December 23, 2016 / 6:28 AM / 8 months ago

REFILE-German stocks - Factors to watch on December 23

(Changes entry on Porsche to be filed under Volkswagen, not Deutsche Bank)

FRANKFURT, Dec 23 (Reuters) - The DAX top-30 index looked set to open 0.1 percent higher on Friday, according to premarket data from brokerage Lang & Schwarz at 0733 GMT. The following are some of the factors that may move German stocks:

BASF

Indicated 0.1 percent lower

BASF Chief Executive Kurt Bock told German FAZ he saw signs for the chemical cycle to bottom out, but cautioned on potential impact for the group's earnings targets. "We maintain our guidance for this year and it is still too early for a 2017 outlook," Bock was quoted as saying.

DEUTSCHE BANK

Indicated 3.3 percent higher

Deutsche Bank has agreed to a $7.2 billion settlement with the U.S. Department of Justice over its sale and pooling of toxic mortgage securities in the run-up to the 2008 financial crisis.

Separately, Der Spiegel reported that talks between the lender and former managers over the refund of bonus payments came to a halt as supervisory board chairman Paul Achleitner failed to reach an agreement with Josef Ackermann and other former managers.

Separately, the state court in Frankfurt has annulled several decisions taken at the bank's annual general meeting, Sueddeutsche Zeitung reported, saying the court said a minimum dividend should have been paid and declaring the management and supervisory board's approval by shareholders to be void. The bank can catch up on the decisions at the next AGM and has the opportunity to repeal the court's decision.

DEUTSCHE BOERSE

Indicated unchanged

In advancing their planned merger, the German exchange operator and its London counterpart LSE appear to be prepared for further compromises with the German state of Hesse and provide the regulator with a permanent veto right, FAZ reported citing unnamed sources.

FRESENIUS

Indicated 0.2 percent lower

Fresenius receives Spanish antitrust approval for the roughly 6 billion euro takeover of Quirónsalud.

K+S

Indicated 0.3 percent lower

A German environmental regulator, the Regierungspraesidium Kassel, is due to hold a news conference at 1000 GMT on the potash miner K+S's request for a permit for waste water discharge.

VOLKSWAGEN

Indicated 1.4 percent lower

European Commissioner Vera Jourova wants VW to improve compensation for European consumers who have been impacted by the Dieselgate emissions scandal, Die Welt reported.

Separately, a federal judge said on Thursday that Volkswagen AG has reached an agreement in principle to provide "substantial compensation" to the owners of about 80,000 3.0-liter polluting diesel vehicles, a key hurdle to resolve the German automaker's emissions scandal.

Separately, the head of VW's luxury brand unit Audi, Rupert Stadler, told Handelsblatt he did not consider stepping down amid the unit's entanglement in the emissions scandal. "My style of management and me have shaped the company and want to continue doing so," Stadler was quoted as saying.

Separately, the carmaker's luxury unit Porsche said a first billion euro claim by U.S. hedge funds over alleged short selling transactions has been dismissed by Germany's Federal Court of Justice.

SGL Carbon

Indicated 0.2 percent lower

The carbon fibre producer shareholder Voith's voting stake has fallen to 2.99 percent, from 5.12 percent. SGL recently undertook a capital increase where Voith declined to participate.

OVERSEAS STOCK MARKETS

Dow Jones -0.1 pct, S&P 500 -0.2 pct, Nasdaq -0.4 pct at close.

Japanese markets closed, Shanghai stocks -0.9 pct.

Time: 7.11 GMT.

GERMAN ECONOMIC DATA

The mood among German consumers improved heading into January as they became more upbeat about their future income, a survey showed on Friday, suggesting household spending will continue to propel economic growth at the beginning of next year.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Edward Taylor and Tina Bellon)

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