October 10, 2013 / 5:24 AM / 4 years ago

German stocks - Factors to watch on October 10

FRANKFURT, Oct 10 (Reuters) - The DAX top-30 index looked set to open 0.6 percent higher on Thursday, according to premarket data from brokerage Lang & Schwarz at 0615 GMT.

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


Indicated 0.2 percent higher

Deutsche Telekom’s outgoing chief executive Rene Obermann will join the supervisory board of steelmaker ThyssenKrupp next year, replacing Swiss economist Beatrice Weder di Mauro, a source close to the board said on Wednesday.

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Indicated 1.3 percent higher

The company’s division making components for efficient power management and high-frequency applications expects further growth. “We are aiming for annual sales growth in the high single digit or low double digit (percentage),” Andreas Urschitz, head of the Power Management and Multimarket business, tells Handelsblatt.

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Indicated 0.3 percent higher

Swiss media group Ringier has made an offer for the Swiss part of Deutsche Telekom’s classified advertising unit Scout24, Handelsblatt cited media sources as saying. Ringier already holds a 50 percent stake in the Swiss company.

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Indicated 0.6 percent higher

September traffic figures due at 1100 GMT.

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Indicated 1.3 percent lower

Kabel Deutschland on Wednesday trimmed its revenue forecast for the current fiscal year and said the pending takeover of the company by Britain’s Vodafone would hit full-year net income.

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Indicated 1.5 percent higher

The real estate company said it has now largely completed its refinancing and has done so on more attractive terms.

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Indicated 1 percent lower

Moody’s downgraded Rheinmetall to Ba1, rating outlook stable.

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Indicated 0.3 percent lower

The sugar refiner confirmed it had become more difficult to reach its full-year profit target.

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KABEL DEUTSCHLAND - 2.50 eur/shr dividend proposed.


PROSIEBEN.SAT1 - HSBC raises to “Overweight” from “Neutral”.

RTL GROUP - HSBC starts with “Overweight”, price target of 86 euros.

AIXTRON - HSBC cuts to “Underweight” from “neutral”.


Dow Jones +0.2 pct, S&P 500 +0.1 pct, Nasdaq -0.5 pct at Wednesday’s close.

Nikkei +1.1 pct at Thursday’s close.


REUTERS TOP NEWS (Reporting by Jonathan Gould and Harro Ten Wolde)

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