29 de septiembre de 2014 / 5:13 / en 3 años

German stocks - Factors to watch on September 29

FRANKFURT, Sept 29 (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 0645 GMT.

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

MIFA

Indicated 20.5 percent lower

Bicycle maker MIFA Mitteldeutsche Fahrradwerke said it had lost half of its registered share capital and it estimated it would report negative equity for the first half of the year.

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SGL CARBON

Indicated 4.9 percent lower

The company said it expected proceeds of about 267.4 million euros after the issue of 20.18 million new ordinary bearer shares.

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ALLIANZ

Indicated 1.3 percent higher

Allianz is about to extend the contract with its Chief Executive Michael Diekmann, German newspaper Handelsblatt reported on Monday, citing company sources.

Separately, Pimco named Dan Ivascyn, one of its deputy chief investment officers, as Group Chief Investment Officer to replace Bill Gross, who quit Pimco for distant rival Janus Capital Group Inc on Friday.

Bill Gross’s exit from the investment firm Pimco had an immediate impact on the company, with investors withdrawing about $10 billion following the announcement, the Wall Street Journal reported, citing a person familiar with the matter.

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COMMERZBANK

Indicated 1.2 percent lower

Commerzbank is being investigated by the Manhattan U.S. attorney for alleged violations of money-laundering laws, the Wall Street Journal reported on Friday.

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RWE

Indicated 1.1 percent lower

German utility RWE AG said on Sunday it still lacked a “comfort letter” from Britain’s Department of Energy and Climate Change (DETCC), a prerequisite for closing the sale of its oil and gas unit RWE Dea AG.

The sale of German utility RWE’s oil and gas unit DEA to a Russian investor faces British opposition that could delay or scupper the deal, German magazine Der Spiegel reported on Sunday.

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HENKEL

Indicated 0.3 percent higher

The consumer goods group is looking for ways to cut costs to make up for a decline in sales caused by economic slowdown in Russia, its fourth-largest market, its chief executive told Wirtschafts Woche.

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BMW

Indicated 0.2 percent higher

BMW plans to overhaul its German sales network to cut costs, WirtschaftsWoche magazine reported, citing no sources. The move will give the executive board more control over the sales network and may result in the sale of some branches, it said.

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E.ON

Indicated 0.2 percent higher

Some banks have yet to make commitments needed before a capital increase at E.ON’s Brazilian affiliate Eneva, German daily Rheinische Post reported, citing company sources.

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THYSSENKRUPP, SALZGITTER

ThyssenKrupp indicated 0.1 percent lower

Salzgitter indicated 0.2 percent higher

European steel companies will have to cut a substantial number of jobs to bolster their earnings, reflecting a slump in demand and Asian competition, Wolfgang Eder, vice president of the World Steel Association, was quoted as saying by a German newspaper.

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LUFTHANSA

Indicated 0.1 percent lower

Lufthansa pilots will strike on Tuesday after talks over an early retirement scheme broke down again, taking out long-haul flights from Frankfurt between 0600 and 2100 GMT.

Lufthansa may use pilots from Switzerland-based PrivateAir to operate 14 Airbus A340 aircraft for long-haul budget flights to get around the need for staff pilots’ approval for its no-frills expansion, German magazine Der Spiegel reported.

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NORMA GROUP

No indication available

The engineering firm is still on the lookout for acquisition targets and could spend as much 200 million euros ($254 million) on a takeover, its chief executive told Welt am Sonntag.

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AIR BERLIN

No indication available

Air Berlin’s finance chief Ulf Huettmeyer will continue in his job while taking up a leading position in the finance team of Abu Dhabi-based Etihad, Air Berlin said on Monday.

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OVERSEAS STOCK MARKETS

Dow Jones +1 pct, S&P 500 +0.9 pct, Nasdaq +1 pct at Friday’s close.

Nikkei +0.5 pct at Monday’s close.

IPO

Shares in Snowbird AG, a Chinese maker of down for clothing and bedding, are due to start trading on the Frankfurt stock exchange. The stock was priced at 6 euros per share.

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GERMAN ECONOMIC DATA

Preliminary German inflation data for September due at 1200 GMT. CPI seen -0.1 pct m/m, +0.8 pct y/y. HICP seen -0.1 pct m/m, +0.7 pct y/y.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS ($1 = 0.7885 euro) (Reporting by Maria Sheahan, Edward Taylor and Harro ten Wolde)

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