September 20, 2013 / 5:19 AM / 4 years ago

German stocks - Factors to watch on September 20

FRANKFURT, Sept 20 (Reuters) - The DAX top-30 index looked set to open 0.1 percent lower on Friday, according to premarket data from brokerage Lang & Schwarz at 0611 GMT.

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


Indicated 6.2 percent lower

Adidas warned on 2013 profit on Thursday, saying adverse currency effects, a distribution problem in Russia and poor trading at its golf business meant targets were no longer attainable.

The company also expanded its board with a new sales chief.

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Indicated 4.5 percent lower

RWE said it plans to pay a dividend of 1 euro per common or preferred share for 2013, down from 2 euros previously, and will cut its future payout ratio to 40-50 percent of net profit, from 50-60 percent previously, as the renewable energies bite. It stuck to its 2013 earnings targets, however.

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Indicated 0.4 percent lower

Sprint Corp and T-Mobile US Inc confirmed on Thursday they will not participate in Canada’s upcoming auction of prized wireless spectrum, joining larger rival Verizon Communications Inc in shunning the market.

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Indicated 0.6 percent lower

Allianz’s U.S. bond giant Pimco expects global economic growth to accelerate over the next year while being vulnerable to negative economic surprises from Japan, a note published on the firm’s website said on Thursday.

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Indicated 0.5 percent higher

Bilfinger plans to cut 1,250 jobs worldwide, or just under 2 percent of its workforce, over the next two years as it seeks to cut sales and administration costs. The company also said Pieter Koolen had joined the executive board, while Thomas Toepfer would leave it on Oct. 31.

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GAGFAH - Deutsche Bank raises rating to “buy” from “hold”


Dow Jones -0.26 pct, S&P 500 -0.18 pct, Nasdaq +0.15 pct at Thursday’s close.

Nikkei -0.16 pct at Friday’s close.



REUTERS TOP NEWS (Reporting by Peter Dinkloh, Jonathan Gould and Ludwig Burger)

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