Monday, February 24, 2014

German stocks - Factors to watch on February 24

FRANKFURT Mon Feb 24, 2014 1:14am EST





<span id="articleText"/>FRANKFURT Feb 24 (Reuters) - The following are some of the factors that may move German stocks on Monday:



<span id="midArticle_0"/><span id="midArticle_1"/>VOLKSWAGEN



<span id="midArticle_2"/>The carmaker plans to buy out minority shareholders of Swedish trucks division Scania for 6.7 billion euros ($9.21 billion), which will be partly financed by issuing new preference shares and hybrid capital.



<span id="midArticle_3"/>Separately, the United Auto Workers filed an appeal with the U.S. government on Friday, asking it to set aside the results of an election last week where workers at a Tennessee Volkswagen plant voted not to join the union.



<span id="midArticle_4"/>Also, Germany's Federal Motor Transport Authority (KBA) is examining two incidents in which Porsche 911 GT3 cars caught fire, daily newspaper Bild reported, citing a KBA spokesman.



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<span id="midArticle_6"/><span id="midArticle_7"/>BAYER



<span id="midArticle_8"/>Bayer's takeover offer for Algeta ASA is due to end on Monday.



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<span id="midArticle_10"/><span id="midArticle_11"/>DEUTSCHE BANK



<span id="midArticle_12"/>Deutsche Bank has laid out plans to reduce its U.S. balance sheet as the U.S. Federal Reserve adopts new rules to shield the country's taxpayers from costly bailouts, the Financial Times reported on Sunday.



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<span id="midArticle_14"/><span id="midArticle_15"/>RWE, EON



<span id="midArticle_0"/>Germany's utilities should pool their struggling hard coal plants into a joint entity, the head of a labour union said, in a bid to save jobs and reduce costs as a rise in renewables has driven many conventional power plants into loss.



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<span id="midArticle_2"/><span id="midArticle_3"/>AIRBUS



<span id="midArticle_4"/>Airbus will demand the German defence ministry pay a three-digit-million euro sum for cancelling its planned purchase of Eurofighter jets, Der Spiegel magazine said on Sunday, citing unnamed sources.



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<span id="midArticle_6"/><span id="midArticle_7"/>OSRAM



<span id="midArticle_8"/>Osram has not held any talks with Siemens over whether and when the engineering group may cut its stake in the lighting maker from currently close to 20 percent, Sueddeutsche Zeitung quoted Osram Chairman Peter Bauer as saying in an interview published on Monday.



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<span id="midArticle_10"/><span id="midArticle_11"/>H&R



<span id="midArticle_12"/>2013 results due.



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<span id="midArticle_14"/><span id="midArticle_15"/>CEWE



<span id="midArticle_0"/>The photofinishing company will increase its dividend for the 2013 business year if the macroeconomic conditions are favourable, Chief Financial Officer Olaf Holzkaemper told Euro am Sonntag newspaper on Saturday.



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<span id="midArticle_2"/><span id="midArticle_3"/>ANALYSTS' VIEWS



<span id="midArticle_4"/>VOLKSWAGEN - Barclays cuts the stock to "equal weight" from "overweight", lowers its target price to 202 euros from 225 euros.



<span id="midArticle_5"/>QSC - JP Morgan raises the stock to "overweight" from "neutral".



<span id="midArticle_6"/><span id="midArticle_7"/>OVERSEAS STOCK MARKETS



<span id="midArticle_8"/>Dow Jones -0.2 pct, S&P 500 -0.2 pct, Nasdaq -0.1 pct at Friday's close.



<span id="midArticle_9"/>Nikkei -0.2 pct at Monday's close.



<span id="midArticle_10"/><span id="midArticle_11"/>GERMAN ECONOMIC DATA



<span id="midArticle_12"/>German Ifo index for February due at 0900 GMT. Business climate index seen unchanged at 110.6, current conditions at 112.8 vs 112.4 and expectations at 108.2 vs 108.9.



<span id="midArticle_13"/><span id="midArticle_14"/><span id="midArticle_15"/>EUROPEAN FACTORS TO WATCH



<span id="midArticle_0"/>DIARIES



<span id="midArticle_1"/>REUTERS TOP NEWS ($1 = 0.7275 euros) (Reporting by Maria Sheahan and Marilyn Gerlach)



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