August 12, 2015 / 4:52 AM / 2 years ago

German stocks - Factors to watch on August 12

FRANKFURT/BERLIN, Aug 12 (Reuters) - The DAX top-30 index looked set to open 1 percent lower on Wednesday, according to premarket data from brokerage Lang & Schwarz at 0606 GMT.

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

CHINA

China’s yuan hit a four-year low on Wednesday, falling for a second day after authorities devalued it in a move that sparked fears of a global currency war and accusations that Beijing was giving an unfair advantage to its struggling exporters.

BMW

Indicated 0.9 percent lower

BMW on Tuesday said it was looking into whether Google infringed any trademark rights after the Silicon Valley-based group set up a new company called Alphabet, which is also the name of a BMW subsidiary.

Separately, Drive Now, the car sharing business run by BMW BMWG.DE and car rental firm Sixt SIXG.DE will allow third-party companies to run their business as a franchise in some cities, German daily Handelsblatt reported, citing Drive Now executive Nico Gabriel.

DEUTSCHE BANK

Indicated 0.7 percent lower

Postbank, the retail bank chain that Deutsche Bank plans to divest, is working hard to ready itself for its expected initial public offering (IPO), Postbank’s chief executive told a German newspaper.

E.ON

Indicated 0.4 percent higher

Germany’s top utility said its core profit fell 13 percent in the first half, as the group sold less power from gas- and coal-fired plants which it plans to spin off next year to cope with a surge in rival wind and solar capacity.

HENKEL

Indicated 1.4 percent lower

The consumer goods group reported a 14 percent increase in its core profit in the second quarter, helped by strong demand for its detergents in Eastern Europe and Latin America and currency effects.

RWE

Indicated 0.4 percent higher

RWE sees no need for a regulatory pre-announcement ahead of its first half results on Thursday, an RWE spokeswoman said, suggesting the group would likely stick to its forecast after a report said it would not.

BILFINGER

Indicated 0.9 percent lower

The engineering and services group posted a net loss of 423 million euros for the second quarter on a goodwill impairment and restructuring expenses in its Power segment, which is up for sale.

FRAPORT

Indicated 0.8 percent higher

Freight volumes handled at Frankfurt airport fell by 2 percent in July, airport operator Fraport said.

TALANX

No indication available

The insurer’s net profit fell by more than expected to 60 million euros in the second quarter, as a rise in premiums and investment income failed to offset the impact of of a 155 million euros goodwill writedown announced last month.

EVOTEC

Indicated 0.7 percent higher

The biotech company raised its 2015 revenue guidance, saying it now saw full-year revenues up by more than 35 percent, as it published second-quarter results.

LPKF

Indicated 3.6 percent lower

The maker of laser-based production equipment posted a first-half EBIT loss after orders for LDS gear from antenna manufacturers slumped.

BERTRANDT

Indicated 0.9 percent lower

The company published an increase in nine-month earnings.

HAMBORNER REIT

Indicated 0.5 percent higher

The company rpeorted a rise in first-half funds from operations.

HEIDELBERGER DRUCKMASCHINEN

Indicated 0.3 percent higher

The printing press maker said it expected to post a 2015/16 EBITDA margin, adjusted for currency effects of at least 8 percent as it published full first-quarter results.

Full Q1 results due. The company already published preliminary figures on July 21, with EBITDA jumping to 46 million euros from 6 million.

EX-DIVIDEND

CELESIO - dividend 0.83 eur/shr

ANALYSTS’ VIEWS

FRAPORT - SocGen starts the stock with “buy”, price target of 74 euros

OVERSEAS STOCK MARKETS

Dow Jones minus 1.2 pct, S&P 500 minus 1 pct, Nasdaq minus 1.3 pct at Tuesday’s close.

Nikkei minus 1.6 pct at Wednesday’s close. Shanghai stocks minus 0.3 pct at 0611 GMT.

GERMAN ECONOMIC DATA

No economic data scheduled.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS ($1 = 0.9067 euros) (Reporting by Jonathan Gould, Maria Sheahan and Andreas Cremer)

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