FRANKFURT/BERLIN, June 6 (Reuters) - The DAX top-30 index looked set to open 0.1 percent higher on Wednesday, according to premarket data from brokerage Lang & Schwarz at 0620 GMT.
The following are some of the factors that may move German stocks:
Indicated 0.6 percent higher
The lender’s sale of its British insurer Abbey Life Assurance Co is facing delays as bidders struggle to decide on a valuation due to an investigation by Britain’s financial watchdog into the firm, sources familiar with the matter said.
Commerzbank indicated 0.8 percent higher
The European Central Bank has urged German state-owned lender Bremer Landesbank to shore up its capital against non-performing shipping loans, sources said, although the bank dismissed that as “wrong”.
Deutsche Boerse indicated 0.3 percent higher
Schaeffler indicated 2.1 percent higher in early Frankfurt trade
Wincor Nixdorf indicated 0.2 percent lower
Car parts supplier Schaeffler AG is seen climbing into the country’s mid cap index MDAX, trading places with ATM maker Wincor Nixdorf, the stock exchange operator said on Friday evening. The changes will come into effect on June 20.
The carrier is nearing a “last-ditch deadline” at the end of June to resolve areas of dispute in mediation with cabin crew union UFO, union director Nicoley Baublies wrote on Sunday on Facebook.
Indicated 0.1 percent lower
The pharmaceutical company said it will team up with Array BioPharma and France’s Pierre Fabre to start a clinical trial of BRAF-mutant metastatic colorectal cancer.
Indicated 0.2 percent lower
The industrial group said it aims to restructure its naval business after losing out on a $40 billion Australian defence contract to French rival DCNS.
Indicated 0.8 percent lower
The industrial robot maker would assess a possible European takeover bid but it is wrong to assume such an offer would take priority over the bid by China’s Midea Group Co Ltd’s , Chief Executive Till Reuter told Frankfurter Allgemeine Sonntagszeitung.
Indicated 0.5 percent higher
The generic drugmaker has replaced its long-time chief executive, Hartmut Retzlaff, who is seriously ill, the company said on Sunday.
No indication available
The operator of digital marketplaces will next year discuss possible dividend payments and would welcome the free float of the stock to rise to 100 percent, finance chief Christian Gisy told Boersen-Zeitung in an interview on Saturday.
German airport Hahn, mainly in use by low cost airline Ryanair, is to be sold to a non-disclosed Chinese investor who acquired 82.5 percent of the stakes in the publicly held airport near Frankfurt, dpa reported. Further details are expected at a press conference throughout the day.
BAYER - Berenberg leaves “BUY” rating unchanged, cuts target price to 113 euros from 125 euros
DEUTSCHE BANK - Goldman Sachs leaves “NEUTRAL” rating unchanged, cuts target price to 9 euros from 9.15 euros
Dow Jones -0.2 pct, S&P 500 -0.3 pct, Nasdaq -0.6 pct at close.
Nikkei -0.37 pct, Shanghai stocks -0.43 pct.
Time: 6.20 GMT.
German April industrial orders fell by 2 percent in April, the country’s economy ministry reported on Monday.
REUTERS TOP NEWS (Reporting by Tina Bellon and Andreas Cremer)