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German stocks - Factors to watch on June 13
June 13, 2017 / 5:29 AM / in a month

German stocks - Factors to watch on June 13

3 Min Read

BERLIN/FRANKFURT, June 13 (Reuters) - The DAX top-30 index looked set to open 0.4 percent higher on Tuesday, according to premarket data from brokerage Lang & Schwarz at 0612 GMT.

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

Basf, Bayer

BASF indicated 0.4 percent higher

Bayer indicated 0.5 percent higher

BASF and Syngenta are among companies that have submitted preliminary bids for assets that Bayer intends to sell to get regulatory approval for its $66 billion takeover of seeds giant Monsanto Co., Bloomberg reported on Monday, citing people familiar with the matter.

Bayer

A federal jury has cleared Bayer and partner Johnson & Johnson of liability in the second trial to stem from thousands of lawsuits blaming injuries on the blood thinner Xarelto.

Deutsche Bank

Indicated 0.7 percent higher

Deutsche Bank will pay $170 million to settle an investor lawsuit claiming it conspired with other banks to manipulate the benchmark European Interbank Offered Rate and related derivatives.

Volkswagen

Indicated 0.3 percent higher

South Korean battery maker LG Chem Ltd denied a media report that it has signed a 7 trillion won ($6.20 billion) deal to supply electric vehicle batteries for Volkswagen.

A Dutch group representing 180,000 Volkswagen vehicle owners said it was preparing a claim against the automaker over the company's use of software designed to conceal diesel nitrogen oxides emissions.

Fraport

Indicated 0.2 percent lower

Frankfurt airport passenger numbers were up 5.7 percent year-on-year in May, while cargo up 5.1 percent

Symrise

Indicated 0.2 percent lower

The fragrance and flavours maker is issuing a 400 million euro convertible bond to refinance existing debt.

Zalando

Indicated 1.1 percent higher

The company said it planned to buy back 17,000 shares for an employee incentive programme.

Overseas Stock Markets

Dow Jones -0.2 pct, S&P 500 -0.1 pct, Nasdaq -0.5 pct at close.

Nikkei -0.1 pct, Shanghai stocks +0.3 pct.

Time: 5.25 GMT.

German Economic Data

German wholesale prices for May rose 3.1 percent year-on-year.

German ZEW sentiment index for June due at 0900 GMT. Economic sentiment seen at 21.5, current conditions at 85.

European Factors to Watch

Diaries

REUTERS TOP NEWS (Reporting by Victoria Bryan and Ludwig Burger)

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