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German stocks - Factors to watch on March 7
March 7, 2013 / 5:47 AM / 5 years ago

German stocks - Factors to watch on March 7

FRANKFURT, March 7 (Reuters) - The DAX top-30 index looked set to open 0.1 percent higher on Thursday, according to premarket data from brokerage Lang & Schwarz at 0716 GMT.

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


Indicated 2.1 percent lower

The world’s second largest sports apparel firm, reported an unexpected loss in the fourth quarter, with results hit by writedowns linked to the weak performance of Reebok. Poll:

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Indicated 3.2 percent higher

German drugmaker Merck KGaA reported better-than-expected quarterly earnings on cost cuts and higher prices for its multiple sclerosis drug Rebif.

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Indicated 0.5 percent higher

The world’s No.2 industrial gases producer said it expects its operating profit to rise to at least 5 billion euros ($6.5 billion) in 2016 after posting solid growth in 2012.

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Indicated 0.4 percent higher

Q4 results due. The tyre and car parts maker is expected to report its quarterly adjusted earnings before interest and tax rose 8.2 percent to 883 million euros. Poll:

Separately, its finance chief told a German newspaper the company may tap bond markets to take advantage of currently low interest rates.

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Indicated 1.0 percent higher

Porsche Automobil Holding SE said 12 hedge funds have decided to drop out of a U.S. lawsuit accusing the German automaker of causing them losses by fraudulently cornering the market for Volkswagen AG shares.

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Indicated 1.0 percent lower

The carmaker will make its new compact SUV at its Rastatt plant in Germany, Stuttgarter Zeitung cited development chief Thomas Weber as saying in an interview.

Separately, Daimler said it has asked its developers to design an air conditioning system using carbon dioxide rather than a controversial coolant mandated by the European Union. It said it will work on the new system with Audi, BMW, Volkswagen and Porsche.

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Indicated 0.3 percent higher

Dutch cable operator Ziggo will appoint Deutsche Telekom chief executive Rene Obermann as its new CEO from January 2014, the group said late on Wednesday.

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Indicated 0.1 percent higher

Germany’s largest bank said it does not plan to cut jobs in its retail business, German newspaper Frankfurter Allgemeine Zeitung reported, citing Christian Ricken, member of the company’s executive committee.

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Indicated 1.4 percent higher

The reinsurer expects 2013 net income to drop some 7 percent to around 800 million euros after posting a better-than-expected bottom line for 2012.

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Indicated unchanged

Osram, the lighting group of Siemens, said it agreed to sell a factory in China’s Shaoxing as part of a move to cut costs and shift investments to light-emitting diode (LED) technology.

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Indicated 0.3 percent lower

The property company said it sold an asset in Hamburg for 15 million euros, representing a slight premium to the appraised value at year-end.

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Dow Jones +0.3 pct, S&P 500 +0.1 pct, Nasdaq -0.1 pct at Wednesday’s close.

Nikkei +0.3 pct at Thursday’s close.


KLOECKNER & CO - Jefferies raises target price to 8 euros from 7.50 euros; rating “underperform”

STADA - Berenberg raises to “buy” from “hold”; raises price target to 35 euros from 27 euros


Goldman Sachs Capital Partners said it did not exercise a 175 million euro greenshoe option on the initial public offering of LEG Immobilien, cutting the IPO volume to 1.17 billion euros.

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German January industrial orders due at 1100 GMT. Seen +0.5 pct m/m.



REUTERS TOP NEWS ($1 = 0.7677 euros) ($1 = 0.7692 euros) (Reporting by Maria Sheahan, Christoph Steitz and Peter Dinkloh)

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