October 2, 2013 / 5:04 AM / 4 years ago

German stocks - Factors to watch on October 2

FRANKFURT, Oct 2 (Reuters) - The DAX top-30 index looked set to open 0.2 percent lower on Wednesday, according to premarket data from brokerage Lang & Schwarz at 0624 GMT.

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


Indicated 0.1 percent lower

The German insurer’s Pimco Total Return Fund, the world’s largest mutual fund, rose 1.8 percent in September after the U.S. Federal Reserve kept its bond-buying program unchanged, according to preliminary data from investment research firm Morningstar. This marked the best monthly performance for the bond fund since January 2012.

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Indicated 0.2 percent lower

The car maker said it sold 8.3 percent more vehicles in September than in the same month last year.

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Indicated 0.3 percent lower

The car maker sold 6.7 percent more Mercedes-Benz cars in the USA in september.

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Indicated 0.5 percent lower

Three miners were killed on Tuesday after breathing leaked carbon dioxide following a controlled explosion at a potash mine operated by K+S in the German state of Thueringia.

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Indicated 0.1 percent lower

Standard & Poor’s raised its long-term corporate credit rating on the German automotive supplier to ‘BB+’ from ‘BB’. The outlook is stable.

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No indication available

Italian energy company Eni wants to hive off its 50 percent stake in the German natural gas transmission networks it co-owns with utility EnBW, newspaper Stuttgarter Zeitung reported.

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General Motors unit Opel said on Tuesday it would build subcompact multi-purpose-vehicles (MPVs) together with French ally PSA Peugeot Citroen at Opel’s Spanish plant in Zaragoza, confirming recent media reports.

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Dow Jones +0.4 pct, S&P 500 +0.8 pct, Nasdaq +1.2 pct at Tuesday’s close.

Nikkei -2.2 pct at 0458 GMT.



REUTERS TOP NEWS (Reporting by Harro ten Wolde and Ludwig Burger; Editing by Marilyn Gerlach)

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