June 8, 2015 / 5:41 AM / 2 years ago

German stocks - Factors to watch on June 8

FRANKFURT, June 8 (Reuters) - The DAX top-30 index looked set to open 0.2 percent lower on Monday, according to premarket data from brokerage Lang & Schwarz at 0635 GMT. The following are some of the factors that may move German stocks:

DEUTSCHE BANK

Indicated 6.2 percent higher

Germany's largest lender Deutsche Bank purged its leadership on Sunday, appointing Briton John Cryan as chief executive to replace Anshu Jain just two weeks after Jain was given more power to reorganise the bank.

Separately it emerged that Germany's largest lender is looking into possible money laundering transactions by some of its clients in Russia which could exceed $6 billion, a source familiar with the matter told Reuters on Friday.

VOLKSWAGEN

Indicated 0.2 percent lower

Volkswagen should place greater emphasis on exploiting efficiency gains from its modular platforms, Lower Saxony Premier Stephan Weil told Frankfurter Allgemeine Zeitung.

METRO

Indicated unchanged Signa, the owners of department store Karstadt will provide multi-year job guarantees for employees of Metro owned chain Kaufhof if a deal is allowed to go ahead between the two companies, Signa manager Stephan Fanderl told Bild am Sonntag.

BRENNTAG

Indicated 0.2 percent lower

The German chemicals distributor is on the lookout for takeover targets including in North America, CEO Steven Holland told Germany's Welt am Sonntag. The company has a war chest of between 200 and 250 million euros annually, the paper said.

GEA

Indicated 0.2 percent lower

The German food processing equipment maker GEA is on the lookout for takeover targets to expand its presence in emerging markets and to add new technologies to its portfolio. The company has about 1.5 billion euros at its disposal for acquisitions, CFO Helmut Schmale told Boersen-Zeitung.

OVERSEAS STOCK MARKETS

Dow Jones minus 0.3 pct, S&P 500 minus 0.1 pct, Nasdaq plus 0.2 pct .

Nikkei unchanged at Monday's close.

GERMAN ECONOMIC DATA

German April industrial output rose 0.9 percent m/m.

German April trade balance shows surplus of 22.3 billion euros.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Edward Taylor and Jonathan Gould)

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