June 21, 2017 / 5:11 AM / 3 months ago

German stocks - Factors to watch on June 21

FRANKFURT, June 21 (Reuters) - The DAX top-30 index looked set to open 0.3 percent lower on Wednesday, according to premarket data from brokerage Lang & Schwarz at 0612 GMT.

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

DEUTSCHE TELEKOM SCOUT24

Deutsche Telekom indicated 0.6 percent higher

No indication available for Scout24

The German telecoms operator said on Tuesday it intends to sell its entire 9.3 percent stake in Scout24 via an accelerated bookbuilding process. Scout24 management intends to place around 300,000 shares, representing about 0.3 percent of outstanding shares.

GRAND CITY PROPERTIES

Indicated 1.2 percent lower

The real estate company announced a successful placement of new shares from a capital increase.

AIR BERLIN

Indicated 2.2 percent higher

The struggling German airline no longer needs state guarantees and will therefore not ask for it, Chief Executive Thomas Winkelmann told newspaper Tagesspiegel.

ANNUAL GENERAL MEETINGS

QIAGEN - no dividend proposed

HHLA - 0.59 eur/shr dividend proposed

TELE COLUMBUS - no dividend proposed

EX-DIVIDEND

KRONES - dividend 1.55 eur/shr

CANCOM - dividend 0.50 eur/shr

WIRECARD - dividend 0.16 eur/shr

ANALYSTS’ VIEWS

FRAPORT - Goldman Sachs raises price target to 80 euros from 57 euros

HEIDELBERGCEMENT - HSBC raises target price to 120 euros from 117 euros; rating “buy”. JP Morgan raises price target to 91 euros from 86 euros.

OVERSEAS STOCK MARKETS

Dow Jones -0.3 pct, S&P 500 -0.7 pct, Nasdaq -0.8 pct at close.

Nikkei -0.5 pct, Shanghai stocks unchanged.

Time: 6.05 GMT.

GERMAN ECONOMIC DATA

No economic data scheduled.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Harro ten Wolde and Tom Sims)

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