June 18, 2013 / 5:17 AM / 4 years ago

German stocks - Factors to watch on June 18

FRANKFURT, June 18 (Reuters) - The DAX top-30 index looked set to open 0.1 percent lower on Tuesday, according to premarket data from brokerage Lang & Schwarz at 0628 GMT.

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

COMMERZBANK

Indicated 0.5 percent higher

The lender will shed more than 5,000 jobs as part of its cost cutting programme, a person familiar with the negotiations told Reuters on Tuesday.

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DAIMLER, BMW, VOLKSWAGEN

Daimler indicated 0.3 percent lower

BMW indicated 0.3 percent lower

Volkswagen indicated 0.4 percent higher

European car sales last month plunged to the lowest level in two decades for May, further eroding manufacturers’ hopes for a recovery this year.

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ALLIANZ

Indicated unchanged

Andrew Torrance will become the new chief executive of Allianz’s troubled U.S. insurance unit, Fireman’s Fund, Allianz said on Monday. Torrance, currently CEO of Allianz UK, replaces Lori Dickerson Fouche, who left to join Prudential Financial Inc.

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SIEMENS, EADS

Siemens indicated unchanged

EADS indicated 0.4 percent higher in Frankfurt

Siemens, EADS and Diamond Aircraft have entered a long-term research partnership and signed a memorandum of understanding (MoU) in the field of electric propulsion systems.

Separately, Boersen-Zeitung reported, citing no sources, that Siemens is again trying to pull out of Nokia Siemens Networks (NSN), its joint venture with Nokia .

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KABEL DEUTSCHLAND

Indicated 4.8 percent higher

Germany’s biggest cable operator confirmed on Monday that they have received a preliminary approach from U.S. media group Liberty Global Plc after a British newspaper reported that the company had put forward a 7.5-billion-euro bid for the company.

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AIR BERLIN

Indicated 0.2 percent higher

German airline pilot trade union Cockpit called strikes from the middle of this week at Air Berlin in a dispute over pay.

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ANNUAL GENERAL MEETINGS

BECHTLE - 1.00 eur/shr dividend proposed

OVERSEAS STOCK MARKETS

Dow Jones +0.7 pct, S&P 500 +0.6 pct, Nasdaq +0.8 pct at Monday’s close.

Nikkei -0.2 pct at Tuesday’s close.

GERMAN ECONOMIC DATA

ZEW analyst and investor sentiment index due 0900 GMT. The consensus forecast in a Reuters poll of analysts was for a rise to 38.1 from 36.4.

IPO

A direct sale of German publisher Springer Science+Business Media to BC Partners is still an option, even after Springer’s owners said last week their focus was on a stock exchange listing, two people familiar with the talks said on Monday.

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EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Jonathan Gould and Christoph Steitz)

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