July 30, 2014 / 5:00 AM / 3 years ago

German stocks - Factors to watch on July 30

FRANKFURT, July 30 (Reuters) - The DAX top-30 index looked set to open 0.1 percent lower on Wednesday, according to premarket data from brokerage Lang & Schwarz at 0603 GMT.

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


Indicated down 2 percent

Germany’s largest drugmaker posted a 1 percent gain in quarterly adjusted core earnings, as strong sales growth of newly introduced pharmaceuticals was tempered by a strong euro weighing on the value of overseas sales.

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Indicated up 0.1 percent

Daimler’s works’ council on Tuesday said it had agreed a deal to overhaul a network of company-owned Mercedes sales outlets in Germany, after management provided dealership employees with job guarantees until 2023.

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Indicated up 0.2 percent

New York’s banking regulator is seeking to place government monitors in the U.S. offices of Deutsche Bank AG and Barclays Plc as part of its investigation into the foreign-exchange market, a person familiar with the matter said.

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Indicated down 0.2 percent

The long-anticipated merger of Sprint Corp and Deutsche Telekom unit T-Mobile US Inc is not expected to occur before September, with the companies continuing due diligence and preparing a detailed case for a deal before U.S. regulators, according to people familiar with the matter.

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Indicated down 0.3 percent

The German cement maker posted flat second-quarter operating profit, missing a consensus for a 9 percent rise, as the unfavourable impact of a strong euro weighed on results.

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E.ON indicated down 0.9 percent

RWE indicated down 0.2 percent

The German utilities are planning to shut down 49 power plants in Germany, 21 more than previously, tabloid Bild reported, citing new data from regulator Bundesnetzagentur.

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Indicated up 1.3 percent

The chipmaker on Wednesday raised its full year outlook on strong demand for its products from carmakers and industrial customers.

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Indicated up 0.3 percent

Volkswagen is closing in on Toyota Motor Corp as the global leader in vehicle sales, with a rapid expansion drive in China - the world’s biggest auto market - while Toyota curbs growth to focus on shoring up quality, sales figures from Toyota showed.

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No indication available

Airbus Group on Wednesday reported first-half underlying operating profit rose 10 percent and reaffirmed its forecasts for the year, telling investors not to worry about the health of the commercial jetliner market.

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Indicated unchanged

Germany’s MAN SE returned to profit in the second quarter as strong demand for diesel engines and turbines offset weakening truck sales.

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No indication available

The lighting maker announced late on Tuesday plans for a new savings programme that will include almost 8,000 job cuts, or around 23 percent of its staff, as it reported better than expected third quarter profit.

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Indicated up 1.4 percent

The kitchen maker saw earnings before interest and taxes rise 10 percent to 55.8 million euros in the first six months.

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Indicated up 2.5 percent

The company said it expected its revenue to come to between $240 million and $265 million in the third quarter after posting a 45 percent jump in second-quarter sales to $219 million.

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Indicated up 2.6 percent

The biotech company said it received its first milestone payment in its TargetAD collaboration with Janssen Pharmaceuticals.

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Indicated up 3.9 percent

The computer manufacturer posted second-quarter underlying operating profit of 3.7 million euros, just above consensus for 2.5 million, and said it was on track in terms of its financial performance and affirmed its 2014 outlook.

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No indication available

Telefonica Deutschland on Wednesday reported a 14.5 percent drop in core earnings due to lower revenues from its wireless services and heavy investments to gain market share.

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Indicated up 0.3 percent

The genetic testing specialist reported a 9 percent rise in second-quarter earnings, slightly above analysts’ average forecast, helped by demand for its automated diagnostics gear and for test kits co-developed with drugmakers.

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Indicated down 2.5 percent

The Austrian oil drilling company’s growth could be slowed if sanctions against Russia caused deliveries of drilling equipment to be delayed or stopped, Chief Executive Manfred Kastner told Boersen-Zeitung.

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DEUTSCHE BANK - Berenberg raises the stock to “hold” from “sell”. Also, S&P Capital IQ raises it to “buy” from “hold” and cuts its target price to 32 euros from 35 euros.


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

Nikkei +0.2 pct at Tuesday’s close.


Preliminary data for German inflation in July due at 1200 GMT. CPI seen +0.2 pct m/m, +0.8 pct y/y. HICP seen +0.3 pct m/m, +0.8 pct y/y.



REUTERS TOP NEWS ($1 = 0.7443 Euros) (Reporting by Victoria Bryan and Maria Sheahan)

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