July 16, 2012 / 5:08 AM / 5 years ago

German stocks - Factors to watch on July 16

FRANKFURT, July 16 (Reuters) - The DAX top-30 index looked set to open 0.1 percent lower on Monday, according to premarket data from brokerage Lang & Schwarz at 0630 GMT.

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


Indicated 1.6 percent higher

Deutsche Bank may escape with a lighter penalty than other banks in Europe if investigators impose fines in the wake of an interest rate-rigging scandal, two sources familiar with the bank told Reuters on Sunday.

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Indicated 0.5 percent lower

Cancelling the London Olympics due, for example, to a security threat would result in damages of more than 4 billion euros ($4.9 billion), Andrew Duxbury, underwriting manager at Munich Re, told a German newspaper.

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Indicated 0.1 percent higher

Deutsche Post, Europe’s largest mail carrier, had a “very good” first quarter and the trend had continued on to the second quarter, a German daily said on Saturday, citing Chief Executive Frank Appel.

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Indicated 0.5 percent lower

Dominant carmaker Volkswagen reinforced its apparent immunity from the crisis engulfing Europe’s auto industry, reporting a hefty sales rise and staying on course for another record year.

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Indicated 0.2 percent lower in Frankfurt

The group’s defence unit Cassidian is to acquire 75.1 percent in Carl Zeiss Optronics GmbH, while Carl Zeiss AG will keep the remaining 24.9 percent.

Separately, the chief executive of Airbus said U.S. rival Boeing has slashed the prices of Boeing 737 Max aircraft in a bid to grab market share from Airbus A320neo, a German newspaper reported on Sunday.

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Up 7.3 percent in Frankfurt trade

The German printing machinery maker said its first-quarter operating loss had widened due to lower sales and costs for launching new products.

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Dow Jones +1.6 pct, S&P 500 +1.7 pct, Nasdaq +1.5 pct at Friday’s close.

Nikkei closed for a public holiday.


Ailing European carmaker Opel said it would not need to draw up a new mid-term business plan following a decision by parent General Motors Co to abruptly replace its chief executive and appoint GM Vice Chairman Stephen Girsky as interim CEO.

Separately, Girsky said changes have to be made at the carmaker to revitalise it, the German daily Bild said on Saturday, citing his email to staff.

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REUTERS TOP NEWS ($1 = 0.8167 euros) (Reporting by Marilyn Gerlach and Christoph Steitz)

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