July 6, 2017 / 5:17 AM / 16 days ago

German stocks - Factors to watch on July 6

4 Min Read

FRANKFURT, July 6 (Reuters) - The DAX top-30 index looked set to open 0.1 percent higher on Thursday, according to premarket data from brokerage Lang & Schwarz at 0612 GMT.

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

g20 Summit

Draft conclusions to this week's summit of the Group of 20 leading economies acknowledge the United States' isolation in opposing the Paris climate accord but agree to G20 collaboration on reducing emissions through innovation, a G20 source said.

North Korea

The United States cautioned on Wednesday it was ready to use force if need be to stop North Korea's nuclear missile program but said it preferred global diplomatic action against Pyongyang for defying world powers by test launching a ballistic missile that could hit Alaska.

Commerzbank

Indicated 2.4 percent higher

Cerberus is said to mull buying Commerzbank stake, Bloomberg reported.

Siemens

Indicated 0.2 percent higher

Russia has delivered electricity turbines made by Germany's Siemens to Crimea, a region subject to European Union sanctions barring EU firms from supplying it with energy technology, three sources with knowledge of the delivery told Reuters.

Separately, Siemens Gamesa said it had won a contract to supply 94 wind turbines with a capacity of 752 MW to Dong Energy .

Steel

Thyssenkrupp indicated 0.4 percent lower

Salzgitter indicated 0.4 percent higher

Kloeckner indicated 0.1 percent lower

G20 leaders will discuss steel overcapacity at this week's summit in Germany, European officials said, as tensions rise over U.S. President Donald Trump's plan to use a Cold War-era law to restrict steel imports for national security reasons.

Airbus

Up 1.2 percent in early Frankfurt trade

Airbus urged the German government on Wednesday to ensure domestic firms get a big share of a near 4-billion-euro contract earmarked for the country's next generation of heavy-lift military helicopters.

Separately, the company said it had entered exclusive negotiations to sell Vector Aerospace to Standardaero.

Axel Springer

Indicated 0.1 percent lower

The German media giant is in exclusive talks to buy TV channel Sport1 from Constantin Medien, two people familiar with the situation said on Wednesday. Axel Springer is bidding more than 80 million euros ($91 million) for the sport platform, they said.

Fraport

Indicated 0.1 percent higher

Fraport aims to open Pier G at Frankfurt airport for low-cost carriers in 2020, before it launches operations of Terminal 3 in 2023, Chief Executive Stefan Schulte told Die Welt newspaper. In 2020, he expects 68-70 million passengers at Frankfurt, including low-cost traffic.

Hochtief

Indicated 0.1 percent higher

The group's Australian unit CIMIC said it had sold its 23.6 percent stake in Macmahon Holdings for A$46.86 million ($35.6 million), which it said would generate a profit.

Evotec

Indicated 1.2 percent higher

The biotech company said it had received grant funding for a period of two years from IFB Hamburg to identify and develop therapeutic antibodies directed against novel immune-checkpoints on T-cells to improve future cancer treatments.

Overseas Stock Markets

Dow Jones unchanged, S&P 500 +0.1 pct, Nasdaq +0.7 pct at close.

Nikkei -0.4 pct, Shanghai stocks +0.1 pct.

Time: 6.14 GMT.

German Economic Data

German industrial orders rebounded less than expected in May, data showed on Thursday, but the Economy Ministry said it expected this sector of Europe's largest economy to continue gathering momentum.

European Factors to Watch

Diaries

REUTERS TOP NEWS ($1 = 1.3160 Australian dollars) (Reporting by Tom Sims and 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