(Changes entry on Porsche to be filed under Volkswagen, not
FRANKFURT Dec 23 The DAX top-30 index
looked set to open 0.1 percent higher on Friday, according to
premarket data from brokerage Lang & Schwarz at 0733 GMT.
The following are some of the factors that may move German
Indicated 0.1 percent lower
BASF Chief Executive Kurt Bock told German FAZ he saw signs
for the chemical cycle to bottom out, but cautioned on potential
impact for the group's earnings targets. "We maintain our
guidance for this year and it is still too early for a 2017
outlook," Bock was quoted as saying.
Indicated 3.3 percent higher
Deutsche Bank has agreed to a $7.2 billion settlement with
the U.S. Department of Justice over its sale and pooling of
toxic mortgage securities in the run-up to the 2008 financial
Separately, Der Spiegel reported that talks between the
lender and former managers over the refund of bonus payments
came to a halt as supervisory board chairman Paul Achleitner
failed to reach an agreement with Josef Ackermann and other
Separately, the state court in Frankfurt has annulled
several decisions taken at the bank's annual general meeting,
Sueddeutsche Zeitung reported, saying the court said a minimum
dividend should have been paid and declaring the management and
supervisory board's approval by shareholders to be void. The
bank can catch up on the decisions at the next AGM and has the
opportunity to repeal the court's decision.
In advancing their planned merger, the German exchange
operator and its London counterpart LSE appear to be
prepared for further compromises with the German state of Hesse
and provide the regulator with a permanent veto right, FAZ
reported citing unnamed sources.
Indicated 0.2 percent lower
Fresenius receives Spanish antitrust approval for the
roughly 6 billion euro takeover of Quirónsalud.
Indicated 0.3 percent lower
A German environmental regulator, the Regierungspraesidium
Kassel, is due to hold a news conference at 1000 GMT on the
potash miner K+S's request for a permit for waste water
Indicated 1.4 percent lower
European Commissioner Vera Jourova wants VW to improve
compensation for European consumers who have been impacted by
the Dieselgate emissions scandal, Die Welt reported.
Separately, a federal judge said on Thursday that Volkswagen
AG has reached an agreement in principle to provide "substantial
compensation" to the owners of about 80,000 3.0-liter polluting
diesel vehicles, a key hurdle to resolve the German automaker's
Separately, the head of VW's luxury brand unit Audi, Rupert
Stadler, told Handelsblatt he did not consider stepping down
amid the unit's entanglement in the emissions scandal. "My style
of management and me have shaped the company and want to
continue doing so," Stadler was quoted as saying.
Separately, the carmaker's luxury unit Porsche said a first
billion euro claim by U.S. hedge funds over alleged short
selling transactions has been dismissed by Germany's Federal
Court of Justice.
Indicated 0.2 percent lower
The carbon fibre producer shareholder Voith's voting stake
has fallen to 2.99 percent, from 5.12 percent. SGL recently
undertook a capital increase where Voith declined to
OVERSEAS STOCK MARKETS
Dow Jones -0.1 pct, S&P 500 -0.2 pct, Nasdaq
-0.4 pct at close.
Japanese markets closed, Shanghai stocks -0.9 pct.
Time: 7.11 GMT.
GERMAN ECONOMIC DATA
The mood among German consumers improved heading into
January as they became more upbeat about their future income, a
survey showed on Friday, suggesting household spending will
continue to propel economic growth at the beginning of next
EUROPEAN FACTORS TO WATCH
REUTERS TOP NEWS
(Reporting by Edward Taylor and Tina Bellon)