August 29, 2013 / 5:22 AM / 4 years ago

German stocks - Factors to watch on August 29

FRANKFURT, Aug 29 (Reuters) - The DAX top-30 index looked set to open 0.1 percent higher on Thursday, according to premarket data from brokerage Lang & Schwarz at 0625 GMT.

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


Deutsche Telekom indicated 0.8 percent higher

Telefonica Deutschland indication not available

EU telecoms chief Neelie Kroes has scrapped a draft proposal to cut wholesale roaming fees by as much as 90 percent, a European Commission document seen by Reuters showed, following criticism from major telecom companies.

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ThyssenKrupp indicated 0.6 percent higher

EADS indicated 0.3 percent higher in Frankfurt

The Krupp Foundation, a philanthropic body which controls key appointments at Germany’s ThyssenKrupp, said it had appointed scientist Ursula Gather to succeed the late patriarch Berthold Beitz as its head.

Separately, Atlas Elektronik, a joint-venture company between EADS and ThyssenKrupp, has dropped plans for developing torpedoes together with France’s DCNS, Germany’s Die Welt said, citing industry sources.

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Indicated 0.3 percent higher

Allianz is planning to outsource a big part of its data processing to an external service provider and is in negotiations with IBM and Computer Sciences Corporation (CSC), with CSC being the frontrunner, Sueddeutsche Zeitung reported on Thursday, citing no sources.

The paper said the deal could have a volume of significantly more than 500 million euros ($667 million).

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Indicated 0.1 percent higher

Business at Frankfurt airport was “very good” in August, while reservations for the winter were modestly positive, the airport operator’s Chief Executive Stefan Schulte told German newspaper Boersen-Zeitung.

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Indicated 1.0 percent lower

The German maker of cutting machine tools said on Wednesday it would offer 15.4 million new shares, increasing its share capital by 40 million euros.

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Indicated 0.4 percent higher

The company said its second-quarter pre-tax profit rose 7.1 percent to 45.2 million euros.

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Dow Jones +0.3 pct, S&P 500 +0.3 pct, Nasdaq +0.4 pct at Wednesday’s close.

Nikkei +0.9 pct at Thursday’s close.


August unemployment data due at 0755 GMT. Seen at 2.9 million, unchanged vs prior month.

Aug HICP due at 1200 GMT. Seen at 1.7 pct y/y compared to 1.9 pct last year, and at 0.1 pct m/m from 0.4 pct in July.

Aug. German CPI due at 1200 GMT. Seen at 0.1 pct m/m vs 0.5 pct in July, and at 1.7 pct y/y from 1.9 pct in August last year.



REUTERS TOP NEWS ($1 = 0.7496 euros) (Reporting by Edward Taylor, Harro ten Wolde and Christoph Steitz)

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