June 20, 2017 / 5:10 AM / a month ago

German stocks - Factors to watch on June 20

3 Min Read

FRANKFURT, June 20 (Reuters) - The DAX top-30 index looked set to open 0.4 percent higher on Tuesday, according to premarket data from brokerage Lang & Schwarz at 0620 GMT.

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

Brexit

The British and EU Brexit negotiators agreed how to organise talks on Britain's divorce at a first meeting in Brussels on Monday, where both sides stressed goodwill but also the huge complexity and tight deadline.

Commerzbank

Indicated 0.3 percent higher

Commerzbank is creating a new division, Big Data & Advanced Analytics, to push its digitalisation, Boersen-Zeitung reported, citing an internal memo.

Prosiebensat.1

Indicated 0.3 percent higher

The broadcaster said it was selling Sweden-based Etraveli Holding to CVC Capital Partners as part of a review of its online travel businesses.

Steel

Salzgitter indicated 0.4 percent higher

Thyssenkrupp indicated 0.3 percent higher

German Economy Minister Brigitte Zypries has written a letter to U.S. Commerce Secretary Wilbur Ross in which she criticised Washington's plans to take action against steel imports, a German newspaper reported.

Volkswagen

Indicated 0.6 percent higher

German consumer protection minister Heiko Maas has called on Volkswagen to extend a deadline for its customers in Germany to pursue claims, according to daily Handelsblatt. "That would be an important signal to regain lost trust," he told the paper.

Separately, workers at Volkswagen's Slovak factory are due to go on strike over demands for a higher wage rise.

Zalando

Indicated 0.1 percent higher

Capital Markets Day due.

Evotec

Indicated 1.0 percent higher

The biotech group said it was participating in Facio Therapies 2017 funding round worth 4.8 million euros ($5.36 million) and would carry out all discovery work for the Dutch company.

Wirecard

Indicated 0.6 percent higher

The company said it had signed a deal with Veon under which the German group will handle mobile phone credit top-ups as well as payment services on Veon's internet platform.

Vtg

Indicated 0.5 percent higher

The rail car rental company is sticking with its forecasts for 2017 and could finance larger acquisitions if there was a good opportunity, its Chief Executive Heiko Fischer told Boersen-Zeitung in an interview.

Annual General Meetings

KRONES - 1.55 eur/shr dividend proposed

CANCOM - 0.50 eur/shr dividend proposed

WIRECARD - 0.16 eur/shr dividend proposed

Analysts' Views

MUNICH RE - Deutsche Bank raises to "hold" from "sell", lifts target price to 170 euros from 164 euros

Overseas Stock Markets

Dow Jones +0.7 pct, S&P 500 +0.8 pct, Nasdaq +1.4 pct at close.

Nikkei +0.8 pct, Shanghai stocks -0.1 pct.

Time: 6.21 GMT.

German Economic Data

German May producer prices -0.2 pct m/m, +2.8 pct y/y. Had been seen -0.1 pct m/m, +2.9 y/y.

European Factors to Watch

Diaries

REUTERS TOP NEWS ($1 = 0.8961 euros) (Reporting by Maria Sheahan)

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