FRANKFURT/BERLIN, Aug 21 (Reuters) - The DAX top-30 index looked set to open 0.3 percent lower on Monday, according to premarket data from brokerage Lang & Schwarz at 0633 GMT.
The following are some of the factors that may move German stocks:
German Chancellor Angela Merkel warned on Sunday against a swift abandonment of diesel cars after a series of emissions scandals, saying the fuel is still needed if climate change targets are to be met.
The emissions scandal ensnaring German carmakers is a risk to the German economy, the finance ministry said on Monday, adding that it was impossible at the moment to quantify its impact.
Indicated 0.2 percent lower
A federal jury has cleared Bayer and Johnson & Johnson of liability in the third case to go to trial out of thousands of lawsuits claiming the drugmakers’ blood thinner Xarelto led to severe internal bleeding.
German economy minister Brigitte Zypries told Handelsblatt she would like to see the German air travel tax abolished in order to strengthen German aviation companies.
The group’s finance chief Marcus Kuhnert affirmed that any acquisitions worth more than 500 million euros ($587 million) would have to be financed with divestments for the time being, according to an interview in Boersen-Zeitung’s Saturday edition.
Indicated 0.2 percent lower
Thyssenkrupp is among foreign companies that declined to bid for a contract to build a $1 billion natural gas plant for Petrobras, sources familiar with the matter told Reuters.
A Moscow court has rejected a request by Siemens to seize its gas turbines, which have turned up in Crimea contrary to EU sanctions, and to ban their installation ahead of preliminary hearings next month, the court’s ruling showed on Sunday.
U.S. federal prosecutors on Friday recommended a three-year prison sentence for Volkswagen engineer James Liang for his role in a diesel emissions scandal that has cost the German automaker as much as $25 billion.
Also, unit Seat would need a factory in Latin America to grow its market share there, its Chief Executive Luca de Meo told Automobilwoche, without saying whether the carmaker was considering a plant there.
Volkswagen also said it has decided to go ahead with production of an electric version of its classic Microbus camper van as it seeks to boost its electric vehicle credentials.
Lower Saxony state premier Stephan Weil told Handelsblatt he sees no conflict of interest in him holding a VW supervisory board seat.
Indicated 0.6 percent lower
Shareholders of Stada tendered 63.85 percent of shares in the generic drugmaker to buyout firms Bain and Cinven, a final tally showed late on Friday. Stada is due to hold a media call at 0830 GMT on Monday.
Air Berlin has spoken with more than 10 parties interested in parts of the insolvent carrier and expects its assets will be divided up amongst two or three buyers, its chief executive told a German paper.
Also, administrator Frank Kebekus told Handelblatt daily that a total liquidation of insolvent Air Berlin’s maintenance unit is unlikely, though he indicated it may not be possible to sell the unit as a whole.
No indication available
Portfolio company Home24 is not thinking about a stock market flotation at present, CEO Marc Appelhoff told Frankfurter Allgemeine Sonntagszeitung in an interview.
ADLER REAL ESTATE - Equinet cuts to “accumulate” from “buy”
ADO PROPERTIES - Jefferies cuts to “hold” from “buy”
Dow Jones -0.4 pct, S&P 500 -0.2 pct, Nasdaq -0.1 pct at close.
Nikkei -0.3 pct, Shanghai stocks +0.3 pct.
Time: 5.26 GMT.
No economic data scheduled.
REUTERS TOP NEWS ($1 = 0.8511 euros) (Reporting by Maria Sheahan, Victoria Bryan and Ludwig Burger)