June 15, 2017 / 6:25 AM / 3 months ago

German stocks - Factors to watch on June 15

BERLIN, June 15 (Reuters) - - The DAX top-30 index looked set to open flat on Thursday, according to premarket data from brokerage Lang & Schwarz at 0624 GMT.

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

DEUTSCHE BANK

Indicated 0.9 percent higher

Deutsche Bank is reorganising its corporate and investment banking division, including creating a separate business for its equity, debt and leveraged capital markets operations, Bloomberg reports; the newly-created global capital markets division to be headed by Alexander Von Zur Muehlen, Mark Fedorcik.

HAPAG-LLOYD

Indicated 0.4 percent lower

Hapag-Lloyd’s integration of Arab peer UASC is on track and has so far not been affected by Qatar’s rift with its neighbours, the CEO of the German shipping company tells Reuters.

MERCK KGAA

Indicated 0.1 percent lower

The drugmaker said Australian authorities have granted it patent rights over the use of CRISPR genome-editing technology.

VOLKSWAGEN

Indicated 0.3 percent higher

Volkswagen Group Japan KK senior executive Thomas Siebert was arrested on suspicion of using an illegal stimulant, the company said.

STROEER

Indicated down 1.8 percent (trading ex-dividend)

The out-of-home advertising group confirmed 2017 financial targets and said its general meeting agreed a dividend increase.

SHW

Austrian industrial firm Pierer Industrie AG has issued a takeover offer to SHW shareholders.

ANNUAL GENERAL MEETINGS

BERLINER EFFEKTENGESELLSCHAFT - 0.50 eur/shr dividend proposed

ANALYSTS’ VIEWS

E.ON - HSBC raises target price to 7.9 euros from 6.5 euros

RWE - HSBC raises to BUY from HOLD, raises target price to 22.5 euros from 17.2 euros

INNOGY - HSBC raises to HOLD from REDUCE, raises target price to 36 euros from 31 euros

UNIPER - HSBC raises target price to 18.9 euros from 17.3 euros

OVERSEAS STOCK MARKETS

Dow Jones +0.2 pct, S&P 500 -0.1 pct, Nasdaq -0.4 pct at close.

Nikkei -0.3 pct, Shanghai stocks unchanged.

Time: 5.09 GMT.

GERMAN ECONOMIC DATA

No economic data scheduled.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Emma Thomasson and Andreas Cremer.)

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