January 16, 2013 / 6:26 AM / 5 years ago

German stocks - Factors to watch on January 16

FRANKFURT, Jan 16 (Reuters) - The DAX top-30 index looked set to open 0.2 percent lower on Wednesday, according to premarket data from brokerage Lang & Schwarz at 0730 GMT.

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

DAIMLER

Indicated unchanged

The European Commission will seek to prosecute nations that flout a new EU law requiring use of an environmentally friendly coolant in vehicle air-conditioning, which Daimler says is dangerous.

Separately, CEO Dieter Zetsche told daily Stuttgarter Nachrichten that Daimler was collaborating with other carmakers to set up a network of fuel cell filling stations.

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SIEMENS

Indicated 0.1 pct lower

A former compliance officer for Siemens in China sued the company, accusing it of firing him after he tried to expose a kickback scheme involving medical equipment sales to hospitals there.

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VOLKSWAGEN

Indicated 0.3 pct lower

A Brazilian court on Tuesday overturned a ruling made last week ordering Volkswagen to recall up to 400,000 one-litre cars over an unusual engine noise, a statement on the court’s website said.

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CAR INDUSTRY

Europe’s new car market shrank in December at its fastest monthly pace since October 2010, closing a year burdened by heavy declines in all major euro zone economies.

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MAN

Indicated 0.1 pct lower

The engineering firm rejected charges from a U.S. lobby group that it was violating European Union sanctions against Iran, Die Welt newspaper said in its online edition, citing MAN.

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METRO

Indicated 2.7 pct lower

The retailer announced the end to its consumer electronics plans in China as it reported a 0.5 percent rise in fourth quarter sales.

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DEUTSCHE WOHNEN

Indicated 2.8 pct lower

The German real estate investor plans to increase its capital by 10 percent in a dilutive share issue that will fund recently signed property deals and future acquisitions.

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OVERSEAS STOCK MARKETS

Dow Jones +0.2 pct, S&P 500 +0.1 pct, Nasdaq -0.2 pct at Tuesday’s close.

Nikkei -2.6 pct at Wednesday’s close.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Christiaan Hetzner and Ludwig Burger)

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