January 4, 2012 / 6:00 AM / 9 years ago

German stocks - Factors to watch on January 4

FRANKFURT, Jan 4 (Reuters) - The DAX top-30 index looked set to open 0.6 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:

DEUTSCHE LUFTHANSA

Indicated 0.4 percent lower

Germany’s biggest airline is hiring temporary workers as flight attendants for the first time, German paper Rheinische Post reported in its online edition, citing no sources. Hamburg-based agency AviationPower is hiring about 200 people to staff 15 Lufthansa planes in Berlin, it said.

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MUNICH RE, HANNOVER RE

Munich Re indicated 0.4 percent lower

Hannover Re indicated 0.2 percent lower

Munich Re annual report on the human, economic and insurance costs of 2011 natural disasters due at 0900 GMT. World No. 2 player Swiss Re said on Dec. 15 natural catastrophes and man-made disasters caused $350 billion in economic losses — the highest ever — and cost insurers $108 billion in 2011.

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GERRESHEIMER

Indicated 0.4 percent lower

The specialty glass maker is close to making an acquisition that will help it reach its target of 2 billion euros ($2.6 billion) in annual revenue, its Chief Executive Uwe Roehrhoff told Handelsblatt newspaper. “I am optimistic that we will have something to announce soon,” he said.

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NORDEX

Indicated 3.0 percent lower

Vestas, the world’s biggest wind turbine maker, cut its guidance for 2011 earnings and revenue on Tuesday, saying costs of developing a new turbine had overshot expectations and some revenue had been delayed.

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OVERSEAS STOCK MARKETS

Dow Jones +1.5 pct, S&P 500 +1.6 pct, Nasdaq +1.7 pct at Tuesday’s close.

Nikkei +1.2 pct at Wednesday’s close.

ANALYSTS’ VIEWS

LUFTHANSA - Barclays cut its price target on the stock to 10.50 euros from 12 euros

EADS - Goldman Sachs raised its price target on the stock to 27 euros from 25 euros

IPO

German underwear maker Schiesser is preparing a prospectus for an initial public offering (IPO) and hopes to float in the European spring, Die Welt reported, citing a company spokeswoman. Schiesser in April pushed back its IPO plans to 2012.

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GERMAN ECONOMIC DATA

Markit Services PMI for December due at 0853 GMT. Seen at 52.7, unchanged from November.

DIARIES

REUTERS TOP NEWS ($1 = 0.7661 euros) (Reporting by Ludwig Burger)

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