July 7, 2017 / 5:29 AM / 15 days ago

German stocks - Factors to watch on July 7

3 Min Read

FRANKFURT, July 7 (Reuters) - The DAX top-30 index looked set to open 0.1 percent lower on Friday, according to premarket data from brokerage Lang & Schwarz at 0630 GMT. The following are some of the factors that may move German stocks:


VW shares indicated 0.1 percent lower

The U.S. Justice Department said on Thursday it charged a former Audi manager with directing employees at the company, a division of Volkswagen AG, to design software to cheat U.S. emissions tests in thousands of Audi diesel cars.


Indicated 0.3 percent lower

Chief Executive Kasper Rorsted has a turnaround plan to return Reebok back to profitability within the next four years Focus magazine said.


Indicated unchanged

BMW is seeking damages from automotive parts supplier Bosch after a shortage of steering components slowed production worth a two-digit million euro sum, BMW head of production Markus Duesmann tells the Handelsblatt and Stuttgarter Zeitung. By 2019 BMW is seeking savings of up to 1 billion from procurement.

Deutsche Bank

Indicated 0.1 percent lower

U.S. authorities have tried to seize millions of dollars associated with several companies that deal with North Korea, including the country's military, from eight large international banks, including Deutsche Baank, according to court filings made public on Thursday.


Indicated 1.4 percent higher

Activist investor Elliott is said to be building a stake in Stada, Bloomberg said, citing sources.


Raised its earnings forecast. Expects EBITDA of more than 650 mln eur.


Shares indicated 8.9 percent lower

Swedish truck maker AB Volvo is selling its 25 percent stake in the German specialty diesel engine maker, the bookrunner for the deal said on Thursday.

Annual General Meetings

HORNBACH HOLDING - 1.50 eur/shr dividend proposed

Analysts' Views

PROSIEBEN - Exane BNP Paribas cuts to neutral from outperform

INNOGY - Goldman Sachs raises to buy from neutral

Overseas Stock Markets

Dow Jones -0.7 pct, S&P 500 -0.9 pct, Nasdaq -1 pct at close.

Nikkei -0.3 pct, Shanghai stocks +0.2 pct.

Time: 6.37 GMT.

German Economic Data

German May industrial output due at 0600 GMT. Seen +0.3 pct m/m.

European Factors to Watch


REUTERS TOP NEWS (Reporting by Emma Thomasson and Edward Taylor)

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