February 27, 2017 / 5:56 AM / 5 months ago

German stocks - Factors to watch on February 27

4 Min Read

FRANKFURT, Feb 27 (Reuters) - The DAX top-30 index looked set to open 0.2 percent higher on Monday, according to premarket data from brokerage Lang & Schwarz at 0710 GMT.

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

Bmw

Indicated 0.3 percent higher

The luxury carmaker is considering moving planned production of an electric version of its Mini compact car to Germany from Britain in response to plans by London to leave the EU single market, the Handelsblatt daily newspaper reported.

Carmakers

Daimler indicated 0.1 percent higher

Following high-level political talks, Beijing is prepared to water down its planned quota for electric cars, partly at the request of German carmakers, Handelsblatt reported, citing several people familiar with the matter.

Deutsche Bank

Indicated 0.1 percent lower

Bonus cuts at Germany's flagship lender, announced in January, have so far not led to a mass exodus of employees, one of its board members told a German weekly newspaper.

Deutsche Boerse

Tendered shares indicated 4.1 percent lower

London Stock Exchange Group Plc said on Sunday it believes the European Commission is unlikely to provide clearance for its merger with Deutsche Boerse after LSE's board concluded it would not be able to meet the regulator's demands.

Volkswagen

Indicated 0.7 percent higher

Record Audi and Porsche sales helped Volkswagen swing to a record underlying profit in 2016, although a bigger than expected charge from the diesel emissions scandal meant it missed estimates for its operating profit.

Separately, Volkswagen is also shaking up its executive pay with a cap on earnings, it said on Friday, as it looks to quell widespread anger over bonuses paid even as the carmaker suffered record losses in the aftermath of the emissions scandal in 2015.

In addition, a senior employee at Porsche was allowed to make changes to the German government's finding report on VW's dieselgate scandal, including removing critical observations on emissions manipulation, magazine Der Spiegel reported.

A spokesman for Porsche said it was natural that the company would give opinions when asked by regulators on specific issues, adding it was up to the authorities to assess them.

Evonik

No indication available

The head of strategy at the German chemicals company is set to succeed current Chief Executive Officer Klaus Engel, three people familiar with the matter told Reuters.

Stada

Indicated 0.4 percent higher

The German generic drugmaker is opening its books to potential acquirers after coming under pressure from its largest shareholder to consider various takeover approaches.

Stroeer

Indicated 0.8 percent higher

The company has credit lines of up to 700 million euros as well as internal funds of more than 320 million for potential acquisitions, Chief Financial Officer Bernd Metzner told Euro am Sonntag in an interview.

Overseas Stock Markets

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

Nikkei -0.9 pct, Shanghai stocks -0.8 pct.

Time: 7.23 GMT.

German Economic Data

No economic data scheduled.

European Factors to Watch

Diaries

REUTERS TOP NEWS (Reporting by Arno Schuetze, Christoph Steitz, Andreas Cremer and Edward Taylor)

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