April 12, 2017 / 5:20 AM / 3 months ago

German stocks - Factors to watch on April 12

4 Min Read

FRANKFURT, April 12 (Reuters) - The DAX top-30 index looked set to open 0.2 percent higher on Wednesday, according to premarket data from brokerage Lang & Schwarz at 0615 GMT.

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

Borussia Dortmund

Indicated down 1.1 pct

An explosives attack was launched on the Borussia Dortmund soccer team's bus late on Tuesday, injuring defender Marc Bartra, who was taken to hospital. German police said they still did not know who was behind the attack.

Daimler

Indicated up 2.9 pct

Operating profit jumped a better-than-expected 87 percent to 4.01 billion euros ($4.25 billion) in the first quarter, the maker of Mercedes-Benz cars and trucks said in an unscheduled release late on Tuesday.

Deutsche Boerse

Indicated up 0.3 pct

A planned extension of CEO Carsten Kengeter's contract has been postponed until prosecutors complete their investigation into his suspected insider trading, Platow Brief reported.

Siemens

Indicated down 0.1 pct

Siemens will no longer implement traditional cost-cutting programmes in administration but instead will reorganise and continually improve work processes, finance chief Ralf Thomas told the Frankfurter Allgemeine Zeitung. Thomas said he considered savings of 20-30 percent to be possible, with annual productivity improvements of 3-5 percent.

Volkswagen

Indicated up 0.7 pct

Volkswagen is trying to win back American customers after its diesel emission scandal with SUV warranties that it said late on Tuesday will be the longest in the United States.

A trade group for automakers including Volkswagen said late on Tuesday it hoped to reach a deal with California and the Trump administration over vehicle fuel efficiency standards.

Fraport, Lufthansa

Fraport indicated up 0.2 pct

Lufthansa indicated up 0.5 pct

Passenger traffic rose 1.8 percent in March and cargo rose 9.8 percent, the highest monthly growth rate in six years, helped by a favourable timing of week days and Easter falling in April.

Separately, CEO Stefan Schulte told Handelsblatt he was making progress in talks with Lufthansa over a fee structure that Lufthansa says favours low-cost rival Ryanair, and was confident that Lufthansa - which has threatened to reduce Frankfurt flights over the row - would grow strongly in Frankfurt again.

Hochtief

Indicated up 0.2 pct

Hochtief's Cimic was awarded a New Zealand schools project worth NZ$113 million ($78 million), it said on Wednesday.

Lanxess

Indicated up 0.2 pct

Lanxess said it would increase its capacities for iron oxide pigments by around 25,000 metric tonnes to 400,000 tonnes by 2019.

Freenet

Indicated up 0.2 pct

Capital Markets Day due. The group has said it would present details on its TV business and publish guidance for 2017.

Wirecard

Indicated up 0.1 pct

Wirecard said it would bring Alipay to Greece together with the country's national bank.

Puma

Indicated up 2.5 pct

Puma raised its full-year sales and earnings forecasts after releasing strong preliminary results for the first quarter.

Annual General Meetings

PUMA - 0.75 eur/shr dividend proposed

Analysts' Views

DEUTSCHE BOERSE - GOLDMAN SACHS reinstates with "NEUTRAL" rating

Overseas Stock Markets

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

Nikkei -1.3 pct, Shanghai stocks -0.3 pct.

Time: 5.17 GMT.

German Economic Data

German March wholesale prices due at 0600 GMT.

European Factors to Watch

Diaries

REUTERS TOP NEWS ($1 = 0.9428 euros) ($1 = 1.4401 New Zealand dollars) (Reporting by Ludwig Burger and Georgina Prodhan)

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