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German stocks - Factors to watch on October 29
October 29, 2012 / 6:21 AM / 5 years ago

German stocks - Factors to watch on October 29

FRANKFURT, Oct 29 (Reuters) - The DAX top-30 index looked set to open 0.4 percent lower on Monday, according to premarket data from brokerage Lang & Schwarz at 0728 GMT.

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

LINDE

Indicated 0.6 percent higher

The industrial gases producer reported adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) rose 12.9 percent to 908 million euros in the third quarter, slightly ahead of the average forecast of 898 million euros in a Reuters poll. Poll:

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ADIDAS

Indicated unchanged

The struggling Reebok brand of Germany’s sporting goods maker expects sales to rebound next year, Wirtschaftswoche reported on Saturday, citing Chief Marketing Officer Matt O‘Toole.

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BMW

Indicated 0.4 percent lower

The world’s biggest luxury-car maker could endure a 30 percent slump in sales without posting losses or having to lay off staff thanks to an anti-crisis package agreed between staff and management, Der Spiegel reported on Sunday.

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E.ON

Indicated unchanged

Germany’s largest utility confirmed the appointment of its management board members for the remainder of their existing contracts and at least through end-2013. The move is part of its transformation into a corporation under European Union law.

Germany’s state of North Rhine-Westphalia is in talks with E.ON over a special permit for a coal-fired power plant to prevent possible disruptions to rail services by potential power shortages, WAZ reported on Saturday, citing environment minister Johannes Remmel.

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GEA GROUP

Indicated 0.3 percent lower

The industrial engineering group reported earnings before interest and tax (EBIT) of 133.3 million euros in the third quarter, slightly below the Reuters poll average of 137 million euros. Poll:

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MAN SE

Indicated 0.6 percent lower

The German truckmaker plans to halt production of heavy-duty vehicles for four weeks at two German factories starting on Monday, responding to the deepening economic downturn’s impact on truck demand, company sources said.

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MUNICH RE

Indicated 0.7 percent lower

The head of the world’s biggest reinsurer opposes another debt restructuring, or ‘haircut’, for Greece, saying faith in governments’ ability to solve the debt crisis would be lost for good if such a step was taken, Frankfurter Allgemeine Sonntagszeitung reported, citing chief executive Nikolaus von Bomhard.

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SAP

Indicated 0.1 percent lower

The German software company may be able to sustain high sales from software and related services “for a very long time,” co-CEO Bill McDermott told Euro am Sonntag in an interview. SAP currently has no plans for further acquisitions, the newspaper quoted McDermott as saying.

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THYSSENKRUPP

Indicated 1.4 percent lower

The German steelmaker has no plans to divest its Europe-based steel operations, a company spokesman said on Sunday, refering to previous comments from chief executive Heinrich Hiesinger. German magazine Der Spiegel had reported that the CEO wants to turn ThyssenKrupp into a technology-focused company.

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VOLKSWAGEN

Indicated 0.6 percent lower

Q3 results of premium car unit Audi due.

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BALDA

No indication availabe

The German company aims to make an acquisition in medical engineering before the end of the year, Welt am Sonntag reported on Saturday, citing chief executive Dominik Mueser.

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PRAKTIKER

Indicated 0.1 percent higher

Workers at the German DIY chain agreed to accept cuts in annual pay worth about five percent per year through 2014 to back efforts to restructure the troubled company, Praktiker said on Saturday.

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BERTELSMANN

Bertelsmann is merging its Random House book business with Pearson’s Penguin, creating the world’s leading trade publisher, with Bertelsmann holding a 53 percent stake in the merged entity, the companies said.

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OVERSEAS STOCK MARKETS

Dow Jones up 0.03 pct, S&P 500 down 0.07 pct, Nasdaq up 0.06 pct at Friday’s close.

Nikkei closed flat on Monday.

GERMAN ECONOMIC DATA

German preliminary October inflation data due. CPI seen unchanged m/m, +2.0 pct y/y. HICP seen unchanged m/m, +2.0 y/y.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Andreas Cremer and Jonathan Gould)

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