July 22, 2016 / 6:32 AM / 2 years ago

German stocks - Factors to watch on July 22

BERLIN/FRANKFURT, July 22 (Reuters) - The DAX top-30 index looked set to open 0.3 percent lower on Friday, according to premarket data from brokerage Lang & Schwarz at 0625 GMT. The following are some of the factors that may move German stocks:


Indicated 0.4 percent lower

BMW denied it was considering building a new electric car battery factory in Thailand. Thailand’s industry minister had said earlier construction on such a plant was likely to start in the middle of next year with an investment of 2 billion baht ($57 million).


Indicated 0.6 percent lower

The supervisory board appointed Britta Seeger to the company’s management board. Seeger becomes head of sales at Mercedes-Benz Cars for three years starting January 2017, replacing Ola Kaellenius who will become the division’s R&D chief.


Indicated 0.4 percent lower

The lender and BHF Bank are tangled up in a scandal connected with Malaysian sovereign wealth fund 1MDB, German business daily Handelsblatt reported on Thursday, citing documents by the U.S. Department of Justice.


Indicated 0.5 percent lower

The healthcare group’s bid for Pfizer’s pump division is said to stall on valuation, Bloomberg reported on Thursday.


Indicated unchanged

The robotics maker said earnings before interest and tax this year will be reduced by about 30 million euros ($33 million) due to the takeover by China’s Midea Group Co Ltd .


Indicated 0.6 percent lower

The generic drugmaker said it has no knowledge of investor Active Ownership Capital’s (AOC) stake exceeding 5.05 percent.

AOC is questioning Stada’s biosimilars business and wants the company to cut 100 million euros of costs per year, Frankfurter Allgemeine Zeitung reported on Thursday, without citing the source of the information.


Indicated 7 percent lower

The auto parts supplier lowered its full-year profit guidance after second-quarter earnings fell on high fixed costs at one of its divisions.


ELRINGKLINGER - Berenberg cuts to “hold”, lowers price target to 18 from 28 euros


Dow Jones -0.42 pct, S&P 500 -0.36 pct, Nasdaq -0.3 pct at close.

Nikkei -1.09 pct, Shanghai stocks -0.67 pct.

Time: 6.10 GMT.


German July flash PMI due at 0730 GMT. Manufacturing PMI seen at 53.5 vs 54.5, Services PMI seen at 53.2 vs 53.7, Composite at 53.7 vs 54.4.


REUTERS TOP NEWS ($1 = 34.8900 baht) ($1 = 0.9068 euros) (Reporting by Andreas Cremer and Edward Taylor)

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