January 16, 2009 / 6:13 AM / 11 years ago

German stocks - Factors to watch on Jan 16

FRANKFURT, Jan 16 (Reuters) - The DAX top-30 index .GDAXI looked set to open 1.8 percent higher on Friday, according to pre-market data from brokers at 0745 GMT.

The following are some of the factors that may move German stocks on Friday (share price indications at 0745 GMT):

COMMERZBANK (CBKG.DE)

Indicated 9.2 percent higher

Commerzbank CEO Martin Blessing is confident the merged Commerzbank and Dresdner Bank has enough earnings power to pay back the billions of euros in German government support, he said at an AmCham New Year’s reception in Stuttgart on Thursday.

Related news [CBKG.DE-E]

POSTBANK DPBGn.DE

Indicated 4.3 percent higher

CEO Wolfgang Klein is confident of reaching the bank’s goal of a pretax return on equity of 13-15 percent over the medium term, despite the financial crisis, he said at an academic conference late on Thursday.

Related news [DPBGn.DE]

E.ON EONG.DE

Indicated 3.6 percent higher

Russia said on Thursday it will encourage E.ON and other European firms to join Italy’s ENI (ENI.MI) in a consortium of gas importers that would provide gas to Ukraine to resume gas transit to Europe. [ID:nLF693465] [ID:nLV634765]

Separately, Norway’s STATKRAFT [STATKF.UL] wants to hold on to its stake in E.ON long-term, its chief executive told German business daily Handelsblatt.

Related news [EONG.DE-E]

ADIDAS ADSG.DE

Indicated 1.7 percent higher

Adidas plans to cut 300 jobs at its Reebok brand in North and South America. [ID:nLF362208]

Related news [ADSG.DE-E]

HEIDELBERG CEMENT (HEIG.DE)

Indicated 1.4 percent higher

Goldman Sachs (GS.N) has expressed an interest in taking a stake in HeidelbergCement, possibly in partnership with TPG [TPG.UL], The Wall Street Journal reported, citing people familiar with the matter. [ID:nLG286656]

Related news [HEIG.DE-E]

FRESENIUS SE FREG_p.DE

Indicated 1.6 percent higher

Fresenius SE raised $800 million in a substantially oversubscribed debt offering. [ID:nWEA1980] [ID:nLF747532]

Related news [FREG_p.DE-E]

OVERSEAS STOCK MARKETS

Dow Jones .DJI +0.2 pct, S&P 500 .SPX +0.1 pct, Nasdaq .IXIC +1.5 pct [ID:nN15377470]

Nikkei .N225 +2.6 pct. [ID:nT283001]

European factors to watch [WATCH/EU]

Diaries [DE/DIA] [WEU/EQUITY]

Reuters TOP NEWS [ID:nTOPNEWS]

Reporting by Nicola Leske and Peter Starck

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