March 2, 2017 / 5:42 AM / 6 months ago

German stocks - Factors to watch on March 2

BERLIN/FRANKFURT, March 2 (Reuters) - The DAX top-30 index looked set to open 0.1 percent higher on Thursday, according to premarket data from brokerage Lang & Schwarz at 0706 GMT.

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

GLOBAL TRADE

U.S. President Donald Trump's administration said on Wednesday that it will take aggressive action to combat other countries' unfair trade practices and may defy World Trade Organization rulings that it views as interfering with U.S. sovereignty.

U.S. FED

An improving global economy and a solid U.S. recovery mean it will be "appropriate soon" for the Federal Reserve to raise U.S. interest rates Fed Governor Lael Brainard said on Wednesday, adding an important voice to the chorus of officials signaling rates may rise as soon as mid-March.

ALLIANZ

Indicated 0.1 percent lower

The insurer is close to striking a deal with Indian construction player Shapoorji Pallonji for around $400 million, the Financial Express reported, citing people familiar with the matter.

Also, its Allianz Global Corporate & Specialty business plans to cut its workforce of currently 5,000 by around 10 percent by end-2018 in response to fierce competition, Boersen-Zeitung reported, citing company sources. Nearly all the cuts are to be in Germany, it said.

AUTOS

BMW indicated unchanged

Daimler indicated 0.1 percent higher

Volkswagen indicated 0.2 percent higher

Carmakers reported February U.S. sales late on Wednesday. VW's deliveries were up 12.7 percent, those of Audi rose by 17 percent. BMW sales fell 2.5 percent, while Mercedes and Smart were up 6.8 percent.

Separately, German monthly new car registration figures expected.

Also, a U.S. federal judge set for April 18 in Detroit the trial of a former Volkswagen executive charged with crimes related to the company's massive diesel emissions scandal.

And Caixin reported, citing ministry sources, that China will revise its draft policy to change the proportion of new energy vehicles automakers must sell after meetings between Chinese and German officials, although exact changes have not been determined.

CONTINENTAL

Indicated 0.1 percent higher

Q4 results due. Adjusted earnings before interest and tax (EBIT) seen up 18 percent. Poll:

DEUTSCHE TELEKOM

Indicated 0.7 percent lower

Deutsche Telekom wrote down the value of its stake in Britain's BT by 2.2 billion euros ($2.32 billion), pushing it to a fourth-quarter net loss of 2.12 billion euros.

HENKEL

Indicated 0.1 percent higher

The consumer products group said it had submitted a binding offer to buy the global Darex Packaging Technologies business from GCP Applied Technologies for $1.05 billion on a cash and debt free basis.

GEA GROUP

Indicated 0.4 percent higher

The group said the first tranche of its share buyback worth up to 450 million euros would start on March 8.

EVONIK

Up 0.1 percent in early Frankfurt trade

The diversified chemicals maker reported a 13 percent decline in adjusted core profit for the fourth quarter due to lower prices for its poultry feed ingredients.

KION

Up 1.5 percent in early Frankfurt trade

Kion forecast its 2017 adjusted operating profit (EBIT) would rise to 740-800 million euros, from 537.3 million in 2016, as it reported financial results for last year.

KRONES

Indicated 2.2 percent lower

Krones said it expected its 2017 pretax margin to remain stable at 7 percent as its revenue and earnings continue to grow.

GFT TECHNOLOGIES

Indicated 10.9 percent lower

The software group gave an outlook for 2017 that it said was below market expectations due to investment banks being cautious with their spending.

ANNUAL GENERAL MEETINGS

AURUBIS - 1.25 eur/shr dividend proposed

ANALYSTS' VIEWS

NORDEX - Goldman Sachs cuts to "neutral" from "buy", cuts price target to 13 euros from 31 euros. Deutsche Bank raises to "hold" from "sell"

OVERSEAS STOCK MARKETS

Dow Jones +1.5 pct, S&P 500 +1.4 pct, Nasdaq +1.4 pct at close.

Nikkei +0.9 pct, Shanghai stocks -0.5 pct.

Time: 7.09 GMT.

GERMAN ECONOMIC DATA

German January import prices +0.9 pct m/m, +6.0 pct y/y. Had been seen +0.4 pct m/m, +5.5 pct y/y.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS ($1 = 0.9493 euros) (Reporting by Victoria Bryan and Maria Sheahan)

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