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German stocks - Factors to watch on June 23
June 23, 2014 / 5:06 AM / in 3 years

German stocks - Factors to watch on June 23

FRANKFURT, June 23 (Reuters) - The DAX top-30 index looked set to open 0.2 percent higher on Monday, according to premarket data from brokerage Lang & Schwarz at 0625 GMT.

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


Indicated 0.1 percent lower

France and the board of Alstom chose General Electric to form an alliance with the French engineering group, rejecting an offer from Siemens and Mitsubishi Heavy Industries.

Separately, France won an option to buy 20 percent of Alstom from construction group Bouygues on Sunday, in an eleventh-hour deal clearing the way for the agreed sale of Alstom’s energy business to General Electric.

In addition, the chief executive of Siemens said on Sunday the German engineering group was ready to resume negotiations with Alstom and the French state should they fail to agree on terms with GE.

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Indicated 0.2 percent higher

The company said on Monday it extended its partnership with Chinese joint venture partner Brilliance China Automotive Holdings Ltd by 10 years.

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Indicated 0.1 percent higher

The executive board of the German carmaker is due in the next fortnight to sign off on plans to build derivatives of its compact A Class model in Mexico, German monthly Manager Magazin reported on Sunday.

Separately, Germany’s transport ministry plans to renew its contract with lorry toll company Toll Collect, with Daimler and Deutsche Telekom as co-owners, by three years despite being locked in a legal battle with the firm for billions of euros in damages, magazine Der Spiegel reported.

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Indicated 0.3 percent lower

The European Commission gave Germany three months to abandon its plans to hike the fees mobile operators can charge each other for connecting calls, saying they lead to rates more than 80 percent higher than in other countries.

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Indicated 0.1 percent lower

The German regional state of Lower Saxony approved the restart of E.ON’s northern German Grohnde nuclear reactor after queries about safety at the unit had prolonged the annual summer maintenance.

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Indicated 0.6 percent higher

The copper smelter would have difficulties if the euro were to remain at its currently high levels over a longer period of time, the company’s Chief Executive Peter Willbrandt told weekly Euro am Sonntag. In the short to medium term, hedging instruments provide relief, he added.

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Indicated unchanged

James Murdoch, chairman of Sky Deutschland’s supervisory board, told German newspaper Handelsblatt: “If we remain on track there’s no reason why we should not have 10 million or more customers in Germany one day.”

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Indicated 0.1 percent lower

The construction and machinery company’s finance chief Hartmut Beutler told daily Boersen-Zeitung that resuming dividend payments would depend on any progress in reducing the group’s debt burden.

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Indicated 0.8 percent higher

The car parts supplier aims to increase sales by 30-50 percent over the next five years, Chief Executive Hartmut Mueller told weekly Welt am Sonntag.

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

Nikkei +0.1 pct at Monday’s close.


German June Markit Composite Flash PMI due at 0730 GMT. Manufacturing Flash PMI seen at 52.5, up from 52.3. Services PMI at 55.7, down from 56.0.



REUTERS TOP NEWS (Reporting by Ludwig Burger and Christoph Steitz)

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