April 24, 2017 / 5:09 AM / 3 months ago

German stocks - Factors to watch on April 24

4 Min Read

FRANKFURT/BERLIN, April 24 (Reuters) - The DAX top-30 index looked set to open 1.9 percent higher on Monday, according to premarket data from brokerage Lang & Schwarz at 0617 GMT.

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

France Election

Centrist Emmanuel Macron took a big step towards the French presidency on Sunday by winning the first round of voting and qualifying for a May 7 runoff alongside far-right leader Marine Le Pen.

Deutsche Post

Indicated 1.9 percent higher

Deutsche Post DHL Group is seeking a buyer for its British outsourcing subsidiary Williams Lea, a person familiar with the matter said on Friday, adding that the process was at an early stage.

Prosiebensat.1

Indicated 1.2 percent higher

ProSiebenSat.1's strategy chief Ralf Schremper is leaving the German broadcaster to join private equity group Oakley Capital, two people familiar with the situation said on Friday.

Rwe

Indicated 1.9 percent higher

The city of Dortmund is considering whether to buy more shares in RWE, and would look at any purchase should other municipalities want to sell more shares, mayor Ullrich Sierau told newspaper Westdeutsche Allgemeine Zeitung on Saturday.

Volkswagen

Indicated 1.7 percent higher

Truckmaker Scania's order intake was "really strong" in the first quarter, Scania CEO Henrik Henriksson tells business daily Dagens Industri.

Rtl

Up 0.9 percent in early Frankfurt trade

RTL Deutschland has bought a 24.95 percent stake in Goldbach Audience for an undisclosed price, Goldbach Group said in a statement.

Pfeiffer Vacuum

Indicated 0.3 percent higher

The pump maker said its management and supervisory board advised shareholders not to accept an improved takeover offer by rival Busch Group.

Sartorius

Indicated 1.6 percent higher

The group affirmed its 2017 guidance after its first-quarter underlying EBITDA rose 17 percent to 84.6 million euros, beating consensus for 79.9 million.

Amadeus Fire

Indicated 1 percent higher

The group reported a 32 percent jump in first-quarter EBITA and said it was leaving its guidance unchanged.

Sixt

Indicated 1 percent higher

Annual report published. The group reported preliminary results on March 15, forecast stable to marginally higher 2017 pretax profit and hiked its dividend.

Annual General Meetings

INNOGY - 1.60 eur/shr dividend proposed

Analysts' Views

ADIDAS - Citigroup raises to "neutral"

DEUTSCHE BANK - Macquarie raises to "outperform" from "underperform"; Kepler Cheuvreux reinitiates with "buy" rating, 17.50 euros price target

E.ON - Jefferies cuts to "hold", cuts price target to 7.80 euros

AIXTRON - Helvea Baader raises to "buy" from "hold", lifts target price to 5 euros from 3.60 euros

SOFTWARE AG - HSBC cuts to "hold" from "buy", raises target price to 40 euros from 38 euros

Overseas Stock Markets

Dow Jones -0.2 pct, S&P 500 -0.3 pct, Nasdaq -0.1 pct at close.

Nikkei +1.4 pct, Shanghai stocks -1.4 pct.

Time: 6.20 GMT.

German Economic Data

German April Ifo sentiment index due at 0800 GMT. Business Climate seen flat at 112.3 points.

European Factors to Watch

Diaries

REUTERS TOP NEWS (Reporting by Georgina Prodhan, Victoria Bryan and Maria Sheahan)

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