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German stocks - Factors to watch on May 23
May 23, 2014 / 5:21 AM / 4 years ago

German stocks - Factors to watch on May 23

FRANKFURT, May 23 (Reuters) - The DAX top-30 index looked set to open flat on Friday, according to premarket data from brokerage Lang & Schwarz at 0625 GMT.

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

BASF

Indicated flat

The world’s top chemicals firm by sales, said it would not allow the Ukraine crisis to jeopardise its business in Russia or its partnership with state-controlled gas producer Gazprom, describing the standoff as isolated.

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BMW, DAIMLER, VW

BMW indicated 0.3 pct higher

Daimler indicated 0.1 pct higher

VW indicated 0.1 pct higher

New-car sales in the United States are expected to rise more than 7 percent in May and continue the strong spring selling season as the month includes five weekends, two industry research firms said on Thursday.

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DEUTSCHE BANK

Indicated 1.4 pct lower

Germany’s largest bank said it will not finance a controversial coal port expansion in Australia near the Great Barrier Reef, responding to calls from green groups and tourism operators.

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E.ON, RWE, ENBW

E.ON indicated flat

RWE indicated 0.1 pct lower

EnBW no indication available

German utilities have worked out a new plan for a fund to shut down nuclear power plants, Handelsblatt reported citing company sources. Negotiations between utilities and politicians will be moderated by RAG mining group chief Werner Mueller.

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SIEMENS

Indicated 0.1 pct higher

General Electric Co has agreed to extend its $16.9 billion bid for the power arm of France’s Alstom until June 23 from June 2 at the request of the French government, the U.S. company said on Thursday.

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ANNUAL GENERAL MEETINGS

KLOECKNER & CO - no dividend proposed

MORPHOSYS - no dividend proposed

XING - 0.62 eur/share dividend proposed, 3.58 eur/share special dividend proposed

EX-DIVIDEND

DEUTSCHE BANK - 0.75 eur/shr

LANXESS - 0.50 eur/shr

SALZGITTER - 0.20 eur/shr

AMADEUS FIRE - 2.83 eur/shr

PFEIFFER VACUUM - 2.65 eur/shr

UNITED INTERNET - 0.40 eur/shr

ANALYSTS’ VIEWS

DEUTSCHE ANNINGTON - Barclays starts with ‘overweight’ rating, target price 25.80 eur.

IPO

Shares of German automotive and industrial supplier Stabilus will be sold at 21.50 euros apiece, in the middle of a previously given price range of 19-25 euros in its market debut on May 23, the company said late-Thursday.

OVERSEAS STOCK MARKETS

Dow Jones up 0.1 pct, S&P 500 up 0.2 pct, Nasdaq up 0.6 pct at Thursday’s close.

Nikkei up 0.9 pct at Friday’s close.

GERMAN ECONOMIC DATA

German gross domestic product (GDP) grew by 0.8 percent in the first quarter compared with the previous three months, the Federal Statistics Office confirmed in a detailed breakdown of data released on Friday.

May Ifo business climate due at 0800 GMT. Seen down at 110.9 from 111.2. Current conditions seen up at 115.5 from 115.3 in April.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Harro ten Wolde and Victoria Bryan)

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