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German stocks - Factors to watch on February 24
February 24, 2014 / 6:16 AM / 4 years ago

German stocks - Factors to watch on February 24

FRANKFURT, Feb 24 (Reuters) - The DAX top-30 index looked set to open 0.3 percent lower 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 2.2 percent lower

The carmaker plans to buy out minority shareholders of Swedish trucks division Scania for 6.7 billion euros ($9.21 billion), which will be partly financed by issuing new preference shares and hybrid capital.

Separately, the United Auto Workers filed an appeal with the U.S. government on Friday, asking it to set aside the results of an election last week where workers at a Tennessee Volkswagen plant voted not to join the union.

Also, Germany’s Federal Motor Transport Authority (KBA) is examining two incidents in which Porsche 911 GT3 cars caught fire, daily newspaper Bild reported, citing a KBA spokesman.

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Indicated unchanged

Bayer’s takeover offer for Algeta ASA is due to end on Monday.

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Indicated unchanged

Deutsche Bank has laid out plans to reduce its U.S. balance sheet as the U.S. Federal Reserve adopts new rules to shield the country’s taxpayers from costly bailouts, the Financial Times reported on Sunday.

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E.ON indicated 0.6 percent lower

RWE indicated 0.6 percent lower

Germany’s utilities should pool their struggling hard coal plants into a joint entity, the head of a labour union said, in a bid to save jobs and reduce costs as a rise in renewables has driven many conventional power plants into loss.

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Indicated 0.1 percent higher

The consumer goods group said the Henkel family has extended its share-pooling agreement which covers around 59 percent of the voting rights in the company.

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No indication available in Frankfurt

Airbus will demand the German defence ministry pay a three-digit-million euro sum for cancelling its planned purchase of Eurofighter jets, Der Spiegel magazine said on Sunday, citing unnamed sources.

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Indicated 1.6 percent higher

The engineering group said on Monday it expected its order intake to reach about 550 million euros in the first quarter, adding its full-year 2013 orders exceeded 2 billion euros.

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Indicated 0.3 percent lower

The planned flotation of a stake in the German retailer’s Russian wholesale business could come around Easter, its chief executive told a German newspaper.

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No indication available

Osram has not held any talks with Siemens over whether and when the engineering group may cut its stake in the lighting maker from currently close to 20 percent, Sueddeutsche Zeitung quoted Osram Chairman Peter Bauer as saying in an interview published on Monday.

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Indicated 1.6 percent lower

The hospitals operator missed its own 2013 pretax profit target by 24 percent, Der Spiegel magazine reported, citing internal documents. Rhoen-Klinikum was not immediately available for comment.

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Indicated 0.5 percent higher

The photofinishing company will increase its dividend for the 2013 business year if the macroeconomic conditions are favourable, Chief Financial Officer Olaf Holzkaemper told Euro am Sonntag newspaper on Saturday.

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No indication available

2013 results due.

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VOLKSWAGEN - Barclays cuts the stock to “equal weight” from “overweight”, lowers its target price to 202 euros from 225 euros.

QSC - JP Morgan raises the stock to “overweight” from “neutral”.


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

Nikkei -0.2 pct at Monday’s close.


German Ifo index for February due at 0900 GMT. Business climate index seen unchanged at 110.6, current conditions at 112.8 vs 112.4 and expectations at 108.2 vs 108.9.



REUTERS TOP NEWS ($1 = 0.7275 euros) (Reporting by Maria Sheahan and Marilyn Gerlach)

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