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German stocks - Factors to watch on July 2
July 2, 2012 / 5:11 AM / 5 years ago

German stocks - Factors to watch on July 2

The DAX top-30 index looked set to open 0.1 percent higher on Monday, according to premarket data from brokerage Lang & Schwarz at 0607 GMT.

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


Indicated 0.3 lower

The industrial gas producer said on Sunday it agreed to pay $4.6 billion for Lincare Holdings Inc, a Florida-based provider of oxygen and respiratory therapy services to patients in the home.

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Fresenius indicated 0.1 percent lower

Rhoen-Klinikum indicated 9.7 percent lower

Germany’s Fresenius failed to win the minimum acceptance among Rhoen-Klinikum AG shareholders for its takeover offer, suffering a defeat in its bid to create a nationwide network of private hospitals.

Rhoen-Klinikum said it was not yet clear how much consultancy and other costs linked to the takeover effort would weigh on its earnings and added that it still planned to play an active role on consolidating the hospitals market.

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MAN 0.1 indicated percent lower

Daimler indicated 0.1 percent lower

Fiat Industrial’s truck unit Iveco will close five truck plants in three European countries by the end of 2012 to adapt its manufacturing footprint to Europe’s plummeting truck sales, Iveco CEO Alfredo Altavilla said on Sunday.

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Indicated 0.3 percent lower

BMW plans to hire thousands of permanent staff after cutting the number of its temporary workers by half, a German magazine reported on Saturday.

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Indicated 0.1 percent higher

Michael Suess, Siemens board member in charge of the Energy division, urged a radical reform of Germany’s law on renewable energy in Monday’s Sueddeutsche Zeitung, saying subsidies were good for kicking things off but then they needed to stop.

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Indicated 0.5 percent lower

Post will examine later this year whether conditions would allow it to raise prices for mail service next year, after years of stable prices, its Chief Financial Officer Larry Rosen told the Frankfurter Allgemeine Sonntagszeitung.

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Indicated 0.2 percent lower

The Federal Cartel Office plans to unveil fines in July in a long-running probe of price fixing in steel rails, the Sueddeutsche Zeitung reported, adding that Thyssen faces a fine in the millions of euros.

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Indicated 0.3 percent higher

German shipping company Hamburg Sued would be an “ideal” merger partner to help vault rival Hapag-Lloyd into the top tier of shipping companies, a big shareholder in Hapag-Lloyd told Wirtschaftswoche magazine.

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Indicated 0.3 percent higher

MTU Aero Engines said on Friday it has increased its stake in the V2500 engine programme within the four-party IAE consortium that also includes Pratt & Whitney, Rolls-Royce and Japanese Aero Engine Corporation. The stake has risen to 16 percent from 11 percent, it said.

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German state-backed lender WestLB was broken up in time to meet an EU-imposed July 1 deadline, with its former owners hoping to draw a line under years of losses and controversy at what was once the country’s biggest landesbank.

Separately, Bundesbank Vice President Sabine Lautenschlaeger told Focus magazine that Germany’s banks are more resilient now than they were in the last crisis, having cut risks and built up their equity capital and liquidity positions.


Dow Jones up 2.2 pct, S&P 500 up 2.5 pct, Nasdaq up 3 pct at Friday’s close.

Nikkei closed down 0.04 pct.




REUTERS TOP NEWS (Marilyn Gerlach and Jonathan Gould)

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