Wednesday November 18, 07:40 AM
German stocks - Factors to watch on November 18
FRANKFURT, Nov 18 (Reuters) - The DAX top-30 index looked set to open 0.7 percent higher on Wednesday, according to premarket data from brokers at 0713 GMT.
The following are some of the factors that may move German stocks on Thursday (share price indications at 0708 GMT):
BAYER (Berlin: BAY1.BE - news)
Indicated 0.2 percent higher
The U.S. Food and Drug Administration said a staff review found the higher risk of the skin disease associated with the use of the drug maker's contrast agents used with magnetic resonance imaging scans. The organisation said Bayer (Xetra: 575200 - news) 's product Magnevist along with GE Healthcare's Omniscan and Covidien (Frankfurt: A0RNL3 - news) 's Optimark (MLOPM.NX - news) appeared to have a higher risk of the skin disease than other competing products.
Separately, Bloomberg cited International Petroleum Investment's (IPIC) Managing Director Khadem al-Qubaisi as saying he was discussing possible joint ventures with companies including Bayer's MaterialScience division, saying he was misinterpreted in a report in chemicals trade publication ICIS that IPIC was planning takeovers.
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COMMERZBANK
Indicated 1.3 percent higher
Germany's second-largest bank wants to overtake Deutsche Bank (Xetra: 514000 - news) as the leading manager of private wealth in Germany, the head of the unit told Die Welt newspaper.
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DEUTSCHE TELEKOM (Xetra: 555750 - news)
Indicated 0.2 percent higher
An employee of Deutsche Telekom's British mobile phone unit T-Mobile UK is facing prosecution after selling personal details of thousands of British customers to rival companies in an alleged major breach of data protection laws. In a statement T-Mobile UK said it had contacted the Information Commissioner's Office (ICO (NASDAQ: ICOC - news) ) after discovering an employee was passing on the information and it believed the investigation would result in a prosecution.
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BANKS
Banks and insurance companies remain in the spotlight on the third day of the annual Euro Finance Week event, as bankers and regulators gather in Germany's financial hub in Frankfurt this week. On agenda for Wednesday are events concerning the insurance industry.
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HOCHTIEF
Indicated 0.6 percent higher
The German construction company is expected to put out on Thursday the prospectus for listing its Concessions infrastructure unit, a source close to the situation told Reuters.
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AIRLINES LUFTHANSA, AIR BERLIN (Xetra: AB1000 - news)
Lufthansa (Xetra: 823212 - news) indicated 1.4 percent higher
Berlin plans to become one of Europe's ten busiest airports and take traffic away from rivals by replacing its existing airports with one main hub, the chief executive of Berlin Airports told Reuters on Tuesday. Lufthansa, Air Berlin and EasyJet (LSE: EZJ.L - news) are the main customers at the moment with a market share of around 70 percent of the around 21 million passengers that go through the city's airports every year.
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DEUTSCHE POST (Xetra: 555200 - news)
Indicated 0.6 percent higher
The German government is working on plans to scrap the postal services company's value-added tax exemption on letters sent by large companies, Financial Times Deutschland reported, citing documents it obtained.
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BILFINGER BERGER
Indicated 0.5 percent higher
The construction company plans to use proceeds from the planned IPO (IPOA.NX - news) of its Australian unit to fund growth at its services business, CEO Herbert Bodner told Boersen-Zeitung.
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AIR BERLIN
Indicated 8.3 percent higher
Q3 EBIT beat market expectations and it kept its 2009 outlook.
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OVERSEAS STOCK MARKETS
Dow Jones (news) +0.3 pct, S&P 500 +0.1 pct, Nasdaq (NASDAQ: news) +0.3 pct at Tuesday's close.
Nikkei (news) -0.55 pct.
GENERAL MOTORS (NYSE: GM - news) ' OPEL
The U.S. carmaker could cut between 9,000 and 10,000 jobs as part of a restructuring of its European operations, Nick Reilly, interim head of GM's European business, said on Tuesday. The company must reduce its production across Europe by between 20 and 25 percent as part of the 3.3 billion euro ($4.9 billion) plan, he told a news conference in London.
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MACROECONOMY
European Central Bank president Jean-Claude Trichet speaks at a Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) event in Frankfurt.
European Factors to watch
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(Reporting by Tyler Sitte) Keywords: MARKETS GERMANY STOCKS =3 FRANKFURT
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