Thursday July 2, 07:45 AM
German stocks - Factors to watch on July 2
FRANKFURT, July 2 (Reuters) - The DAX top-30 index looked set to open 0.8 percent lower on Thursday, according to premarket data from brokers at 0607 GMT. The following are some of the factors that may move German stocks on Thursday: (share price indications at 0607 GMT)
VOLKSWAGEN (Xetra: 766400 - news)
Indicated 1.2 percent lower
The automaker reported an 18 percent drop in U.S. sales to 19,027 vehicles at its VW brand in June, mitigated in large part by demand for its new Passat CC and Chrysler (Xetra: 710000 - news) -built Routan minivan as well as its diesel-powered Jetta estate that partly compensated for sharp drop in sales in other models.
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BMW
Indicated 0.4 percent lower
The automaker said its U.S. sales fell by 20 percent in June to 20,849 vehicles, with virtually identical rates of volumes declines at both its BMW (Xetra: 519000 - news) and Mini brands, leaving sales of just 16,744 and 4,105 vehicles respectively.
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DAIMLER
Indicated 1.1 percent lower
The automaker's Mercedes-Benz brand incurred a 23 percent decline in U.S. sales to 15,155 vehicles, its Smart (SMAR.JK - news) brand of pint-sized cars sank 56 percent to just 1,116 units.
Separately, Daimler CEO Dieter Zetsche told Die Welt the company cannot slow down its efforts to cut costs next year despite an expected improvement in markets.
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PORSCHE
Indicated unchanged
Vehicle sales plummeted 62 percent to 1,072 vehicles last month in the U.S. market, its biggest, as demand evaporated for its luxury sports utility vehicle Cayenne.
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DEUTSCHE TELEKOM (Xetra: 555750 - news)
Indicated 0.7 percent lower
Spain's Telefonica (Madrid: BTEF.MC - news) is looking at the case for buying Deutsche Telekom's British mobile phone operator T-Mobile UK, the Financial Times reported on Thursday, citing people familiar with the situation. The German telecom is looking at all options for its UK arm but a source told Reuters on Monday that no decision was imminent.
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BAYER AG (Xetra: 575200 - news)
Indicated 0.3 percent lower
The pharma company said it filed a patent infringement lawsuit in the U.S. federal court against Teva concerning Teva's application to the FDA for approval of a generic form of Levitra on which Bayer has a U.S. patent that expires in 2018.
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LUFTHANSA
Indicated 0.2 percent lower
The airline said it was 'confident' it could complete its takeover of Austrian Airlines (Vienna: 675054.VI - news) after the European Commission extended its review of the deal, throwing a spanner into the German carrier's plans.
Separately, peer Air France (Paris: FR0000031122 - news) first-quarter sales have fallen sharply, calling into question the airline's target for a 2009/10 operating loss of 129 million euros, French newspaper La Tribune reported.
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E.ON
Indicated 1.0 percent lower
EU antitrust head Neelie Kroes accused E.ON and Gaz de France of serious misconduct in allegedly carving up gas markets, days before she is expected to rule on the case. The two companies face possible fines if found by Kroes to have violated EU anti-cartel rules. The comments were among her clearest public statements on the case since the European Commission announced charges against the two firms last year.
DEUTSCHE BOERSE (Xetra: 581005 - news)
Indicated 0.8 percent lower
Frankfurt's stock exchange operator said turnover on its electronic order book Xetra fell 50 percent in June to 81.7 billion euros ($115 billion). Derivatives platforms Eurex and ISE had an average daily volume of 10.7 million contracts in June, down from roughly 13.3 million per day during the same period a year ago.
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ALLIANZ
Indicated 1.2 percent lower
The insurer will launch its first Islamic annuity product next year, the head of its Takaful unit said, tapping into a growing number of clients in the Middle East keen to add to their state pensions.
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CELESIO AG (Xetra: CLS100 - news)
Indicated 0.6 percent lower
Celesio said its chief executive and chairman would jointly pursue the German drug distributor's foray into the Brazilian market, smoothing over differences that had emerged between the two.
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DELTICOM
No indication available
The online tyre distributor raised it EBIT margin target to over 7 percent from its previous guidance from around 6 percent.
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HORNBACH
Indicated 0.5 percent higher
The do-it-yourself chain operator reports first-quarter earnings on Thursday.
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EX-DIVIDEND
INDUS (Xetra: 620010 - news) , pays out dividend of 0.80 euros/share
MACROECONOMY
The European Central Bank is expected to keep euro zone interest rates unchanged on Thursday, say it sees faint signs of economic recovery, and fill in some of the missing details of its unorthodox plan to buy bonds.
OVERSEAS STOCK MARKETS
Dow Jones (news) +0.7 pct, S&P 500 +0.4 pct, Nasdaq (NASDAQ: news) +0.6 pct.
Nikkei (news) -0.43 pct at 0505 GMT
European Factors to watch
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General Motors (NYSE: GM - news) ' OPEL
Chinese carmaker Beijing Automotive Industry Holding Co plans to present a detailed bid for General Motors Corp's Opel unit in the next few days, the Wall Street Journal reported, citing a person familiar with the matter.
Separately, the head of Opel's works council Klaus Franz said GM is trying to heat up speculation about rival offers. 'I am unaware of any new offer or new suitor,' he is quoted as saying in Germany's Bild mass daily.
(Reporting by Tyler Sitte) ($1=.7107 Euro) Keywords: MARKETS GERMANY STOCKS =3 FRANKFURT
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