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German stocks - Factors to watch on December 21
December 21, 2016 / 6:15 AM / 10 months ago

German stocks - Factors to watch on December 21

FRANKFURT, Dec 21 (Reuters) - The DAX top-30 index looked set to open 0.1 percent lower on Wednesday, according to premarket data from brokerage Lang & Schwarz at 0700 GMT.

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

BERLIN ATTACK

German authorities on Tuesday released a Pakistani asylum-seeker suspected of driving a truck into a Berlin Christmas market and killing 12 people due to a lack of evidence and the interior minister said the real perpetrator may still be on the run.

VOLKSWAGEN

Indicated 0.5 percent higher

The carmaker has agreed to a $1 billion settlement to fix or buy back another 80,000 polluting diesel vehicles sold in the United States as the German automaker on Tuesday took new steps to put its emissions cheating scandal behind it.

BASF

Indicated 0.1 percent lower

The chemicals firm said that the International Trade Commission had determined that Belgian specialty materials group Umicore had infringed battery patents by BASF and Argonne National Laboratory.

INFINEON

Indicated 0.4 percent lower

The chipmaker said no court ruling had been made regarding a patent dispute with peer Macom. Macom had said last week that a U.S. court had entered a preliminary injunction order barring Infineon from selling certain products.

LINDE

Indicated 0.3 percent higher

The group’s engineering business will “remain in the family”, Linde Chief Executive Aldo Belloni told German daily Handelsblatt, after he told employees that the division would be moved to a separate legal entity to safeguard its business.

THYSSENKRUPP

Indicated 0.2 percent higher

Rio de Janeiro state prosecutors filed a lawsuit against former state Governor Sérgio Cabral, two of his former secretaries and ThyssenKrupp steelmaking unit Companhia Siderúrgica do Atlântico SA for administrative impropriety over the granting of an operations license.

HOCHTIEF

Indicated 0.4 percent lower

Australian unit CIMIC’s CPB Contractors won a road contract in Queensland, which will generate around A$420 million ($305 million) of revenues.

ADO PROPERTIES

Up 2.7 percent in early Frankfurt trade

The real estate company said its real estate portfolio’s value had risen by about 580 million euros to 2.3 billion, resulting in an increase of its EPRA NAV per share by around 7 euros.

BRAAS MONIER

Indicated unchanged

The roof tile maker said late on Tuesday its board had approved plans to issue new shares and to pay a special dividend, part of its agreement to be taken over by Standard Industries.

AIR BERLIN

Indicated 1.4 percent higher

Etihad Airways, which owns a stake in Air Berlin, is reviewing its strategy of investing in European airlines and is seeking an exit in a shake-up that could lead to the departure of CEO James Hogan, company and industry sources told Reuters on Tuesday.

OVERSEAS STOCK MARKETS

Dow Jones +0.5 pct, S&P 500 +0.4 pct, Nasdaq +0.5 pct at close.

Nikkei -0.3 pct, Shanghai stocks +1.2 pct.

Time: 7.04 GMT.

GERMAN ECONOMIC DATA

No economic data scheduled.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS ($1 = 1.3782 Australian dollars) (Reporting by Arno Schuetze and Maria Sheahan)

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