October 3, 2013 / 5:20 AM / in 4 years

German stocks - Factors to watch on Oct 3

FRANKFURT, Oct 3 (Reuters) - The DAX top-30 index looked set to open unchanged on Thursday, according to premarket data from brokerage Lang & Schwarz at 0656 GMT. The following are some of the factors that may move German stocks:


Indicated 3 percent higher

A large stake in Russian potash producer Uralkali OAO is likely to be sold to one of several local bidders, according to a report in the Wall Street Journal on Wednesday.

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Indicated 0.2 percent lower

The Pimco Total Return Fund, the world’s largest mutual fund run by Bill Gross, had outflows of $5.4 billion in September, marking the fifth straight month of outflows from the fund, Morningstar data showed on Wednesday.

Gross commented that the global economy may be facing low policy rates for decades.

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Indicated up 0.2 percent

Daimler’s luxury brand Mercedes-Benz sold the most cars in one month in its history in September, German paper Bild reported on Thursday.

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Indicated unchanged

Germany’s Porsche will probably focus production of the next generation of the four-door Panamera coupe at its plant in Leipzig, sources with direct knowledge of the matter said, in a move that could threaten jobs at parent Volkswagen VOWG_p.DE.

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RTL Group

Trading 1 percent lower in Frankfurt trading

German media conglomerate Bertelsmann said it was selling up to 2 million shares in RTL - equivalent to up to 1.3 percent of the broadcaster’s share capital - that were not taken up by investors during a stake sale in April.

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Indicated 0.4 percent higher

Hochtief’s Australian unit Leighton Holdings came under fire on Thursday from media reports saying corruption and bribery were widespread at the company under previous management, sending its shares down as much as 10 percent.

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German publisher Bastei Luebbe AG said it had placed 4 million shares at 7.50 euros each in its IPO. Trading is due to begin on Oct. 8.


KWS Saat AG : Barclays raises to “equal weight” from “underweight”


Dow Jones -0.39 pct, S&P 500 -0.07 pct, Nasdaq -0.08 pct at Wednesday’s close.

Nikkei -0.09 pct at Thursday’s close.


Markit services PMI for September due at 0753 GMT. Seen unchanged at at 54.4.

Markit final composite PMI for September due at 0753 GMT.



REUTERS TOP NEWS (Reporting by Victoria Bryan and Jonathan Gould)

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