February 28, 2017 / 6:05 AM / 7 months ago

German stocks - Factors to watch on February 28

FRANKFURT, Feb 28 (Reuters) - The DAX top-30 index looked set to open 0.1 percent higher on Tuesday, according to premarket data from brokerage Lang & Schwarz at 0710 GMT.

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

GREECE

Bailout inspectors will resume talks with the government on Tuesday to try to complete a review of the country’s compliance with agreed reforms that has dragged on for months, the finance ministry said on Monday.

ADIDAS

Indicated 0.5 percent lower

Losses at TaylorMade are much greater than many potential bidders for Adidas’ golf business anticipated, causing suitors to walk away, New York Post reported, citing sources.

DAIMLER

Indicated 0.3 percent higher

The carmaker has picked the head of its North American trucks division to run group-wide truck operations, it said on Monday, avoiding a lengthy search for a successor to departed chief Wolfgang Bernhard.

DEUTSCHE BOERSE

Indicated 0.4 percent lower

The London Stock Exchange (LSE) had doubts about the suitability of Deutsche Boerse CEO Carsten Kengeter to lead a combined company after insider trading allegations were made against him, two sources familiar with the matter said on Monday.

SAP

Indicated 0.2 percent higher

Annual report due. The group already published preliminary results on Jan. 24 and raised its outlook slightly for the next four years.

VOLKSWAGEN

Indicated 0.5 percent higher

The carmaker’s supervisory board has decided to cut executives’ pensions to 40 percent of base salary from previously 50 percent, German daily Bild reported, citing no sources.

AIRBUS

Down 0.2 percent in early Frankfurt trade

Airbus said on Monday it had appointed a new head of its troubled A400M airlifter project as well as a deputy leader of its broader military aircraft business, confirming an earlier Reuters report.

HOCHTIEF

Indicated 1.5 percent higher

The builder said it expected its revenues to rise by more than 10 percent this year, after they fell by nearly 6 percent in 2016.

SALZGITTER

Indicated 1.3 percent lower

The steelmaker said it would focus on growth and innovation after years of restructuring that helped lift its pretax profit to a better-than-expected 57 million euros ($60.4 million) in 2016 from just 4 million a year earlier.

STEINHOFF

Up 1.7 percent in early Frankfurt trade

Steinhoff reported a 45 percent jump in first-quarter revenues to 5.3 billion euros.

ELRINGKLINGER

Indicated 1.1 percent lower

The group reported a 12 percent gain in fourth-quarter underlying operating profit, with revenues up 17 percent.

HAPAG-LLOYD

Down 0.5 percent in early Frankfurt trade

Q4 results due.

ANALYSTS’ VIEWS

ALLIANZ - Morgan Stanley raises to “equal weight” from “underweight”, lifts target price to 184 euros from 161 euros

LEG IMMOBILIEN - Societe Generale cuts to “hold” from “buy”

RHOEN-KLINIKUM - Jefferies cuts to “underperform” from “buy”, cuts price target to 17.60 euros from 28.40 euros

OVERSEAS STOCK MARKETS

Dow Jones +0.1 pct, S&P 500 +0.1 pct, Nasdaq +0.3 pct at close.

Nikkei +0.1 pct, Shanghai stocks +0.4 pct.

Time: 7.13 GMT.

GERMAN ECONOMIC DATA

No economic data scheduled.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS ($1 = 0.9439 euros) (Reporting by Andreas Cremer and Maria Sheahan)

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