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German stocks - Factors to watch on June 7
June 7, 2013 / 5:16 AM / 5 years ago

German stocks - Factors to watch on June 7

FRANKFURT, June 7 (Reuters) - The DAX top-30 index looked set to open 0.4 percent higher on Friday, according to premarket data from brokerage Lang & Schwarz at 0618 GMT.

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

VOLKSWAGEN

Indicated 0.2 percent higher

The automobile maker has written to Australian car owners offering free inspections of VW vehicles in response to growing worries about potential gearbox problems that have already triggered recalls in China and Japan.

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DAIMLER

Indicated 0.4 percent higher

The German carmaker is considering starting production of one of its new Mercedes-Benz cars in Mexico, including the A-Class model, most likely in ally Nissan’s local plant.

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RWE

Indicated 0.9 percent higher

The company will receive a compensation payment in the high hundreds of millions of euros from Gazprom as part of a dispute over gas price contracts, Handelsblatt reported, citing no sources.

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MAN SE

Indicated 0.8 percent lower

Shareholders approved with a near 99 percent majority a domination agreement that would transfer all profits and losses to majority owner Volkswagen. MAN investors can now either tender their shares for 80.89 euros each or accept annual compensation of 3.07 euros per share in place of a dividend.

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EADS

Indicated unchanged in Frankfurt

Europe’s Airbus could increase narrowbody aircraft production once a revamped version of its A320 medium-haul jet enters service in late 2015, a senior executive said.

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VOSSLOH

Indicated 0.4 percent higher

The rail infrastructure and technology company is reviewing options for its locomotives business, including a possible sale, two sources familiar with the matter told Reuters on Thursday.

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QIAGEN

Indicated 1.7 percent lower

Qiagen said it lost part of its order volume for supplying HPV testing to a rival. Qiagen said it did not mean it will revise its guidance for 2013 and expects that sales related to this development to represent less than 2 percent of its anticipated total net sales for 2014.

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ALSTRIA OFFICE REIT

Indicated 4.5 percent lower

The real estate group said it would place bonds with a total volume of about 80 million euros ($106 million) that were convertible into as many as 7.89 million ordinary shares.

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ENBW

Indication not available

ENBW’s supervisory board said it endorsed a plan to overhaul the company’s structure, adding it would make details of the revamp public on June 17.

Related news

BROKER ACTION:

DEUTSCHE TELEKOM - Jefferies raises to “buy” from “hold”

ALSTRIA OFFICE REIT - JP Morgan cuts to “underweight” from “neutral”

GAGFAH - JP Morgan raises to “neutral” from “underweight”

PATRIZIA IMMOBILIEN - JP Morgan cuts to “underweight” from “neutral”

EX-DIVIDEND

MAN SE - 1.00 eur/shr.

MLP - 0.32 eur/shr.

SCHALTBAU - 0.77 eur/shr.

OVERSEAS STOCK MARKETS

Dow Jones +0.5 pct, S&P 500 +0.9 pct, Nasdaq +0.7 pct at Thursday’s close.

Nikkei -0.2 at Friday’s close.

GERMAN ECONOMIC DATA

April trade balance: Surplus 17.7 billion euros, compared with Reuters consensus forecast of 17.2 billion. Exports +1.9 pct, compared with Reuters consensus forecast of +0.2 pct. Imports +2.3 pct vs +0.5 pct forecast.

April industrial output due at 1000 GMT. Seen unchanged from a 1.2 percent rise in the previous month.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS ($1 = 0.7579 euros) (Reporting by Edward Taylor, Christoph Steitz and Christiaan Hetzner)

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