March 10, 2017 / 6:28 AM / 5 months ago

FRIDAY-German stocks - Factors to watch on March 10

BERLIN/FRANKFURT, March 10 (Reuters) - The DAX top-30 index looked set to open 0.4 percent higher on Friday, according to premarket data from brokerage Lang & Schwarz at 0701 GMT.

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

ALLIANZ

Indicated up 0.4 pct

Annual report due. The group reported preliminary results on Feb. 17 and said it would return up to 3 billion euros to shareholders.

Allianz has picked a new finance chief, it said on Thursday, as the German insurance group presses ahead with a reshuffle of top management positions.

DEUTSCHE BANK

A total of 30 banks have signed up to back Deutsche Bank's 8 billion-euro rights issue, relieving the demands on the eight banks that provided the initial underwriting last weekend.

LUFTHANSA, AIR BERLIN

Lufthansa indicated down 0.1 pct, Air Berlin indicated flat

Nearly all flights were cancelled at Berlin's two airports on Friday due to strike action by ground staff, who want an increase in pay to 12 euros ($12.71) from 11 euros an hour.

PROSIEBENSAT.1

Indicated up 0.2 pct

Austria's competition regulator has approved the acquisition of Austrian TV station ATV by ProSiebenSat.1.

VOLKSWAGEN

Indicated up 0.6 pct

Volkswagen is set to plead guilty on March 10 in Detroit to three felony counts under a plea agreement to resolve U.S. charges it installed secret software in vehicles to enable it to beat emissions tests.

VW plans to scrap bonus payments for members of its supervisory board, it said on Thursday, the latest sign of belt-tightening as the German carmaker grapples with the cost of its emissions scandal.

FRAPORT

Indicated up 0.2 pct

Fraport said passenger traffic at Frankfurt Airport rose 1 percent in February. Adjusting for last year's leap-year effect, passenger numbers would have risen 4.9 percent, Fraport said.

GEA GROUP

Indicated up 0.4 pct

Annual report due. The group published preliminary financial results on Feb. 7 and predicted a return to earnings growth this year. It said it aimed to pay a stable dividend.

WIRECARD

Indicated up 0.3 pct

The company has completed an acquisition of U.S. firm Cite Prepaid Card Services.

ANALYST VIEWS

EVOTEC - Berenberg starts with "buy"

ZALANDO - Barclays starts with "overweight"

OVERSEAS STOCK MARKETS

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

Nikkei +1.5 pct, Shanghai stocks -0.1 pct.

Time: 7.25 GMT.

GERMAN ECONOMIC DATA

German January trade balance rose to 18.5 bln euros, with exports +3 pct, imports +2.7 pct.

German February wholesale prices rose 0.5 pct m/m, 5.0 pct y/y.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Andreas Cremer and Georgina Prodhan)

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