March 17, 2014 / 6:30 AM / in 4 years

German stocks - Factors to watch on March 17

FRANKFURT, March 17 (Reuters) - The DAX top-30 index looked set to open 0.1 percent higher on Monday, according to premarket data from brokerage Lang & Schwarz at 0706 GMT.

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


Crimeans voted overwhelmingly to break away from Ukraine and join Russia in a referendum on Sunday that has alarmed the former Soviet republic and triggered the worst crisis in East-West relations since the Cold War.

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Indicated 1 percent higher

The debt-burdened utility has struck a deal to sell its oil and gas production unit RWE Dea to LetterOne Group - the investment vehicle set up by Russia’s Alfa Group conglomerate - at an enterprise value of 5.1 billion euros ($7.1 billion).

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Indicated 0.1 percent higher

Allianz agreed to pay up to 440 million euros to buy property and casualty insurance business and sales capacity from Italian insurer Unipol. The business has premiums worth about 1.1 billion euros ($1.53 billion).

Separately, Douglas Hodge, CEO of Allianz bond fund unit Pimco, said the resignation of his predecessor Mohamed El-Erian caught everybody by surprise but an internal succession plan enabled Pimco to distribute his tasks swiftly, according to his interview with Euro am Sonntag

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Indicated 0.4 percent higher

The carmaker said on Friday it would recall an unspecified number of vehicles proactively in China after months of consumer complaints over a potentially defective engine control component.

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Indicated 0.3 percent higher

Nissan and Daimler have agreed on plans for a 50-50 Mexican joint venture designed to produce future vehicle models for their Infiniti and Mercedes-Benz brands, a person with knowledge of the matter said on Friday.

Separately, Daimler finance director Bodo Uebber told Euro am Sonntag on Saturday that the carmaker had plans to issue more so-called ‘panda bonds’ in China.

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Indicated 0.6 percent higher

The U.S. Federal Deposit Insurance Corp sued 16 of the world’s largest banks on Friday, accusing them of cheating dozens of other now defunct banks by manipulating the Libor interest rate. Deutsche Bank is one of the accused.

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Indicated 0.3 percent lower

E.ON is not experiencing any restrictions to its business in Russia despite the escalation of tensions at Ukraine’s Crimea, CEO Johannes Teyssen told German weekly magazine Der Spiegel.

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Indicated 0.3 percent higher

The industrial gases maker said its 2016 operating profit would come in about 400 million euros ($557.00 million) lower than planned if exchange rates remained as unfavourable as they were at the end of last year.

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Indicated 0.3 percent lower

Venezuela has warned airlines not to limit flights in and out of the country amid industry complaints of unpaid debts. Lufthansa has said its 2013 financial results took a double-digit million euro hit from payment issues in Venezuela.

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Indicated 0.1 percent lower

The liquid crystal maker extended the offer period for its planned takeover of Britain’s AZ Electronic Materials for a fifth time on Friday, citing ongoing talks with Chinese antitrust regulators.

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VW indicated 0.2 percent higher

A court in Stuttgart is expected to announce its ruling in a damages suit brought against Porsche by hedge funds, who are suing over the carmaker’s failed attempt to take over Volkswagen in 2008-2009.

The carmaker will decide to produce the Tiguan SUV at its production site in Hanover, FAZ reported on Monday, citing company sources. A decision could be made before Tuesday morning.

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Indicated 1.3 percent lower

Rheinmetall expects its cost-cutting programme to start bearing fruit at its automotive and defence businesses this year, Chief Financial Officer Helmut Merch said in an interview with Boersen-Zeitung on Saturday.

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No indication available

The broadcaster said it bought online and mobile games publisher Aeria Games Europe and planned to combine its games operations under the name SevenGames in Berlin.

Separately, annual report due. The company already reported preliminary results on Feb. 27, posting fourth-quarter recurring EBITDA of 302.1 million euros, slightly ahead of consensus.

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No indication available

Tension between Russia and Ukraine is creating economic uncertainty, which is bad for the forklift truck maker’s business, its Chief Executive Gordon Riske told Sueddeutsche Zetung in an interview published on Monday.

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No indication available

SHW is proposing a stable dividend of 1 euro per share.

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SAP -Citigroup raises to “buy” from “neutral,” target price raised to 62 euros from 57 euros

HEIDELBERGCEMENT - Cantor cuts its recommendation on the stock to “hold” from “buy”.

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

THYSSENKRUPP - JP Morgan reinstates the stock with an “overweight” rating, price target 24 euros.


Dow Jones -0.3 pct, S&P 500 -0.3 pct, Nasdaq -0.4 pct at Friday’s close.

Nikkei -0.4 pct at Monday’s close.



REUTERS TOP NEWS ($1 = 0.7180 Euros) (Reporting by Maria Sheahan, Marilyn Gerlach and Jonathan Gould)

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