Reuters logo
German stocks - Factors to watch on May 9
May 9, 2017 / 4:58 AM / 4 months ago

German stocks - Factors to watch on May 9

FRANKFURT, May 9 (Reuters) - The DAX top-30 index looked set to open 0.1 percent higher on Tuesday, according to premarket data from brokerage Lang & Schwarz at 0607 GMT.

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

BANKS

Commerzbank indicated 3.1 percent higher

Deutsche Bank indicated 0.6 percent higher

Commerzbank posted a 28 percent rise in first-quarter net earnings in the first quarter, benefiting from a positive one-off effect in its run-off unit.

Also, sources told Reuters that the U.S. government’s review of a landmark 2010 financial reform law will not be complete by early June as originally targeted, and officials will now report findings piece-by-piece, with priority given to banking regulations.

CONTINENTAL

Indicated unchanged

Full Q1 results due. The automotive supplier published preliminary figures on April 28 and said it expected to comfortably reach its 2017 targets.

DEUTSCHE BOERSE

Indicated unchanged

Germany’s financial watchdog BaFin on Monday said it would clamp down on the marketing, distribution and sale of financial contracts for difference (CFD‘s), making use of sweeping new consumer protection powers.

E.ON

Indicated 0.2 percent lower

E.ON reported first-quarter profits slightly below expectations, citing a rise in grid fees and procurement costs in Britain and its home market as well as longer-than-expected maintenance work at one of its nuclear plants.

MUNICH RE

Indicated 1.2 percent lower

The reinsurance giant said that net profit rose to 557 million euros in the first quarter of this year, which it said kept it on track to meet its profit target for the full year.

BILFINGER

Indicated 0.1 percent higher

The company wants to complete its restructuring before 2021, Chief Executive Tom Blades told German newspaper Mannheimer Morgen.

ALSTRIA OFFICE

Indicated 0.9 percent higher

The group affirmed its 2017 guidance as it reported first-quarter funds from operations of 27.9 million euros.

FRAPORT

Indicated 0.6 percent lower

The airport operator said it had made a good start to the summer flight season as it reported lower than expected first quarter profit, hit by one-off costs for new Greek airports, among other items.

GEA GROUP

Indicated 0.1 percent higher

Full Q1 results published. The group published a few key figures last month and said it could not yet say where in its forecast range its annual results would come in, citing economic uncertainty.

K+S

Indicated 0.4 percent lower

The potash miner’s quarterly operating profit slumped 37 percent from a year earlier, hurt by lower prices of the fertiliser mineral and temporary environmental restrictions which it said might also weigh on full-year earnings.

SYMRISE

Indicated 0.8 percent lower

The flavours and scents maker stuck with its medium-term targets as it reported a 4.4 percent rise in first-quarter operating profit.

UNIPER

Indicated 0.8 percent higher

The energy group said its operating earnings fell by 41 percent, less than anticipated by analysts, as cost cuts at its power plant division helped the group offset weakness at its hydroelectric plants.

ZALANDO

Indicated 2.1 percent lower

Europe’s biggest pure online fashion retailer saw first-quarter sales grow 23 percent, supported by a marketing campaign featuring U.S. actor James Franco aimed at attracting more male customers.

DIALOG SEMICONDUCTOR

Indicated 1 percent lower

Dialog Semiconductor reported a 44 percent rise in first-quarter underlying operating profit helped by all of its segments, beating average expectations.

DEUTSCHE BETEILIGUNGS

No indication available

The group said it now expected its full-year net income to significantly exceed the year-earlier figure of 46.3 million euros, as it reported full second-quarter results.

DEUTZ

Indicated 0.4 percent higher

Full Q1 results due. The group published preliminary figures on April 27 and stuck with a forecast for a marked rise in 2017 revenue and a moderate widening of its operating margin.

ELRINGKLINGER

Indicated 1.8 percent higher

The automotive supplier reported a 22 percent rise in first-quarter EBITand stuck with its guidance for 2017 and the medium term.

GRAMMER

Indicated unchanged

The group said proxy advisors ISS, Glass Lewis and Ivox had recommended that shareholders vote for management proposals and against those of the Hastor family at the AGM on May 24.

HAMBORNER REIT

Indicated 1.5 percent higher

The group reported a 20 percent rise in first-quarter funds from operations and stuck with its 2017 guidance.

KOENIG & BAUER

Indicated 0.4 percent lower

The group forecast 2017 revenues of up to 1.25 billion euros and an EBIT margin of around 6 percent as it reported first-quarter results.

The company said separately it had appointed Ralf Sammeck and Christoph Mueller to the Executive Board with effect from June 1 to support its medium-term targets announced in February.

ANNUAL GENERAL MEETINGS

RHEINMETALL - 1.45 eur/shr dividend proposed

CTS EVENTIM - 0.98 eur/shr dividend proposed

AIXTRON - no dividend proposed

SILTRONIC - no dividend proposed

TELEFONICA DEUTSCHLAND - 0.25 eur/shr dividend proposed

ENBW - no dividend proposed

ANALYSTS’ VIEWS

EVONIK - Societe Generale raises to “buy” from “hold”, lifts target price to 36 euros from 31.50 euros

OVERSEAS STOCK MARKETS

Dow Jones unchanged, S&P 500 unchanged, Nasdaq unchanged at close.

Nikkei -0.1 pct, Shanghai stocks unchanged.

Time: 4.57 GMT.

GERMAN ECONOMIC DATA

German March industrial output -0.4 pct.

German March trade surplus narrowed to 19.6 billion euros in March.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS ($1 = 0.9149 euros) (Reporting by Harro ten Wolde and Maria Sheahan)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below