June 7, 2017 / 5:02 AM / 4 months ago

German stocks - Factors to watch on June 7

FRANKFURT, June 7 (Reuters) - The DAX top-30 index looked set to open 0.2 percent lower 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:

BAYER, COVESTRO

Bayer indicated 0.1 percent higher

Covestro shares down 0.6 pct in early Frankfurt trading

Bayer has reduced its stake in plastics and chemicals subsidiary Covestro to 44.8 percent from 53.3 percent after selling 17.25 million shares as part of a plan to sever ownership ties completely in the medium term.

E.ON, RWE, ENBW

E.ON indicated 0.2 percent higher

RWE indicated 0.5 percent higher

EnBW shares down 1 pct in early Frankfurt trading

Germany’s highest court will on Wednesday announce a long-awaited decision that will ultimately determine whether the country’s utilities will get back nearly 6 billion euros in taxes they paid for their use of nuclear fuel rods.

STEINHOFF

The group said operating profit rose by 15 percent to 534 million euros in the first half of its fiscal year.

ANNUAL GENERAL MEETINGS

JENOPTIK - 0.25 eur/shr dividend proposed

ADLER REAL ESTATE - no dividend proposed

OVERSEAS STOCK MARKETS

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

Nikkei +0.1 pct, Shanghai stocks +1.0 pct.

Time: 5.00 GMT.

GERMAN ECONOMIC DATA

German industrial orders dropped way more than expected in April, data showed on Wednesday, suggesting this sector of Europe’s largest economy started the second quarter on a weak footing.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS ($1 = 0.8879 euros) (Reporting by Ludwig Burger and Harro ten Wolde)

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