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German stocks - Factors to watch on December 27
December 27, 2016 / 6:13 AM / 10 months ago

German stocks - Factors to watch on December 27

FRANKFURT, Dec 27 (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 0708 GMT.

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

BMW, DAIMLER, VOLKSWAGEN

BMW indicated 0.2 percent lower

Daimler indicated 0.2 percent lower

Volkswagen indicated 0.1 percent lower

The carmakers are selling a 10 percent stake in mapping company HERE to Chinese mapping company NavInfo, internet services giant Tencent, and Singapore-based investment firm GIC, HERE said on Monday.

Separately, VW trucks chief Andreas Renschler said the firm aimed to be the a global champion in terms of customer satisfaction, innovation and profitability, rather than in terms of sales volume, according to Handelsblatt daily.

COMMERZBANK

Indicated 0.1 percent higher

The lender’s German wealth management unit aims to grow faster than the market by taking market share from public-sector savings banks and mutual savings banks who are overburdened by new regulation, the head of Commerzbank’s wealth management unit told weekly Euro am Sonntag.

SIEMENS

Indicated 0.4 percent lower

China will cut the guaranteed subsidised prices paid for electricity supplied to its national grid by newly built large-scale solar power plants and onshore wind turbines starting Jan. 1, the country’s state planner said in a statement on Monday.

BILFINGER

Indicated 0.1 percent lower

The industrial services group is cutting headcount at its headquarter to around 220 from around 280 as part of its reorganisation, Chief Executive Thomas Blades told German daily Mannheimer Morgen in an interview.

OVERSEAS STOCK MARKETS

Dow Jones +0.1 pct, S&P 500 +0.1 pct, Nasdaq unchanged at close.

Nikkei unchanged, Shanghai stocks -0.2 pct.

Time: 7.10 GMT.

GERMAN ECONOMIC DATA

No economic data scheduled.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Maria Sheahan and Ludwig Burger)

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