January 2, 2017 / 6:17 AM / 7 months ago

German stocks - Factors to watch on January 2

3 Min Read

FRANKFURT/BERLIN, Jan 2 (Reuters) - The DAX top-30 index looked set to open 0.5 percent lower on Monday, according to premarket data from brokerage Lang & Schwarz at 0708 GMT.

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

Bmw

Indicated 0.4 percent lower

Production of battery cells is a strategic option for the luxury carmaker but none that will be realized in the next three years, Chief Executive Harald Krueger told Boersen-Zeitung.

Deutsche Bank

Indicated 0.6 percent lower

Chairman Paul Achleitner has ruled out a pan-European merger or a state bailout in the wake of the lender's mortgage settlement with the U.S. Department of Justice, Frankfurter Allgemeine Sonntagszeitung reported.

Deutsche Telekom

Indicated 0.6 percent lower

Deutsche Telekom has struck a financing agreement with its U.S. subsidiary T-Mobile US as part of which it will provide the firm with $2.5 billion of credit in two tranches. It is also providing a secured loan of $660 million.

e.on

Indicated unchanged

The German utility plans to cut administrative jobs as part of efforts to reduce costs by 400 million euros, Chief Executive Johannes Teyssen told newspaper Rheinische Post.

Rwe

Indicated unchanged

RWE will be able to pay the 6.8 billion euros ($7.15 billion) requested by the government to fund the costs of storing nuclear waste in one lump sum by the middle of 2017, newspaper Die Welt reported, citing the firm's chief executive.

Volkswagen

Indicated 0.3 percent lower

The carmaker still hopes to reach a criminal settlement on its emissions scandal with the U.S. Department of Justice before the Obama administration leaves on Jan. 20, Bild am Sonntag reported, without citing the source of the information.

Constantin Medien

Indicated 2.9 percent lower

Highlight Communications

Highlight Communications said its general meeting on Friday rejected a dividend payment to shareholders for the 2015 business year and refused to re-elected Constantin Medien Chairman Dieter Hahn to its board of directors.

Overseas Stock Markets

Dow Jones -0.3 pct, S&P 500 -0.5 pct, Nasdaq -0.9 pct at close.

Japanese markets closed, Chinese markets closed.

Time: 7.07 GMT.

German Economic Data

German December Markit manufacturing PMI due at 0855 GMT. Seen flat at 55.5 points.

European Factors to Watch

Diaries

REUTERS TOP NEWS (Reporting by Maria Sheahan, Andreas Cremer and Edward Taylor)

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