July 10, 2014 / 5:21 AM / in 4 years

German stocks - Factors to watch on July 10

FRANKFURT, July 10 (Reuters) - The DAX top-30 index looked set to open 0.1 percent higher on Thursday, according to premarket data from brokerage Lang & Schwarz at 0616 GMT.

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


Deutsche Bank indicated 0.3 percent higher

Commerzbank indicated 0.4 percent lower

The European Central Bank aims to keep banks on a tight leash in the final phase of a balance sheet health check in October, giving them just 48 hours to review the test results before publishing them, two persons familiar with the matter told Reuters on Wednesday.

Also, Commerzbank is expected to pay between $600 million and $800 million to resolve investigations into its dealings with Iran and other countries under U.S. sanctions, sources familiar with the matter said.

Separately, a Frankfurt court heard on Wednesday that Commerzbank’s foreign exchange traders routinely performed trades of a type forbidden by the bank before two of them were fired for acting against clients’ best interests.

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Indicated 0.1 percent higher

The German carmaker has approached the owners of MV Agusta to buy a minority stake in the Italian motorcycle maker, Boersen-Zeitung reported, citing financial sources in Milan.

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Indicated 0.7 percent higher

Turkish Airlines on Thursday said it did not have any long-haul projects with Lufthansa after media cited the German carrier as saying the airlines were in advanced talks.

Separately, Chief Executive Carsten Spohr is due to hold an investor presentation in London, a day after unveiling his new strategy for the airline.

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Indicated 0.4 percent higher

Volkswagen-owned Bugatti has developed the blueprint for a 2015 follow-up model to the $1.7 million limited-series Veyron that may sell out this year, two sources at VW group with knowledge of the matter said.

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No indication available in Frankfurt

Airbus is sprinting to line up preliminary orders for a revamped version of its A330 jet and is on stand-by to make an announcement as early as next week’s Farnborough Airshow, but no decision has been taken, people familiar with the matter said.

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Indicated 0.2 percent higher

Frankfurt airport passenger numbers were up 3.3 percent in June, while cargo volumes fell 3.5 percent, Fraport said.

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Indicated 1.6 percent higher

The company affirms its 2014 outlook for adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) to rise to 250-265 million euros ($341-361 million) from 249.8 million last year after an in-line rise in second-quarter profits.

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Indicated 2.0 percent higher

Europe’s largest sugar producer posted operating profit in the first quarter of 96 million euros, down from 220 million in the previous year because of a fall in earnings from its core sugar sector.

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Indicated unchanged

Bernhard Ehmer will become the group’s new chief executive effective Jan. 1, 2015, replacing Gregor Schulz, whose appointment will end after 12 years, the company said on Wednesday.

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Down 42 percent in early Frankfurt trade

The German supplier of chemicals for detergents and body care products, said on Wednesday it had filed for insolvency under its own management, after having reviewed future restructuring options.

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HORNBACH HOLDING - 0.80 eur/shr dividend proposed


HORNBACH-BAUMARKT-AG - dividend 0.60 eur/shr


ALLIANZ - Societe Generale raises its recommendation on the stock to “hold” from “sell”.

QIAGEN - Wells Fargo starts the stock with a “market perform” rating.

WACKER NEUSON - Berenberg lifts the stock to “hold” from “sell”, with a price target of 19 euros.

STABILUS - Societe Generale starts the stock with a “hold” rating and a price target of 28 euros.


Dow Jones +0.5 pct, S&P 500 +0.5 pct, Nasdaq +0.6 pct at Wednesday’s close.

Nikkei -0.6 pct at Thursday’s close.



REUTERS TOP NEWS ($1 = 0.7331 Euros) (Reporting by Christoph Steitz and Maria Sheahan)

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