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German stocks - Factors to watch on July 16
July 16, 2014 / 5:20 AM / 3 years ago

German stocks - Factors to watch on July 16

FRANKFURT, July 16 (Reuters) - The DAX top-30 index looked set to open 0.2 percent higher on Wednesday, according to pre-market data from brokerage Lang & Schwarz at 0612 GMT.

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

DEUTSCHE BANK

Indicated 0.3 percent higher

A Tokyo judge on Wednesday handed a former Deutsche Bank salesman a suspended prison sentence for bribing a pension fund official with dinners and golf outings, and said more senior officials at the bank had “tacitly condoned” the practice.

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DEUTSCHE TELEKOM

Indicated 0.1 percent higher

Sprint Corp and Deutsche Telekom unit T-Mobile US are working on a plan to raise about $10 billion in an auction of wireless airwaves, the online version of The Wall Street Journal reported, citing people familiar with the matter.

Separately, billionaire John Paulson, whose hedge fund is the No.4 shareholder in T-Mobile US, is backing a potential merger of T-Mobile US and Sprint, the online version of The Wall Street Journal reported, citing an interview.

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E.ON

Indicated unchanged

Grupo Villa Mir, EDP and five investment funds are among interested buyers for the Spanish assets of E.ON, Spanish paper Expansion reported, citing market sources.

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METRO

Indicated 0.8 percent higher

Olaf Koch, chief executive of German retailer Metro AG, has received an important endorsement from the personnel committee of the group’s supervisory board, which has recommended extending his contract, according to Handelsblatt. Koch’s contract ends in September 2015. Metro declined to comment.

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RHOEN-KLINIKUM

Indicated unchanged

The German hospitals operator said a law suit has been filed against a shareholder vote at its recent annual general meeting to use the proceeds from a sale of hospitals to buy back shares.

Related news

EX-DIVIDEND

CELESIO - dividend 0.30 eur/shr

ANALYSTS’ VIEWS

K+S - Nomura cuts to “reduce” from “neutral”

SYMRISE - Nomura cuts to “reduce” from “neutral”

OVERSEAS STOCK MARKETS

Dow Jones +0.03 pct, S&P 500 -0.2 pct, Nasdaq -0.5 pct at Tuesday’s close.

Nikkei -0.1 pct at Wednesday’s close.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Thomas Atkins and Christoph Steitz)

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