February 22, 2017 / 5:48 AM / 5 months ago

German stocks - Factors to watch on February 22

5 Min Read

FRANKFURT, Feb 22 (Reuters) - The DAX top-30 index looked set to open 0.3 percent higher on Wednesday, according to premarket data from brokerage Lang & Schwarz at 0733 GMT.

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

Autos

BMW indicated 0.1 percent higher

Daimler indicated 0.6 percent higher

Volkswagen indicated 0.2 percent higher

A trade association representing carmakers including Volkswagen on Tuesday asked new U.S. Environmental Protection Agency chief Scott Pruitt to withdraw an Obama administration decision to lock in vehicle emission rules through 2025.

Separately, the Economic Times cited sources as saying Tata Motors and Volkswagen were at an advanced stage of finalising a partnership. An announcement could be made at the Geneva auto show next month, it said.

Bayer

Indicated 0.1 percent lower

Bayer said it expected a mid-single digit percentage increase in adjusted core earnings for 2017, helped by fast growing revenues from stroke prevention pill Xarelto.

Deutsche Boerse

Indicated 0.1 percent higher

Deutsche Boerse and the London Stock Exchange are planning further concessions to satisfy the European Commission's concerns about their planned merger, two sources familiar with the matter said on Tuesday.

Deutsche Post, Deutsche Telekom

Deutsche Post indicated unchanged

Deutsche Telekom indicated unchanged

The German government is mulling reducing or selling entirely its holdings in Deutsche Post, Deutsche Telekom and rail operator Deutsche Bahn, Handelsblatt reported, citing an internal report to be looked at by the cabinet on Wednesday.

Fresenius

Indicated 0.7 percent higher

The healthcare group reported a 6 percent rise in net income to 439 million euros, falling slightly short of analyst consensus for an 8.5 percent increase, and laid out 2020 targets.

Fresenius Medical Care

Indicated 0.1 percent lower

The world's largest kidney dialysis provider said it expected its net income growth to come to between 7 and 9 percent this year, after a 21 percent jump last year.

Rwe

Indicated 2.2 percent lower

The utility said it would resume dividend payments only next year, dashing hopes for a return to payouts this year. For 2017, it will pay 0.50 euros per common share.

Thyssenkrupp

Indicated 3.5 percent higher

Ternium SA has agreed to buy 100 percent of ThyssenKrupp's Brazilian mill CSA for 1.26 billion euros, ending five years of unsuccessful efforts by the German company to exit Latin America's largest economy. Ternium will also assume around 300 million euros that CSA owes to Brazil state development bank BNDES.

Airbus

Down 2.2 percent in early Frankfurt trade

European aerospace group Airbus took a new 1 billion euros charge for its troubled A400M military aircraft programme as it posted higher than expected core earnings and revenues for 2016.

Deutsche Wohnen

Indicated 1.3 percent lower

Deutsche Wohnen said its funds from operations rose 26 percent to 384 million euros last year, said it will issue 800 million euros in convertible bonds and announced a capital increase of 500 million euros to refinance its debt and fund new acquisitions.

Stroeer

Indicated 1.6 percent higher

The out-of-home advertising group said it now expected its 2017 revenues to rise to around 1.3 billion euros, from 1.12 billion last year, compared with previous guidance for between 1.2 billion and 1.3 billion.

Telefonica Deutschland

Up 3.5 percent in early Frankfurt trade

Telefonica Deutschland raised its target for synergies from its acquisition of E-Plus, after reporting better-than-expected core profit for the fourth quarter.

Cewe

Indicated 1 percent higher

The photo finishing group said its 2016 operating profit jumped 29 percent to 47 million euros, with sales up 7 percent.

Indus Holding

Indicated 0.2 percent higher

The group said it expected to continue growing this year, as it reported a 6 percent gain in 2016 operating profit.

Tom Tailor

Indicated unchanged

The fashion group said it posted EBITDA of 10.3 million euros and sales 968.5 million euros last year. The loss for the year amounts to around 73 million euros, including one-off expenses amounting to 80.9 million euros.

Annual General Meetings

DEUTSCHE BETEILIGUNGS AG - 1.20 eur/shr dividend proposed

Analysts' Views

ALLIANZ - Berenberg cuts to "hold" from "buy", raises target price to 175 euros from 157 euros

Overseas Stock Markets

Dow Jones +0.6 pct, S&P 500 +0.6 pct, Nasdaq +0.5 pct at close.

Nikkei unchanged, Shanghai stocks +0.2 pct.

Time: 7.38 GMT.

German Economic Data

German Ifo sentiment index for February due at 0900 GMT. Business climate seen at 109.6 points vs 109.8, current conditions at 116.7 vs 116.9, expectations at 103.0 vs 103.2.

European Factors to Watch

Diaries

REUTERS TOP NEWS (Reporting by Edward Taylor and Maria Sheahan)

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