January 14, 2013 / 6:11 AM / 5 years ago

German stocks - Factors to watch on January 14

FRANKFURT, Jan 14 (Reuters) - The DAX top-30 index looked set to open 0.3 percent higher on Monday, according to premarket data from brokerage Lang & Schwarz at 0715 GMT.

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


Indicated 0.5 percent higher

German carmaker Volkswagen aims to increase sales further this year after posting record deliveries last year, Chief Executive Martin Winterkorn said on Sunday.

Separately, the group said on Sunday group sales rose 11.2 percent last year to a record 9.07 million vehicles, powered by demand from China and the United States.

Also, a Brazilian judge ordered the German carmaker to recall cars with its 1.0 liter engine in the 2009/2010 model year, in a decision that could affect 400,000 vehicles. Volkswagen said it was surprised by the order.

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Indicated 0.3 percent lower

The European Commission is considering Daimler’s request for a six-month grace period before imposing fines on the carmaker for not using a controversial new coolant in its cars, Stuttgarter Zeitung reported on Saturday, citing a spokesman for EU Industry Commissioner Antonio Tajani. He said the Commission would make a decision “in a few weeks”.

Separately, German magazine Der Spiegel reported that Daimler will extend Chief Executive Dieter Zetsche’s contract by five years, two years more than expected.

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Indicated 0.6 percent lower

The German luxury carmaker is rolling out a new range of sporty new diesel sedans in the United States this year to complement its sole diesel on offer and believes the hitherto unloved powertrain will find greater acceptance in an age of downsized engines.

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Indicated 0.1 percent lower

U.S. electricity regulators are in settlement talks with Deutsche Bank over allegations the bank manipulated the California electricity market, staff of the Federal Energy Regulatory Commission said in a filing Friday.

Separately, Moneygram Payment Systems Inc has filed a suit against Deutsche Bank in New York, demanding at least $34 million in damages related to investments in residential mortgage-backed securities and collateralised debt obligations. Deutsche Bank said Moneygram’s claim had already been dismissed by a court in Minnesota, adding it saw the claim as unfounded.

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Indicated 0.1 percent higher

The company aims to cut its debt to 6.5 billion euros ($8.7 billion) from about 7 billion, its Chief Executive Bernd Scheifele told Frankfurter Allgemeine Sonntagszeitung in an interview.

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Indicated 0.4 percent higher

The business software maker’s Chairman Hasso Plattner said SAP’s independence was secured for the medium term as the company was “clearly out of the speculative zone” it was in a few years ago, according to Handelsblatt newspaper.

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Indicated 0.2 percent higher

The agriculture, building material and energy conglomerate posted a slightly better than expected 2012 results, Frankfurter Allgemeine Zeitung cited finance chief Andreas Helber as saying in an interview published on Saturday.

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Indicated 0.3 percent lower

VW’s CEO said it would be at least another year until the situation at truck maker MAN SE improves.

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Indicated 0.5 percent lower

Rupert Murdoch’s News Corp will increase its stake in Sky Deutschland to 54.5 percent after striking a financing deal with the German pay-TV company.

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Indicated 2.0 percent lower

The solar company is cutting working hours of 350 of its 1,330 employees in the German city of Freiberg to bridge a seasonal downturn, German paper Freie Presse cited a manager at the company as saying on Saturday.

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Indicated 0.6 percent higher

The leasing company sees no reason to make major changes to its dividend payout ratio of 25-30 percent of profit, its finance chief Joerg Eicker told Boersen-Zeitung in an interview published on Saturday.

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Indicated unchanged

The fashion retailer aims to raise its annual sales by about half to 900 million euros this year and post an operating profit of about 108 million, while opening 100 new stores in Europe, its finance chief Axel Rebien told Frankfurter Allgemeine Sonntagszeitung in an interview.

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Dow Jones +0.1 pct, S&P 500 flat, Nasdaq +0.1 pct at Friday’s close.

Nikkei closed due to public holiday.


ALLIANZ - Barclays raises its price target on the stock to 121 euros from 111 euros, with an “overweight” rating.

FRESENIUS MEDICAL CARE - Berenberg raises the stock to “buy” from “hold” and cuts its price target to 61 euros from 62 euros.

MUNICH RE - Barclays raises its recommendation on the stock “overweight” from “equal weight” and hikes its price target to 157 euros from 142 euros.


Opel’s new Chief Executive Karl-Thomas Neumann will take office on March 1, four months sooner than expected, as Volkswagen is letting him out of his contract early, a person familiar with the matter told Reuters.

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German December wholesale prices +3.2 pct y/y, unchanged m/m. Avg 2012 prices +2.8 pct vs 2011.



REUTERS TOP NEWS ($1 = 0.7493 euros) (Reporting by Maria Sheahan and Christoph Steitz)

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