Thursday October 29, 07:44 AM
German stocks - Factors to watch on October 29
FRANKFURT, Oct 29 (Reuters) - The DAX top-30 index looked set to open 0.4 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):
DEUTSCHE BANK (Xetra: 514000 - news)
Indicated 1 percent lower
Germany's largest bank reported third-quarter credit losses of 544 million euros ($807.1 million), lower than the 762 million euros in credit losses expected from a Reuters poll. The bank said its tier one capital ratio as of end September was 11.7 percent.
On Wednesday the bank's CFO said there was no need for capital hike to finance its Sal. Oppenheim takeover.
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LUFTHANSA
Indicated 0.7 percent lower
Germany's largest airline provided a gloomy outlook for the airline industry on Thursday, saying the market environment remained very difficult. It also said it was still too early to give the all-clear for the air cargo industry as revenue in the division was still falling steeply.
HENKEL (Xetra: 604840 - news)
Indicated 0.2 percent lower
Henkel reported a 1.5 percent dip in third-quarter adjusted operating profit and said it expected earnings to weaken in the fourth quarter.
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SAP
Indicated 1.4 percent lower
Chief Executive Leo Apotheker is confident that customer numbers will reach the 100,000 mark next year, he tells the Frankfurter Allgemeine Zeitung. SAP (Xetra: 716460 - news) 's sales chief tells Reuters that customers are buying less software up front.
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VOLKSWAGEN (Xetra: 766400 - news)
Indicated 0.7 percent higher
Q3 results. Europe's largest carmaker is expected to post third-quarter operating profit of 415 million euros, down 72.1 percent. Poll:
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BASF
Indicated 2.6 percent lower
The world's largest chemicals maker reported third-quarter net profit of 237 million euros, below estimates of 401 million euros. Poll
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MAN
Indicated 0.6 percent lower
The heavy truckmaker reported a third-quarter operating profit of 134 million euros, slightly better than expectations of 103 million euros. Poll:
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CONTINENTAL (Frankfurt: A0XFTR - news)
Indicated 1.8 percent lower
The Financial Times Deutschland reports that the automotive supplier saw adjusted earnings before interest and tax (EBIT) improve to 400 million euros in the third quarter, though writedowns pushed it to a big net loss. The paper, which did not cite a source, also said Continental planned a 1-1.5 billion euro capital increase in the first quarter.
Continental was not immediately available for comment late on Wednesday. It had been expected to report a 12.9 percent fall in adjusted EBIT to 298 million euros. Poll
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EADS (EAD.NX - news)
Indicated 0.2 percent higher
Northrop Grumman Corp (NYSE: NOC - news) , which is partnered with Europe's EADS left open the possibility it might boycott the Pentagon's multibillion-dollar aerial tanker competition, faulting draft bidding rules and expanding a complaint that rival Boeing Co (NYSE: BA - news) had been given an unfair edge.
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SUEDZUCKER
Indicated 1.1 percent higher
The company said it was maintaining its 2009/10 forecast despite unfavourable conditions that were making the forecast harder to achieve. Its CropEnergies unit cut planned production for the current quarter due to unscheduled repairs at a new plant in Belgium.
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GEA GROUP (Xetra: 660200 - news)
Indicated 0.2 percent lower
The food processing and energy specialist company said its third-quarter EBITDA before restructuring expenses was 112 million euros versus 95 million euros. Poll:
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KRONES
Indicated 0.4 percent lower
The packaging and bottling machine manufacturer reported a third-quarter net loss of 9.4 million euros, slightly largely than the 8.8 million euro net loss which was expected. Poll:
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RHOEN-KLINIKUM
Indicated unchanged
The hospital operator reported a 8.9 percent rise in net profit over the first nine months to 97.1 million euros and refined its guidance for 2009 and 2010. Poll
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AIXTRON
Indicated 5 percent lower
The technology company announced a capital increase of up to 8.9 million new shares and upped its 2009 guidance as it reported a third-quarter net income of 11.6 million euros, beating expectations of 7.5 million euros. Poll:
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KWS SAAT (Dusseldorf: KWS.DU - news)
The seed specialist said net profit for 2008/09 business year was 50.1 million euros.
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TAKKT
The business-to-business mail order company posted third-quarter earnings before interest, tax, depreciation and amortisation of 15.7 million euros, slightly below expectations of 16.9 million euros.
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GERMAN ECONOMIC DATA
German October unemployment is seen at 8.3 percent or around 3.3 million as 20,000 people join the jobless ranks. Figures due at 1000 GMT.
OVERSEAS STOCK MARKETS
Dow Jones (news) -1.2 pct, S&P 500 -2 pct, Nasdaq (NASDAQ: news) -2.7pct at Wednesday's close
Nikkei (news) -1.8 pct.
European Factors to watch
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(Reporting by Jonathan Gould and Tyler Sitte) ($1=.6740 Euro)
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