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German stocks - Factors to watch on March 14
March 14, 2012 / 5:57 AM / 6 years ago

German stocks - Factors to watch on March 14

FRANKFURT, March 14 (Reuters) - The DAX top-30 index looked set to open 0.5 percent higher on Wednesday, according to premarket data from brokerage Lang & Schwarz at 0710 GMT.

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

E.ON

Indicated 1.2 percent higher

Germany’s top utility, expects its core profit to rise this year and next as it banks on its renewable energy business and foreign expansion following Germany’s nuclear exit, which led it to post a 2.22 billion euro ($2.9 billion) net loss for 2011.

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BAYER

Indicated 1.6 percent higher

Germany’s largest drugmaker said it aims for 2014 sales of 20 billion euros at its healthcare unit, while its Cropscience business aims for sales of more than 8 billion euros.

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ADIDAS

Indicated 0.8 percent lower

The German sportswear group said it launched a convertible bond with a volume of up to 500 million euros.

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HANNOVER RE

Indicated 0.3 percent higher

The world’s third-biggest reinsurer refrained from giving a profit outlook for 2012, citing the possible initial public offering of its majority shareholder, German insurer Talanx.

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HUGO BOSS

Indicated 0.7 percent higher

The German fashion house said sales growth would slow in 2012 after having reported record figures in 2011.

Separately, it said on Tuesday it will convert all preference shares into ordinary shares.

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WACKER CHEMIE

Indicated 0.2 percent lower

One of the world’s largest maker of polysilicon for the solar industry said it aims for 2012 sales of some 5 billion euros, while it expects earnings before interest, taxes, depreciation and amortization (EBITDA) to be markedly below 2011.

Separately, a top executive at the company told Frankfurter Rundschau the German government’s plans to cut solar power incentives are “manageable” for the company.

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SYMRISE

Indicated unchanged

The German fragrances and flavours specialist expects 2012 sales to increase by 2-4 percent, while trying to maintain an EBITDA margin of around 20 percent.

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OVERSEAS STOCK MARKETS

Dow Jones +1.7 pct, S&P 500 +1.8 pct, Nasdaq +1.9 pct at Tuesday’s close.

Nikkei +1.5 pct at Wednesday’s close.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS ($1 = 0.7628 euros) (Reporting by Harro ten Wolde and Ludwig Burger)

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