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German stocks - Factors to watch on June 20
June 20, 2013 / 5:13 AM / 4 years ago

German stocks - Factors to watch on June 20

FRANKFURT, June 20 (Reuters) - The DAX top-30 index looked set to open 1.7 percent lower on Thursday, according to premarket data from brokerage Lang & Schwarz at 0612 GMT.

The following are some of the factors that may move German stocks on Thursday.


Indicated 0.9 pct lower

The industrial gases producer has shortlisted possible successors to Chief Executive Wolfgang Reitzle, German paper Die Welt said in its Thursday edition, citing people close to the company. Henkel CEO Kasper Rorsted and BASF deputy chief executive Martin Brudermueller are among those in the running, Die Welt said.

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Allianz indicated 1.1 pct lower

Munich Re indicated 1.5 pct lower

Catastrophe modeling firm AIR Worldwide estimates insured losses in Germany from the recent floods in central Europe at between 4.0-5.8 billion euros. Munich Re on Thursday said it is too early to gauge the extent of its own share of the damage.

Allianz has already given its estimate.

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Indicated 1.1 pct lower

Auto parts rival Bosch said on Wednesday it had agreed to work on next-generation lithium-ion batteries with Japan’s GS Yuasa International Ltd. and Mitsubishi Corporation.

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Indicated 0.4 pct lower

B. Braun Holding, the shareholder who is sueing Rhoen for not counting its votes at the AGM, is “convinced, following repeated legal assessments,” that the votes were cast correctly, a B. Braun spokeswoman told Frankfurter Allgemeine Zeitung.

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Indicated 0.9 pct lower

The chief executive of the German real estate company vowed to stay in the job he has held only for a matter of weeks, despite a vote of no confidence by shareholders.

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SIXT - 1.00 eur/shr dividend proposed

WIRECARD - 0.11 eur/shr dividend proposed

DEUTSCHE EUROSHOP - 1.20 eur/shr dividend proposed


KRONES - 0.75 eur/shr

BRENNTAG - 2.40 eur/shr


U.S. stocks fell more than 1 percent on Wednesday after Federal Reserve Chairman Ben Bernanke said the central bank would start to reduce its stimulus measures later this year if the economy is strong enough.

Dow Jones down 1.3 pct, S&P 500 down 1.4 pct, Nasdaq down 1.1 pct at Wednesday’s close.

Nikkei closed down 1.7 pct.


Markit flash PMI for June due 0728 GMT. The consensus forecast in a Reuters poll of economists was for a rise to 49.8 from 49.4 in manufacturing and to 50.0 from 49.7 in services.

Producer prices for May rose 0.2 percent from a year earlier. Economists polled by Reuters had forecast an increase of 0.3 percent on the year.



REUTERS TOP NEWS (Reporting by Jonathan Gould and Christoph Steitz)

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