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German stocks - Factors to watch on December 20
December 20, 2016 / 7:41 AM / 9 months ago

German stocks - Factors to watch on December 20

BERLIN/FRANKFURT, Dec 20 (Reuters) - The DAX top-30 index looked set to open 0.1 percent lower on Tuesday, according to premarket data from brokerage Lang & Schwarz at 0734 GMT.

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

BERLIN ATTACK

Berlin police said on Tuesday that investigators assume the driver of a truck that ploughed into a crowd at a Berlin Christmas market, killing 12 people and injuring 48 others, did so intentionally in a suspected terrorist attack.

DEUTSCHE TELEKOM

Indicated 0.4 percent lower

The telecom provider urged corporations to reduce their vulnerability to cyber attacks by investing in security, Chief Executive Timotheus Hoettges told German daily Handelsblatt.

LUFTHANSA, AIR BERLIN

Lufthansa indicated 0.2 percent lower

Air Berlin indicated 3.7 percent higher

Eurowings and Air Berlin are open to closer cooperation, Karl Ulrich Garnadt, chief of the Lufthansa budget unit, told Sueddeutsche Zeitung.

VOLKSWAGEN

Indicated 0.3 percent lower

A U.S. judge has extended until Tuesday a deadline for the carmaker to complete a settlement over about 80,000 polluting Audi, Porsche and VW 3.0-liter diesel vehicles.

Volkswagen (VW) has agreed to spend up to $2.1 billion Canadian dollars to buy back or fix 105,000 polluting diesels and compensate owners in Canada, the company said Monday.

VONOVIA

Indicated 0.2 percent lower

The property group said its 2.9 billion euro ($3 billion) takeover offer has won sufficient backing from Conwert shareholders, fulfilling a key condition for the deal to go through.

K+S

Indicated 1 percent lower

Brazil’s Vale SA on Monday agreed to sell part of its fertilizer business to Mosaic Co for $2.5 billion to cut debt, while giving Mosaic greater access to Brazil’s huge agricultural market.

SUEDZUCKER, CROPENERGIES

Suedzucker indicated 1.6 percent higher

CropEnergies indicated 7.6 percent higher

Suedzucker’s CropEnergies said it now expects full-year operating profit of 70-85 million euros, compared with previous guidance for 50-80 million.

ROCKET INTERNET

Up 0.3 percent in early Frankfurt trade

Rocket Internet said it had agreed to an 85 million euros financing round at HelloFresh. An unnamed new investor together with Baillie-Gifford contributed new capital, cutting Rocket’s stake in HelloFresh to 53 percent.

ANALYSTS’ VIEWS

BMW - Morgan Stanley cuts to “equal weight” from “overweight”

DEUTSCHE POST - DZ Bank cuts to “hold” from “buy”

SLM SOLUTIONS - Berenberg resumes with “hold”, target price 33 euros

GRENKE - HSBC raises to “buy” from “hold”

OVERSEAS STOCK MARKETS

Dow Jones +0.2 pct, S&P 500 +0.2 pct, Nasdaq +0.4 pct at close.

Nikkei +0.5 pct, Shanghai stocks -0.5 pct.

Time: 7.40 GMT.

GERMAN ECONOMIC DATA

German November producer prices +0.3 pct m/m, +0.1 pct y/y. Had been seen +0.1 pct m/m, -0.2 pct y/y.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Maria Sheahan)

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