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German stocks - Factors to watch on September 30
September 30, 2016 / 6:06 AM / a year ago

German stocks - Factors to watch on September 30

FRANKFURT, Sep 30 (Reuters)

The DAX top-30 index looked set to open 1.5 percent lower on Friday, according to premarket data from brokerage Lang & Schwarz at 0639 GMT. The following are some of the factors that may move German stocks:

BAYER

Indicated down 1.4 percent

Achim Wambach, head of Germany’s Monopolies Commission, tells the Rheinische Post he expects Bayer’s bid to buy Montsanto to face many months of anti-trust proceedings, saying it is likely that it will only be approved after disposals.

COMMERZBANK

Indicated down 2.3 percent

Markus Beumer, who leads Commerzbank’s flagship corporate lending business with Germany’s medium-sized “Mittelstand” companies, will leave the bank by the end of October as his unit will be split up, an industry source told Reuters.

DEUTSCHE BANK

Indicated down 5.9 percent

Deutsche Bank admitted it had an image problem with investors as fresh concerns over the stability of Germany’s largest lender pushed its U.S.-listed shares to a record low. JP Morgan said any settlement higher than $4 billion with the U.S. Department of Justice over its sale of mortgage-backed securities would mean that Deutsche Bank’s current reserves would not be enough and it would have to replenish reserves, putting capital at risk.

VOLKSWAGEN

Indicated down 1.2 percent

Czech division Skoda said it will assess the possibility of building cars in the United States as it considers selling in the world’s second largest auto market where its parent continues to grapple with an emissions scandal.

Porsche said it will be targeting younger buyers with a new model of its redesigned Panamera sedan, as the sports carmaker continues to branch out from its racing roots.

AIRBUS

Down 1.4 percent in Frankfurt trading

Airbus Group said on Friday it would merge with its planemaking unit and simplify its brand and management structure, marking a break with its complex corporate roots as it prepares for tougher expected competition.

BILFINGER

Indicated down 1.4 percent

Bilfinger will remain under compliance monitoring by the U.S. Department of Justice for another two years, several German media reported.

LANXESS

Indicated down 2.4 percent

Lanxess said it had successfully placed two 500 million-euro corporate bonds.

OSRAM

Up 3.8 percent in Frankfurt trading

Several Chinese companies are interested in buying lighting company Osram, German daily Handelsblatt reports.

TLG IMMOBILIEN

Indicated down 0.1 percent

TLG Immobilien bought two adjoining shopping centres in Dresden.

ROCKET INTERNET

Down 2 percent in Frankfurt trading

Delivery Hero, in which Rocket Internet has a 37 percent stake, should reach profitability by the end of 2016, potentially leading to an initial public offering (IPO), CEO Niklas Ostberg told WirtschaftsWoche.

OVERSEAS STOCK MARKETS

Dow Jones -1.1 pct, S&P 500 -0.9 pct, Nasdaq -0.9 pct at close.

Nikkei -1.5 pct, Shanghai stocks +0.1 pct.

Time: 6.43 GMT.

GERMAN ECONOMIC DATA

German August retail sales fell 0.4 pct m/m, rose 3.7 pct y/y.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Ludwig Burger and Georgina Prodhan)

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