March 5, 2012 / 6:13 AM / 5 years ago

German stocks - Factors to watch on March 5

3 Min Read

FRANKFURT, March 5 (Reuters) - The DAX top-30 index looked set to open 0.6 percent lower on Monday, according to premarket data from brokerage Lang & Schwarz at 0730 GMT.

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

Deutsche Bank

Deutsche Bank indicated 0.8 pct lower

Germany's banks have taken less than 10 percent of the 530 billion euros of cheap funding provided by the European Central Bank (ECB) this week, Die Welt reported on Monday.

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Commerzbank

Indicated 0.1 pct higher

The German lender said a portion of a silent participation held by The German Financial Market Stabilisation Fund will be converted into new shares, resulting in the strengthening of its core tier 1 capital through 2017 by post-tax about 1.2 billion euros.

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Eads

Indicated 0.1 pct higher in Frankfurt

The European aerospace and defence group is considering doing without part of a development loan for its Airbus unit worth 500 million euros from the German government as a row bubbles over the group moving operations from Germany, FAZ reported.

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Daimler

Indicated 0.5 pct lower

The group's Mercedes brand is planning to increase production of its new B-class compact car due to high demand, Mercedes' sales chief Joachim Schmidt told Automobilwoche.

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Audi

Volkswagen indicated 0.7 pct lower

Audi will invest 3 billion euros in China to double its dealership network, China head Dietmar Voggenreiter told WirtschaftsWoche, adding that Audi hopes to grow faster than the Chinese market's predicted growth of 8-10 pct this year.

Related news

Salzgitter

Indicated 0.3 pct lower

The German steelmaker said repeating last year's performance in 2012 would be challenging after posting a pretax profit of 201.6 million euros, which was ahead of expectations.

Related news

Gagfah

Indicated 18.3 pct higher

Gagfah and the city of Dresden have agreed to a 40 million euro settlement of a legal dispute in which the city had demanded penalties of more than 1 billion euros from the real estate group, Gagfah said on Friday.

Related company news

Overseas Stock Markets

Dow Jones -0.02 pct, S&P 500 -0.3 pct, Nasdaq -0.4 pct at Friday's close.

Nikkei -0.8 pct at Monday's close.

Analysts' Views

HEIDELBERGCEMENT - ING has cut the stock to 'hold' from 'buy'.

PROSIEBENSAT 1 - Berenberg has cut the stock to 'hold' from 'buy'.

German Economic Data

February services PMI due at 0853 GMT. Seen at 52.6.

European Factors to Watch

Diaries

REUTERS TOP NEWS ($1 = 0.7573 euros) (Reporting by Victoria Bryan, Jonathan Gould and Harro Ten Wolde)

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