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German stocks - Factors to watch on October 12
October 12, 2016 / 5:11 AM / a year ago

German stocks - Factors to watch on October 12

FRANKFURT/BERLIN, Oct 12 (Reuters) - The DAX top-30 index looked set to open 0.1 percent higher on Wednesday, according to premarket data from brokerage Lang & Schwarz at 0811 GMT.

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

BASF

Indicated 1.3 percent higher

The world’s largest chemicals maker said on Tuesday its third-quarter operating profit dropped 5.4 percent to 1.5 billion euros ($1.7 billion), beating analysts’ average expectations of 1.3 billion, and stuck to its 2016 outlook.

BMW

Indicated 0.1 percent lower

Chief Executive Harald Krueger on Tuesday said that a plug-in hybrid BMW I8 Roadster would be added to the sport luxury brand’s lineup in 2018.

DEUTSCHE BANK

Indicated 0.1 percent higher

Deutsche Bank pays more to borrow from other banks than its peers including stragglers in Greece and Italy, Euribor data showed on Tuesday, a trend that underscores the gravity of the problems facing Germany’s flagship lender.

The lender promoted a group of its senior investment bankers on Tuesday, part of an internal reshuffle as it tries to boost its flagging performance in corporate mergers and acquisitions and capital markets.

Deutsche Bank has hired Mohamed Atmani as the head of its financial sponsors coverage in Asia Pacific from Swiss bank UBS , the German bank said in an internal memo seen by Reuters on Wednesday.

DEUTSCHE POST

Indicated unchanged

The world’s biggest mail and logistics group will next year increase postage for letters for its business customers, Frankfurter Allgemeine Zeitung reported on Wednesday, citing a company presentation.

VOLKSWAGEN

Indicated 0.1 percent lower

The carmaker may cut up to 2,500 jobs per year over 10 years by moving workers into early retirement, Handelsblatt reported on Wednesday, citing Bernd Osterloh, chief of the carmaker’s influential works council.

VW’s luxury division Audi will keep offering its 3 litre diesel engine in the United States, German newspaper Heilbronner Stimme reported, citing a letter by Audi Chief Executive Rupert Stadler to staff.

Seperately VW said it would put forward more realistic figures about its car emissions, confirming a story in Sueddeutsche Zeitung.

AMADEUS FIRE

Indicated 4.1 percent higher

The company has raised its 2016 earnings guidance and expects operating profit to match year-ago results after previously guiding for lower earnings before interest, tax and amortisation (EBITA).

ROCKET INTERNET

Indicated 0.8 percent higher

Deutsche Boerse said on Tuesday the composition of the smallcap index would change with German e-commerce investor Rocket Internet replacing Chorus Clean Energy.

TELE COLUMBUS

Indicated 0.2 percent lower

The company extended the contracts of its chief executive and finance chief ahead of time.

IPOS

Online pharmacy Shop Apotheke Europe said on Tuesday it had set the price for its Frankfurt stock floating at 28 euros apiece, aiming its first day of trading in the Frankfurt stock exchange Oct. 13.

OVERSEAS STOCK MARKETS

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

Nikkei -1 pct, Shanghai stocks -0.4 pct.

Time: 6.14 GMT.

GERMAN ECONOMIC DATA

German September wholesale prices +0.4 pct m/m, -0.3 pct y/y.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Harro ten Wolde and Andreas Cremer)

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