Reuters logo
German stocks - Factors to watch on November 16
November 16, 2015 / 6:13 AM / 2 years ago

German stocks - Factors to watch on November 16

FRANKFURT, Nov 16 (Reuters) - The DAX top-30 index looked set to open 1.2 percent lower on Monday, according to premarket data from brokerage Lang & Schwarz at 0728 GMT.

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

PARIS ATTACKS

Stocks are set for a short-term sell-off on Monday after Islamist militants launched coordinated attacks across Paris that killed 129 people.

EURO FINANCE WEEK

First day of Euro Finance Week in Frankfurt, with speakers including ECB Vice President Vitor Constancio, Deutsche Bank co-CEO Juergen Fitschen and BaFin chief Felix Hufeld.

DEUTSCHE POST

Indicated 1.2 pct lower

The postal and logistics company expects a 10 percent increase in its parcel business at Christmas compared with last year’s period, Frankfurter Allgemeine Zeitung said on Monday, citing the company. Deutsche Post plans to hire around 10,000 additional temporary workers for the period, it also said.

VOLKSWAGEN

Indicated 0.6 pct lower

The carmaker will present a technical solution for its 1.6-litre diesel engines, according to Sueddeutsche Zeitung, NDR and WDR.

Separately, sources told Reuters that VW is working with banks to put together as much as 20 billion euros ($21.5 billion) in bridge financing to cover the cost of the emissions cheating scandal. VW will meet with about a dozen banks on Monday, they said.

In addition, VW works council chief Bernd Osterloh does not know whether diesel emission manipulations committed by the company involved 10, 50 or even 100 people, he told German news agency DPA in an interview published on Friday.

Also, Porsche’s executive board and works council agreed that employee representatives will have a decisive influence on future service contracts, Stuttgarter Zeitung reported on Sunday in an excerpt of an article to be published on Monday, citing the chairman of the general works council, Uwe Hueck.

DIALOG SEMICONDUCTOR

Indicated 3.7 pct lower

Activist hedge fund Elliott has raised its stake in Dialog to 5 percent and urged other shareholders on Friday to join it in opposing Dialog’s takeover of U.S. peer Atmel.

Separately, Dialog’s Chief Executive Jalal Bagherli defended the takeover plans in an interview with weekly Euro am Sonntag, saying “if we limit ourselves to smartphones and tablets as previously, we will within two to three years no longer meet our goal of being a growth company”. “Therefore, a big step is necessary,” he said.

TELE COLUMBUS

No indication available

Germany’s third-largest cable network operator will probably post losses over the next few quarters as the recent takeovers of smaller rivals Primacom and Pepcom brought significant additional costs, CFO Frank Posnanski told Boersen-Zeitung.

OVERSEAS STOCK MARKETS

Dow Jones -1.2 pct, S&P 500 -1.1 pct, Nasdaq -1.5 pct at close.

Nikkei -1 pct, Shanghai stocks +0.7 pct.

GERMAN ECONOMIC DATA

No economic data scheduled.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS ($1 = 0.9285 euros) (Reporting by Jonathan Gould, Kirsti Knolle and Christoph Steitz)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below