March 28, 2013 / 6:26 AM / 5 years ago

German stocks - Factors to watch on March 28

FRANKFURT, March 28 (Reuters) - The DAX top-30 index looked set to open flat on Thursday, according to premarket data from brokerage Lang & Schwarz at 0736 GMT.

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


Indicated 0.3 percent lower

Deutsche Bank lost a bid Wednesday to end a shareholder lawsuit accusing it of misrepresenting the risk of packaging home loans into complex financial products.

U.S. District Judge Katherine Forrest in Manhattan denied a motion by the German bank to dismiss the lawsuit, which seeks class action status on behalf of investors accusing Deutsche Bank of scheming to maximize profits at their expense.

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Indicated 0.1 percent lower

Influential proxy advisory firm ISS threw its weight behind opponents of MetroPCS Communications Inc’s proposed merger with T-Mobile USA, saying the deal undervalued the company and shareholders should vote against it.

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Indicated 0.2 percent lower

Syngenta and Bayer, top producers of the pesticides blamed for a sharp fall in bee populations around the world, have proposed a plan to support bee health to try to forestall a European Union ban on the products.

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Indicated 0.3 percent lower

Comdirect head Thorsten Reitmeyer told Handelsblatt newspaper he did not expect Commerzbank to sell the online brokerage unit. “There is no discussion about it,” he said.

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Indicated 0.2 percent higher

German carmaker Daimler expects to book a non-cash gain in the second quarter after revaluing its 7.5 percent stake in aerospace group EADS to account for a loss of influence.

Related news:


Dow Jones -0.2 pct, S&P 500 -0.1 pct, Nasdaq +0.1 pct at Wednesday’s close.

Nikkei -1.3 pct at Thursday’s close.


Retail sales rose by a real 0.4 percent month-on-month and fell by a real 2.2 percent in February. The mid-range forecast of analysts polled by Reuters was for retail sales to fall by 1.0 percent percent month-on-month and to rise by 0.4 percent year-on-year.

March unemployment data due at 0855 GMT, with seasonally adjusted jobless numbers seen down by 4,000, for a seasonally adjusted unemployment rate of 6.9 percent.


REUTERS TOP NEWS (Reporting by Edward Taylor, Jonathan Gould and Christoph Steitz)

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