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German stocks - Factors to watch on October 15
October 15, 2015 / 5:08 AM / 2 years ago

German stocks - Factors to watch on October 15

FRANKFURT, Oct 15 (Reuters) - The DAX top-30 index looked set to open 0.7 percent lower on Thursday, according to premarket data from brokerage Lang & Schwarz at 0630 GMT.

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

VOLKSWAGEN

Indicated 0.9 percent higher

The German vehicle authority KBA wants to force Volkswagen to recall all cars that were involved in the diesel emission scandal, German newspaper Bild reported on Thursday, not citing any sources.

Separately, the U.S. Federal Trade Commission, which probes companies accused of deceptive advertising, has joined the Justice Department and Environmental Protection Agency in investigating VW, which is accused of lying about emissions from diesel cars.

In addition, the French government plans to reduce a tax break on diesel fuel to encourage drivers to opt for less-polluting petrol vehicles, the prime minister’s office said on Wednesday.

VW’s new chief executive will also brief top managers at a closed-door conference in Leipzig on investigations of the diesel-emissions scandal, plans to refit affected cars and possible spending cuts.

COMMERZBANK

Indicated 0.9 percent higher

The lender has agreed with Cologne prosecutors to pay 17 million euros ($19.52 million) of fines for tax evasion, Sueddeutsche Zeitung reported on Wednesday.

INFINEON

Indicated 1.0 percent higher

Fairchild Semiconductor has hired Goldman Sachs Group Inc to find a buyer and is in talks with companies including ON Semiconductor Corp and Infineon, Bloomberg reported on Wednesday.

AIRBUS GROUP

No indication

The planemaker’s defense chief expects more Eurofighter orders in coming years.

BILFINGER

Indicated 2.8 percent higher

The German engineering services firm said on Thursday it had identified areas with an output volume of about 1 billion euros, which in future will no longer be part of its core business.

PROSIEBENSAT.1

Indicated 1.9 percent higher

The German broadcaster on Thursday raised its 2018 outlook for sales and core profit, citing faster-than-expected growth.

ZALANDO

Indicated 4.7 percent lower

The online fashion retailer has lowered its 2015 profit guidance on higher marketing costs after raising its sales forecast.

KWS SAAT

Indicated 0.3 percent higher

Annual press conference.

PATRIZIA IMMOBILIEN

Indicated 0.4 percent higher

The company has appointed Karim Bohn as its new finance chief.

WACKER NEUSON

Indicated 12.1 percent lower

The company lowered its sales outlook and profit margin guidance.

OVERSEAS STOCK MARKETS

Dow Jones -0.9 pct, S&P 500 -0.5 pct, Nasdaq -0.3 pct at Wednesday’s close.

Nikkei +1.1 pct, Shanghai stocks +1.8 pct.

Time: 0630 GMT.

HAPAG-LLOYD

The container shipping group trimmed its initial public offering amid wobbly markets on Wednesday, saying it now expected to raise about $300 million from the sale of shares to investors.

GERMAN ECONOMIC DATA

No economic data scheduled.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS ($1 = 0.8711 euros) (Reporting by Andreas Cremer and Harro ten Wolde)

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