January 21, 2013 / 6:16 AM / 5 years ago

German stocks - Factors to watch on January 21

FRANKFURT, Jan 21 (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 0711 GMT.

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


Indicated 0.1 percent higher

BASF said that it agreed with Petronas to no longer pursue an extension of their partnership to a joint petrochemicals venture in Pengerang, Johor, Malaysia.

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Indicated 0.4 percent higher

Deutsche Bank said it would keep dealing in financial derivatives that prominent non-profit groups Oxfam and Foodwatch blame for pushing up international food prices and promoting famine in poor countries.

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Indicated 0.5 percent higher

Daimler Chief Executive Dieter Zetsche expects his contract to be renewed after his current term as head of the car and truck maker expires at the end of this year, he told a German newspaper.

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Indicated 0.7 percent higher

A renewal of the law covering postal services could be put into effect in the current legislative period, following a delay, Der Spiegel reports. The proposed law would require Deutsche Post to submit contracts with big customers to the federal network office to ensure there was no price dumping that could hurt competition.

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Indicated 0.5 percent higher

The company has urged unions to return to talks and is seeking a fair compromise on wages, board member for personnel Regine Stachelhaus told Welt am Sonntag newspaper.

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Indicated 0.2 percent higher

HeidelbergCement’s chief executive said investors hoping for big dividend hikes will have to wait while the cement maker focuses on further trimming its debt pile, a German newspaper reported.

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Indicated 0.4 percent higher

Siemens’ loss-making lighting unit and spin-off candidate Osram aims to post a 512 million euro ($681 million) pretax profit by 2015 thanks to tough cost cutting, a German magazine reported.

Separately, the Financial Times reported that Nokia Siemens Networks (NSN) - a joint venture of Siemens and Nokia is planning to raise as much as 700 million euros from public markets in the spring.

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Indicated 0.4 percent higher

VW’s Bentley unit aims to double vehicle sales to 15,000 by 2018, the unit’s head told Die Welt newspaper.

Separately, Matthias Mueller’s contract as head of Porsche has been extended until 2014, he told Automobilwoche.

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Indicated 0.3 percent higher in Frankfurt

Chief Executive Tom Enders told Der Spiegel magazine decisions on when and where to develop aircraft in the future would be made on economic grounds and he would not tolerate interference by the German government.

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Indicated 0.3 percent higher

The Frankfurt airport operator said more than 200 flights to and from Frankfurt had been cancelled on Sunday due to snow and ice on the ground. More than 200 flights were cancelled on Monday.

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Indicated 1.8 percent higher

The company affirmed its 2012/2013 outlook for earnings before interest, tax and amortisation of 120 million euros after posting a fiscal first-quarter profit gain of 8 percent.

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Indicated 0.7 percent lower

The company wants to cut employee salaries as part of its cost-saving effort, Focus and Der Spiegel magazines reported. Air Berlin declined to comment on the reports.

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Dow Jones +0.4 pct, S&P 500 +0.3 pct, Nasdaq -0.04 pct at Friday’s close.

Nikkei -1.5 pct at Monday’s close.


German residential property group LEG is hoping to raise up to 1.43 billion euros in its planned initial public offering, which could herald more IPOs in Europe’s largest economy.

Evonik has not given up the idea of an IPO, after calling off its planned listing last year, its chief executive told the Frankfurter Allgemeine Zeitung on Saturday, saying a flotation would be “a suitable way” for investor CVC to dispose of its 25 percent stake.

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DIC ASSET - Societe Generale cut its recommendation on the stock to “hold” from “buy”.


December producer prices -0.3 pct m/m, +1.5 pct y/y. Were seen flat m/m, +1.7 pct y/y.



REUTERS TOP NEWS (Reporting by Jonathan Gould and Maria Sheahan)

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