Newswire

German stocks - Factors to watch on July 29

BERLIN/FRANKFURT, July 29 (Reuters) - The following are some of the factors that may move German stocks on Monday:

SIEMENS

Chief Executive Peter Loescher is to leave the company four years before the end of his contract, after the engineering group last week issued its second profit warning this year.

Siemens said Loescher's early exit will be decided at a meeting of the supervisory board on July 31 and that a management board member will be picked as successor.

Separately, the company is probing its China operations as sales and orders in the world's second-largest economy have failed to grow, Wirtschaftswoche reported without citing the source of the information.

Related news

SAP

The business software maker is calling on staff to cut expenses and other costs as it seeks savings following a warning earlier this month that sales would fall short of expectations this year.

Related news

DEUTSCHE BANK

The lender has learned its lessons from past striving for high-risk deals and excessive bonuses, chairman Paul Achleitner told the Austrian broadcasting network ORF on Saturday, saying a "change of thinking" is underway at Germany's biggest bank.

Related news

TELEFONICA DEUTSCHLAND

The sale of KPN's German business to Telefonica is likely to bring more consolidation in Europe's mobile market, the head of KPN's E-Plus said in an interview with Der Spiegel.

Related news

COMMERZBANK

Several German banks face new write-offs and may need to raise more capital ahead of next year's planned European bank stress tests, Der Spiegel reported, without citing sources.

Commerzbank, HSH Nordbank and NordLB are among banks particularly active in shipping finance which continues to weigh on lenders' balance sheets.

Related news

BMW

Rolls-Royce, the German automaker's U.K. ultra-luxury brand is mulling to increase production and the number of dealerships as growing demand may push sales to about 4,000 vehicles this year from 3,575 in 2012, Wirtschaftswoche reported, citing CEO Torsten Mueller-Oetvoes.

Related news

AXEL SPRINGER

The publisher has sold a set of French magazines after disposing of some of Germany's best-known titles earlier this week, magazine New Business reported, citing a company spokesman.

Related news

PRAKTIKER

As many as 4,000 jobs could be lost at the home improvement retailer and its Max Bahr chain following insolvency filings, Bild reported, citing the group's deputy board chairman.

Related news

HAWESKO HOLDING

Germany's largest wine dealer expects to sell a record 70 million bottles this year, boost sales by 6 percent to 475 million euros and eyes a further increase in 2013 dividends, Frankfurter Allgemeine Sonntagszeitung reported, citing CEO Alexander Margaritoff.

Related news

ANALYTIK JENA

The provider of measuring technology corrected its full-year revenue target to a range of 96-98 million euros from more than 100 million euros.

Related news

TOMORROW FOCUS

The internet company plans to sell app-developer Cellular as well as service provider Tomorrow Focus Technologie and buy portals for themes in fashion, automotive and health, Wirtschaftswoche reported, citing the company's new CEO Toon Bouten.

Related news

OVERSEAS STOCK MARKETS

Dow Jones edged up 0.02 pct, S&P 500 up 0.08 pct, Nasdaq up 0.22 pct at Friday's close.

Nikkei pct -2.54 pct at 0507 GMT.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS

(Reporting by Maria Sheahan, Andreas Cremer and Christiaan Hetzner)