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German stocks - Factors to watch on March 19
March 19, 2013 / 6:21 AM / 5 years ago

German stocks - Factors to watch on March 19

FRANKFURT, March 18 (Reuters) - The DAX top-30 index looked set to open 0.1 percent lower on Tuesday, according to premarket data from brokerage Lang & Schwarz at 0717 GMT.

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

CYPRUS

Euro zone ministers urged Cyprus to let smaller savers escape a levy on bank deposits, before a parliamentary vote on Tuesday that will either secure the island’s financial rescue or threaten default.

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THYSSENKRUPP

Indicated 2.6 percent lower

German daily Handelsblatt cited company sources as saying the steelmaker was preparing a capital increase, which will dilute the holdings of its main shareholder, the Krupp Foundation. ThyssenKrupp declined to comment.

Separately, the group’s supervisory board is due to meet on Tuesday to officially elect former Henkel chief executive Ulrich Lehner as the new chairman.

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BMW

Indicated unchanged

Annual press conference. The group said last week fourth-quarter earnings before interest and tax at its auto business rose by a third to 2.08 billion euros on the back of higher car sales, beating forecasts.

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MERCK KGAA

Indicated unchanged

Merck and Bristol-Myers Squibb struck a deal to cooperate on promotion of the type 2 diabetes drug Glucophage under different formulations in China, Merck said.

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VOLKSWAGEN

Indicated 0.3 percent higher

The carmaker sharply pared its growth outlook in Brazil for this year, a senior executive said on Monday, adding that the pace of investments in local factories will hinge on sales in the coming months.

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GSW IMMOBILIEN

Indicated 0.2 percent lower

The company said late Monday that Bernd Kottmann, a former manager from IVG Immobilien, will become its new CEO, effective 16 April 2013.

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DRILLISCH, FREENET

Drillisch indicated 2.9 percent higher

Freenet indicated 0.5 percent lower

The company said it was selling about half of its 20.8 percent stake in Freenet to Bank of America.

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XING

Indicated 0.5 percent higher

The career-networking site said late Monday Neil Sunderland, supervisory board chairman, will step down after the AGM on May 24.

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DEUTZ

Indicated 0.9 percent lower

The heavy engine manufacturer said its 2012 earnings before interest and tax dropped 58 percent to 38.5 million euros, citing a weak economy, start-up costs for new projects as well as higher write-downs.

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TOM TAILOR

Indicated 2.5 percent higher

The group said its 2012 earnings before interest, tax, depreciation and amortisation rose 19 percent to 55 million euros after its acquisition of Bonita.

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OVERSEAS STOCK MARKETS

Dow Jones -0.4 pct, S&P 500 -0.6 pct, Nasdaq -0.4 pct at Monday’s close.

Nikkei +2 pct at Tuesday’s close.

GERMAN ECONOMIC DATA

ZEW index for March due at 1000 GMT, with economic sentiment seen at 48.0 and current conditions at 6.0.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Victoria Bryan and Maria Sheahan)

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