December 30, 2013 / 6:16 AM / 4 years ago

German stocks - Factors to watch on December 30

BERLIN/FRANKFURT, Dec 30 (Reuters) - The DAX top-30 index looked set to open unchanged on Monday, according to premarket data from brokerage Lang & Schwarz at 0718 GMT.

The following are some of the factors that may move German stocks. Trading in Frankfurt will end early at 1300 GMT ahead of the New Year’s holidays.


Indicated 0.3 percent lower

The luxury-car maker expects sales of the new i3 electric hatchback to keep growing as demand for the model continues to exceed targets six weeks after the i3 hit dealerships, Die Welt reported on Saturday, citing CFO Friedrich Eichiner.

Separately, BMW’s development chief Herbert Diess told a German newspaper that the German carmaker and Japan’s Toyota have agreed to develop a joint platform for sportscars.

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Indicated unchanged

The lender aims to expand dealings with small businesses and freelancers through 2016, Die Welt reported on Saturday, citing Commerzbank’s retail banking chief Martin Zielke.

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Indicated 0.1 percent lower

The consumer goods group dampened expectations it was looking at acquisitions soon, saying the market currently offers few takeover opportunities, Handelsblatt reported on Sunday, citing CEO Kasper Rorsted.

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Indicated 0.3 percent lower

CEO Joe Kaeser said he aims to boost the engineering group’s capital efficiency “distinctly” over the next two years, Frankfurter Allgemeine Sonntagszeitung reported, citing an interview.

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Volkswagen indicated 0.2 percent lower

MAN indicated 0.1 percent lower

Rheinmetall indicated 0.1 percent lower

The CEO of Europe’s largest carmaker, Martin Winterkorn, is enraged by a dispute between VW’s truck-making divisions MAN SE and Scania that could cost MAN’s joint venture with defense company Rheinmetall a 2.2 billion-euro ($3.03 billion) military contract, Der Spiegel reported on Sunday. VW and MAN declined to comment.

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Indicated 0.3 percent lower in Frankfurt

Chinese carrier Zhejiang Loong Airlines said on Sunday it had firmed up its order for 20 Airbus A320 aircraft.

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Indicated 0.1 percent lower

The reinsurer is braced for falling premiums next year which could dampen business prospects, Welt am Sonntag reported, citing CEO Ulrich Wallin.

Separately, Wallin said Hannover Re will pay dividends of at least 2.60 euros per share for 2013 and 2014.

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Indicated 0.2 percent lower

The travel and tourism group expects higher profit in its German home market in the current financial year ending in September after making strong gains in pre-Christmas holiday bookings, Frankfurter Allgemeine Zeitung reported on Sunday, citing TUI AG’s Germany chief.

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Dow Jones -0.01 pct, S&P 500 -0.03 pct, Nasdaq -0.25 pct at Friday’s close.

Nikkei +0.7 pct at Monday’s close.



REUTERS TOP NEWS ($1 = 0.7258 euros) (Reporting by Maria Sheahan, Andreas Cremer and Edward Taylor.)

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