May 18, 2017 / 4:53 AM / 4 months ago

German stocks - Factors to watch on May 18

FRANKFURT, May 18 (Reuters) - The DAX top-30 index looked set to open 0.4 percent lower on Thursday, according to premarket data from brokerage Lang & Schwarz at 0605 GMT.

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

MERCK

Indicated 0.5 percent lower

Merck said first-quarter adjusted core earnings rose 14.5 percent, shored up by strong demand for its biotech lab supplies and inflated by an advance drug license payment.

Separately, Merck said late on Tuesday its Glucophage sustained release formulation, metformin, received label extension for patients at high risk of type 2 diabetes in the UK.

THYSSENKRUPP

Indicated 0.6 percent lower

A Tata Steel deal to separate its 15 billion-pound ($19 billion) UK pension scheme still leaves many questions unanswered for a potential merger with Thyssenkrupp’s European steel operations, a source close to Thyssenkrupp said.

VOLKSWAGEN

Indicated 0.7 percent lower

Audi’s Rupert Stadler will be given another five years as chief executive, the company said late on Wednesday, as Volkswagen’s luxury division seeks to demonstrate continuity ahead of its annual shareholder meeting.

Separately, the president of Germany’s association of Volkswagen and Audi partnerships told the Sueddeutsche Zeitung that dealers felt let down by a lack of technical support from Volkswagen in the wake of its diesel-emissions scandal, and that the trust between dealers and VW was “massively harmed”.

SUEDZUCKER

Indicated 0.1 percent lower

Q4 results due.

GRAMMER

Indicated 7.3 percent lower

The auto supplier has lost about 300 million euros in orders during the first quarter as a result of its power struggle with an investor, the company’s supervisory board told German weekly Wirtschaftswoche.

WIRECARD

Indicated 0.6 percent lower

The company confirmed its 2017 outlook after reporting a 31-percent rise in first-quarter EBITDA.

ZOOPLUS

Indicated 0.7 percent higher

The company kept its 2017 outlook after reporting a rise in first-quarter pre-tax profit to 3.4 million euros.

ANNUAL GENERAL MEETINGS

DEUTSCHE BANK - 0.19 eur/shr dividend proposed

DRILLISCH - 1.80 eur/shr dividend proposed

UNITED INTERNET - 0.80 eur/shr dividend proposed

AMADEUS FIRE - 3.66 eur/shr dividend proposed

CAPITAL STAGE - 0.20 eur/shr dividend proposed

AUDI

EX-DIVIDEND

DEUTSCHE BOERSE - dividend 2.35 eur/shr

LEG IMMOBILIEN - dividend 2.76 eur/shr

SYMRISE - dividend 0.85 eur/shr

SOFTWARE AG - dividend 0.60 eur/shr

BET-AT-HOME.COM - dividend 7.50 eur/shr

OVERSEAS STOCK MARKETS

Dow Jones -1.8 pct, S&P 500 -1.8 pct, Nasdaq -2.6 pct at close.

Nikkei -1.3 pct, Shanghai stocks -0.4 pct.

Time: 6.07 GMT.

GERMAN ECONOMIC DATA

No economic data scheduled.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS ($1 = 0.9020 euros) (Reporting by Georgina Prodhan and Harro ten Wolde)

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