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German stocks - Factors to watch on March 13
March 13, 2014 / 5:56 AM / in 4 years

German stocks - Factors to watch on March 13

FRANKFURT, March 13 (Reuters) - The DAX top-30 index looked set to open 0.3 percent higher on Thursday, according to premarket data from brokerage Lang & Schwarz at 0721 GMT.

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


Indicated 0.3 percent higher

The German car and truck maker will cut costs at its trucks division by around 700 million euros ($973 million) this year, and at its Mercedes-Benz Cars division by 600-800 million, as part of an already announced cost savings programme, Chief Financial Officer Bodo Uebber told German publication Boerse Online.

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Indicated 0.2 percent higher

FMC said that Emanuele Gatti would quit his role as management board member to become an advisor to Chief Executive Rice Powell. In addition, management Board member Rainer Runte will step down on April 1, also to take an advisory role at FMC.

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Indicated 0.6 percent lower

The potash miner said it was bracing for a third year of operating earnings decline, suffering from lower prices of the fertiliser ingredient.

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Indicated 2.4 percent higher

Germany’s largest airline said it was confident of reaching the goals set out under a wide-ranging restructuring programme as it reported better than expected quarterly profit and restored its dividend payout.

Separately, German radio station rbb said Lufthansa was owed more than $100 million from Venezuela, where currency controls have made it difficult to obtain dollars.

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Indicated 0.3 percent higher

2013 results for Volkswagen’s 12 brands due. The company already published key group earnings data on Feb. 21 when it outlined plans to buy a Scania stake for 6.7 billion euros.

Separately, the United Auto Workers on Wednesday sharply criticized and vowed to appeal a U.S. agency’s decision to let anti-UAW Volkswagen workers defend the results of an election that the union lost last month at a Tennessee VW plant.

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Indicated 0.2 percent higher

The builder has installed its chief executive at the helm of majority-owned Leighton Holdings Ltd and claimed more seats in the boardroom, cementing its grip on the Australian company that supplies much of its profit.

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No indication available

The fashion house on Thursday said it expected 2014 sales and earnings to rise by a high single-digit percentage at constant currencies.

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Indicated 0.2 percent higher

The hospitals chain stuck with its 2015 outlook for an EBITDA of 145-155 million euros as it published full-year financial results but said it would provide no guidance for this year due to unfinished structural changes.

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Indicated 3.1 percent higher

The supplier of parts for trucks said it expected its sales to grow by about 10 percent to 920-945 million euros this year, with adjusted earnings before interest and tax (EBIT) of about 70 million after 59.3 million in 2013.

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Indicated 0.3 percent lower

Full Q4 results due. The traffic technology company already said in January that its sales rose 8 percent to 391 million euros in 2013, which missed its own goal of 395 million

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COMMERZBANK - Societe Generale raises the stock to “buy” from “sell”, lifts its target price to 16 euros from 7.7 euros.

AURUBIS - Societe Generale raises the stock to “buy” from “hold”.


Dow Jones -0.07 pct, S&P 500 +0.03 pct, Nasdaq +0.37 pct at Wednesday’s close.

Nikkei -0.1 pct at Thursday’s close.



REUTERS TOP NEWS ($1 = 0.7192 euros) (Reporting by Edward Taylor and Maria Sheahan)

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