October 7, 2016 / 5:21 AM / 10 months ago

German stocks - Factors to watch on October 7

4 Min Read

FRANKFURT, Oct 7 (Reuters) - The DAX top-30 index looked set to open 0.1 percent lower on Friday, according to premarket data from brokerage Lang & Schwarz at 0615 GMT.

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

Rwe, Innogy

RWE indicated 0.5 percent higher

Shares in Innogy due to start trading on the Frankfurt stock exchange at 0700 GMT in what is Germany's largest IPO since 2000.

Shares in Innogy were sold at 36 euros apiece, the group said late on Thursday, the upper end of a narrowed price range of 35-36 euros.

Allianz

Indicated 0.2 percent lower

Investors poured $1.2 billion into the Pimco Income Fund, overseen by group chief investment officer Dan Ivascyn, in September, bringing total assets under management to $66 billion for the portfolio, according to Morningstar data on Thursday.

Daimler

Indicated 0.3 percent lower

Detroit Diesel Corp, a unit of Daimler, will spend $14.5 million to reduce pollutants and pay a $14 million civil penalty to settle alleged violations of the U.S. Clean Air Act, the Justice Department said on Thursday.

Deutsche Bank

Indicated 1.6 percent higher

Deutsche Bank is in informal talks with securities firms to explore options including raising capital should mounting legal bills require it, Bloomberg reported on Thursday.

Separately, the Financial Times reported that Deutsche Bank is working on a spin-off of its asset management business as one of several options to bolster its capital.

Also, two leading hedge funds which made big bets on Deutsche Bank shares falling are now reducing their "short" positions, in a sign of confidence in the stability of the lender.

The chief executives of several German blue-chip companies have discussed Deutsche Bank's problems and are ready to offer a capital injection if needed to shore up Germany's largest lender, Handelsblatt reported on Thursday.

e.on

Indicated 2.8 percent higher

Activist shareholder Cevian is considering taking a 10 percent stake in German utility E.ON, German daily Rheinische Post reported on Friday, citing industry sources.

Volkswagen

Indicated 0.2 percent lower

The carmaker won't sell any of its brands, its supervisory board Chairman Hans Dieter Poetsch told Boersen-Zeitung in an interview. He also said the company's financials were "solid" and it was not considering a capital increase.

Airbus

Down 0.1 percent in early Frankfurt trade

Airbus put a brave face on plans by France and Germany - the two main buyers of its troubled A400M military transporter - to operate an extra fleet of rival U.S. planes, saying it would spur European co-operation.

Airbus sold 49 jets in September, but saw its net orders for the year knocked back by the cancellation of jets ordered by India's Kingfisher Airlines.

Leoni

Indicated unchanged

The automotive supplier is reviewing options for its business making cables for white and brown goods, such as refrigerators and shavers, its Chief Executive Dieter Belle told WirtschaftsWoche. At the same time, it is looking at bolstering its Wire & Cable Solutions business, he said.

Aixtron

Indicated 0.7 percent higher

Fujian Grand Chip Investment lowered its minimum acceptance threshold for Aixtron to 50.1 percent from 60 percent and extended the offer period for its bid to Oct. 21.

Analysts' Views

INNOGY - Macquarie starts with "outperform", target price 41 euros

DIALOG SEMICONDUCTOR - Morgan Stanley raises to "overweight" from "equal weight"

SCOUT24 - JP Morgan raises to "overweight" from "neutral"

Overseas Stock Markets

Dow Jones -0.1 pct, S&P 500 +0.1 pct, Nasdaq -0.2 pct at close.

Nikkei -0.2 pct, Chinese markets closed.

Time: 6.17 GMT.

German Economic Data

German industrial production rose more than expected in August, posting its biggest increase since January to rebound from the steepest fall in 23 months last month and signal that the industry sector will contribute to growth in the third quarter.

European Factors to Watch

Diaries

REUTERS TOP NEWS ($1 = 0.8945 euros) (Reporting by Maria Sheahan)

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