Friday July 3, 07:33 AM
German stocks - Factors to watch on July 3
FRANKFURT, July 3 (Reuters) - The DAX top-30 index looked set to open 0.3 percent higher on Friday, according to pre-market data from brokers at 0610 GMT.
Factors that may move German stocks on Friday:
SIEMENS
Indicated 0.4 percent higher
Siemens Industry Solutions sees the decline in new orders slowing, division head Jens Michael Wegmann told German newspaper Frankfurter Allgemeine Zeitung.
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E.ON
Indicated 0.6 percent higher
E.ON is considering cutting up to 300 of 1,900 administrative jobs, labour sources close to the company told Reuters.
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DEUTSCHE TELEKOM (Xetra: 555750 - news)
Indicated 0.4 percent higher
France Telecom (Paris: FR0000133308 - news) 's CFO Gervais Pellissier told Reuters the company was not interested in buying Deutsche Telekom's T-Mobile UK division.
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SAP
Indicated 0.4 percent higher
Oracle Corp plans to lay off up to 1,000 workers in Europe, or about 1 percent of its global staff, French news agency AFP reported. An Oracle spokeswoman declined to comment.
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VOLKSWAGEN (Xetra: 766400 - news)
Indicated 0.2 percent lower
Israel Chemicals Ltd (ICL) and Volkswagen have reached a compromise over VW's demand to pull out of their partnership in Dead Sea Magnesium, the Israeli company said. VW will stream $30 million to the troubled magnesium plant and transfer its 35 percent stake in the company to ICL, which owns the other 65 percent.
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DEUTSCHE BOERSE (Xetra: 581005 - news)
Indicated 1.1 percent higher
The European Commission will publish on Friday its policy proposals on how to make the EU's derivatives market safer, with a focus on centrally clearing trades, a senior official said.
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HOCHTIEF
Indicated unchanged
The Panama Canal Authority will open bids for the largest contract in the canal's $5.25 billion expansion on July 8. A winner will not be immediately announced as the authority intends to vet the bids for several weeks. Hochtief (Xetra: 607000 - news) is part of one of the three bidding groups.
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EADS (Paris: NL0000235190 - news)
Indicated 0.3 percent higher in Frankfurt
For the year to date at June 30, Boeing Co (NYSE: BA - news) had 85 gross orders and 84 cancellations, for a net total of one plane for 2009. Boeing delivered 125 commercial aircraft during the second quarter, bringing total deliveries to 246 for the year to date.
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KLOECKNER & CO
Indicated 0.8 percent lower
S&P revised its outlook on Kloeckner & Co to negative from stable, saying the change reflected expectations of continued tough trading conditions for the steel sector near term and Kloeckner's relatively high adjusted debt.
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ARCANDOR (Xetra: 627500 - news)
Indicated 4.8 percent higher
Fitch downgraded the long-term issuer default rating of Sal. Oppenheim, a large shareholder in Arcandor, to 'A-' from 'A,' maintaining rating watch negative.
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ANNUAL GENERAL MEETINGS
Baader Bank (Xetra: 508810 - news) , proposed dividend 0.06 eur/shr
OVERSEAS STOCK MARKETS
Dow Jones (news) -2.6 pct, S&P 500 -2.9 pct, Nasdaq (NASDAQ: news) -2.7 pct. (U.S. markets will be closed on Friday)
Nikkei (news) -0.6 pct.
GERMAN BAD BANKS
The Bundestag lower house of parliament is due to vote on the plan to establish 'bad banks' allowing lenders to shift billions of euros of troubled assets off their books.
GM (NYSE: GM - news) , OPEL
Chinese state-owned automaker Beijing Automotive (BAIC) will unveil an improved nonbinding offer for Opel on Friday, German newspaper Frankfurter Allgemeine Zeitung reported, citing sources close to BAIC.
GERMAN ECONOMIC DATA
June services PMI due at 0753 GMT; seen at 44.3 vs 45.2 in May.
European Factors to watch
Diaries
Reuters Top News
(Reporting by Jonathan Gould and Peter Starck) Keywords: MARKETS GERMANY STOCKS/ =3 FRANKFURT
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