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German stocks - Factors to watch on March 28
March 28, 2017 / 5:21 AM / 7 months ago

German stocks - Factors to watch on March 28

FRANKFURT, March 28 (Reuters) - The DAX top-30 index looked set to open 0.6 percent higher on Tuesday, according to premarket data from brokerage Lang & Schwarz at 0620 GMT. The following are some of the factors that may move German stocks:

ALLIANZ

Indicated up 0.3 pct

Bill Gross has reached a roughly $81 million settlement of his lawsuit against Allianz’s Pacific Investment Management Co (Pimco), ending a bitter 2-1/2-year drama over the well-known bond investor’s abrupt departure from one of the world’s biggest asset managers.

BASF

Indicated up 0.4 pct

BASF unit Chemetall signs an agreement with graphite explorer Talga Resources to co-develop and commercialise graphene-enhanced metal surface coatings.

BAYER

Indicated up 0.2 pct

Syngenta is eyeing Bayer assets, Bloomberg reported late on Monday.

COMMERZBANK

Indicated up 0.4 pct

Commerzbank plans to outsource its securities processing business, possibly to a German unit of HSBC, the Sueddeutsche Zeitung reported, citing insiders.

DEUTSCHE POST

Indicated up 0.6 pct

Deutsche Post extended a partnership with Max 21 until at least 2019.

E.ON

Indicated up 0.3 pct

The utility plans to issue new bonds worth up to 3 billion euros ($3.26 billion) this year, after an 8 year absence from the bond market, its chief executive told German daily Frankfurter Allgemeine Zeitung.

LUFTHANSA, AIR BERLIN

Lufthansa indicated up 0.6 pct

Air Berlin indicated up 0.9 pct

Trade union Verdi agreed a three-year pay deal for its 2,000 workers at Berlin airports, ending the threat of further strikes after industrial action caused the cancellation of some 2,000 flights in recent weeks.

Separately, Handelsblatt reported that Lufthansa and Etihad want to jointly market further flights from Frankfurt and Munich.

RWE

Indicated up 0.7 pct

Capital Markets Day due to present new corporate strategy.

VOLKSWAGEN

Indicated up 0.6 pct

Supervisory board due to be briefed on Dieselgate clean-up at meeting on Tuesday, according to a person familiar with the matter.

LEONI

Indicated down 0.9 pct

Supervisory board Chairman Werner Rupp will resign from his office on April 30 after the shareholder representatives on the board changed their nomination to propose Wolfgang Dehen instead of Rupp for the shareholder vote at the May 11 AGM, the company said late on Monday. Klaus Probst remains the board’s choice of future chairman.

NORMA

No indication available

Norma said it had acquired a majority stake in Chinese joining-products company Fengfan, a company with 15 million euros in 2016 sales, for an undisclosed price.

EVOTEC

Indicated up 5.2 pct

Evotec said it expected a significant improvement in 2017 EBITDA after 2016 EBITDA jumped to 36 million euros from 9 million euros a year earlier.

HAMBORNER REIT

Indicated up 0.2 pct

Hamborner Reit forecast that 2017 FFO would rise by 19-22 percent to between 43 and 44 million euros.

HORNBACH HOLDING

Down 7.6 pct in Frankfurt floor trading

The Hornbach family placed 1 million ordinary shares in Hornbach Holding.

TELE COLUMBUS

Indicated up 0.9 pct

Q4 results due. The group published preliminary figures on March 7 and said it saw normalised EBITDA rising by around 10 percent this year.

AUMANN

Indicated up 1.1 pct

Aumann said its greenshoe was fully exercised after its IPO.

BERTELSMANN

No indication available

2016 results due.

ENBW <EBKG.DE

Down 0.2 pct in Frankfurt floor trading

2016 results due.

ANALYSTS’ VIEWS

MUNICH RE - SocGen raises to “buy” from “hold”

PFEIFFER VACUUM - HSBC raises to “buy” from “hold”

LEONI - HSBC cuts to “hold” from “buy”

ADIDAS - Baader Helvea raises to “buy” from “hold”

OVERSEAS STOCK MARKETS

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

Nikkei +1.1 pct, Shanghai stocks -0.4 pct.

Time: 6.20 GMT.

GERMAN ECONOMIC DATA

No economic data scheduled.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS ($1 = 0.9205 euros) (Reporting by Ludwig Burger and Georgina Prodhan)

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