October 11, 2016 / 5:16 AM / 10 months ago

German stocks - Factors to watch on October 11

3 Min Read

FRANKFURT, Oct 11 (Reuters) - The DAX top-30 index looked set to open 0.3 percent lower on Tuesday, according to premarket data from brokerage Lang & Schwarz at 0607 GMT.

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

Banks

Moody's said German ship lenders would require further provisioning due to their large exposure to the shipping sector. It names Bremer Landesbank, DVB Bank, HSH Nordbank, KFW IPEX-BANK and NordLB as the most vulnerable.

Lufthansa, Air Berlin

Lufthansa indicated 0.3 percent higher

Air Berlin indicated 1.2 percent lower

Lufthansa and Air Berlin are still far apart in their talks about a leasing contract for 40 aircraft and it is unclear whether they will agree a deal, Sueddeutsche Zeitung reported, citing sources.

Separately, Lufthansa September traffic figures due at 1100 GMT.

Siemens, Nordex

Siemens indicated 0.3 percent lower

Nordex indicated 2.7 percent lower

The German government wants to slow the construction of new wind farms in northern Germany, giving approvals for only a third of planned wind farms, due to delays in the expansion to the country's electricity grid, Sueddeutsche Zeitung reported, citing a draft regulation.

Utilities

E.ON indicated 0.7 percent lower

Innogy indicated unchanged

No indication available for EnBW

Germany's green power surcharge is to rise to 6.88 euro cents per kilowatt hour from 6.35 cents, Frankfurter Allgemeine Zeitung reported, citing sources close to grid operators.

Volkswagen

Indicated 0.5 percent lower

All options are open for Volkswagen's trucks business, its Chief Executive Andreas Renschler told Boersen-Zeitung, but an initial public offering is not on the agenda, "not today and not tomorrow", he said.

Airbus

Down 0.3 percent in early Frankfurt trade

Airbus plans to slow the assembly rate of its A380 superjumbo to one aircraft per month from next year, the head of the A380 programme told Le Figaro, as the European planemaker struggles to revive sales of the world's largest passenger jet.

Talanx

Down 0.3 percent in early Frankfurt trade

The insurer and fintech group Finleap have set up a joint venture called Elinvar that will offer independent asset managers and medium-sized banks a digital platform, Handelsblatt daily reported, citing Elinvar Chief Executive Chris Bartz.

Wacker Chemie

Indicated 0.1 percent lower

Capital Markets Day due.

Officefirst

The real estate company and owner IVG Immobilien have decided to postpone a planned stock market listing due to negative market developments, OfficeFirst said late on Monday.

Overseas Stock Markets

Dow Jones +0.5 pct, S&P 500 +0.5 pct, Nasdaq +0.7 pct at close.

Nikkei +0.9 pct, Shanghai stocks +0.4 pct.

Time: 6.12 GMT.

German Economic Data

German ZEW index due at 0900 GMT. Economic sentiment seen at 4.0 vs 0.5 points, Current conditions seen at 55.1 vs 55.5.

European Factors to Watch

Diaries

REUTERS TOP NEWS (Reporting by Edward Taylor and Maria Sheahan)

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