August 27, 2013 / 5:23 AM / 4 years ago

German stocks - Factors to watch on August 27

FRANKFURT, Aug 27 (Reuters) - The DAX top-30 index looked set to open 0.6 percent lower on Tuesday, according to premarket data from brokerage Lang & Schwarz at 0625 GMT.

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


Indicated 0.9 percent lower

Unveiling details of its China strategy in Beijing on Tuesday, Daimler’s new China chief said the company would spend 2 billion euros over the next two years as it seeks to boost sales of Mercedes-Benz cars in China by a third to more than 300,000 cars a year by 2015.

Separately, a ruling over France’s sales ban for certain Mercedes cars by the country’s highest administrative court is expected on Tuesday. Daimler has requested a temporary injunction.

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Indicated 0.7 percent lower

The German utility is considering mothballing its nuclear power plants, German tabloid Bild reported, citing senior executive Mike Winkel. Power plants are only profitable if wholesale prices don’t sink further below 35-36 euros per Megawatt-hour. Currently they barely cover the operating costs for the four E.ON nuclear plants.

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Indicated 0.5 percent lower

The German carmaker is having some difficulty setting up its newest car plant in China, in Urumqi in the mainly Muslim populated western province of Xinjiang. While the plant will open this year, the body shop and the paint shop are not yet completed.

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Indicated 0.5 percent higher

Belarussian investigators said on Monday that they intend to seize property and assets of Russia’s Uralkali, the world’s top potash producer, following the collapse of a joint Russian-Belarussian venture, RIA reported.

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Trading 0.2 percent lower on Frankfurt floor

Europe’s largest television broadcaster, a unit of Bertelsmann, is selling its stake in Russia’s National Media Group worth roughly 80 million euros, German daily Handelsblatt reported on Tuesday, citing a put option that expires on Sept. 16. A spokesman told the paper that a final decision had not yet been taken.

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THYSSENKRUPP - Nomura lowers to “neutral” from “buy”, cuts price target to 15.50 euros from 17 euros.


Dow Jones -0.4 pct, S&P 500 -0.4 pct, Nasdaq flat at Monday’s close.

Nikkei.. pct at Monday’s close.


Business climate index for August from the Ifo think tank, seen rising to 107.0 from a prior 106.2 reading.



REUTERS TOP NEWS (Reporting by Peter Dinkloh and Christiaan Hetzner)

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