February 12, 2014 / 6:11 AM / in 4 years

German stocks - Factors to watch on February 12

FRANKFURT, Feb 12 (Reuters) - The DAX top-30 index looked set to open 0.3 percent higher on Wednesday, according to premarket data from brokerage Lang & Schwarz at 0717 GMT.

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


Indicated 0.4 percent higher

German insurer Allianz on Tuesday took an 8.33 percent stake in Bayern Munich football club for 110 million euros. Allianz said it had extended the naming rights for the Allianz Arena in Munich, including an option to extend the naming rights until 2041.

Separately, Allianz’s Pimco Total Return Fund increased its holdings of U.S. government-related securities in January to notch a modest gain for the month after Treasuries prices rose, data from the firm’s website showed on Tuesday.

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Indicated 0.6 percent higher

Germany’s luxury auto maker Daimler will pursue deeper cost cuts than an initially targeted 2 billion euros ($2.74 billion)in savings by 2014 as a way to raise profits at its Mercedes car division, Chief Executive Dieter Zetsche said on Tuesday.

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Indicated 0.6 percent higher

The U.S. Federal Reserve plans to vote on a proposal that requires foreign banks with big U.S. operations, such as Deutsche Bank, to group all their subsidiaries under a single holding company, according to a notice on the agency’s website.

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Indicated 0.3 percent higher

The diversified healthcare group late on Tuesday said it had successfully placed $300 million in dollar-denominated senior unsecured notes with a maturity of 7 years and a coupon of 4.25 percent. The notes were issued at par and oversubscribed, Fresenius said.

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Indicated 0.3 percent higher

Volkswagen’s Porsche expects to hit a target of selling more than 200,000 sports cars next year, three years earlier than originally scheduled, as the brand keeps pushing into sport-utility vehicles, Chief Executive Matthias Mueller said.

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Indicated 0.3 percent higher

Passenger numbers at Frankfurt airport rose by 3.4 percent in January.

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Indicated 1.9 percent higher

The maker of industrial robots reported a 19.2 percent gain in fourth-quarter earnings before interest and tax (EBIT) to 32.9 million euros, with a margin that improved to 7.4 percent from 6.4 percent. Poll:

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Indicated 1 percent higher

The travel and tourism group said it was more confident for its struggling Hapag-Lloyd cruises unit as it reported quarterly results on Wednesday.

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Indicated 0.9 percent higher

The automotive supplier reported its fourth-quarter EBIT rose to 49 million euros from 39.1 million and affirmed its 2014 and 2016 outlook.

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Indicated 2.3 percent higher

Drillisch said it had exceeded its full year guidance, and that EBITDA had risen 14.4 pct in 2013, to 70.8 million euros. Drillisch further said it planned to propose a dividend of 1.60 euros per voting share.

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METRO - no dividend proposed

TUI - 0.15 eur/shr dividend proposed


Dow Jones +1.2 pct, S&P 500 +1.1 pct, Nasdaq +1 pct at Tuesday’s close.

Nikkei +0.6 pct at Wednesday’s close.



REUTERS TOP NEWS ($1 = 0.7312 euros) (Reporting by Ludwig Burger and Maria Sheahan)

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