicated 1.2 percent higher

The aircraft engine maker said third-quarter sales jumped 26 percent, thanks to the sale of engines for the popular A320 passenger jet from Airbus.

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OVERSEAS STOCK MARKETS

Dow Jones up 0.02 pct, S&P 500 up 0.04 pct, Nasdaq up 0.4 pct at Monday’s close.

Nikkei +0.04 pct at Tuesday’s close.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS ($1 = 0.7651 euros) (Reporting by Christiaan Hetzner and Edward Taylor)

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