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German stocks - Factors to watch on January 5
January 5, 2017 / 6:03 AM / a year ago

German stocks - Factors to watch on January 5

BERLIN, Jan 5 (Reuters) - The DAX top-30 index looked set to open 0.4 percent lower on Thursday, according to premarket data from brokerage Lang & Schwarz at 0703 GMT.

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

AUTOS

Daimler indicated 0.5 percent lower

U.S. Dec car sales data. BMW brand sales down 5.2 percent to 32,835 vehicles, VW up 20.3 percent to 37,229 vehicles, Mercedes-Benz U.S. brand sales down 6.4 percent to 32,011 vehicles.

BMW

Indicated 0.3 percent lower

The luxury carmaker said it will use Google smartphone technology to provide customers with interactive experience on its “i” sub-brand electric models.

DEUTSCHE BANK

Indicated 1.6 percent higher

Deutsche Bank agreed to pay $95 million to resolve a U.S. government lawsuit accusing the German bank of tax fraud for using “insolvent” shell companies to hide significant tax liabilities from the Internal Revenue Service in 2000.

VOLKSWAGEN

Indicated 0.2 percent lower

Chief Executive Matthias Mueller will miss the Detroit auto show next week, the German carmaker said on Wednesday, amid uncertainty over its chances of settling a U.S. criminal investigation into its emissions scandal.

Separately, a U.S. judge ruled on Wednesday that Volkswagen AG and former Chief Executive Officer Martin Winterkorn must defend an investor lawsuit in California over the company’s diesel emissions cheating scandal.

MORPHOSYS

Indicated 0.5 percent lower

The company named Malte Peters as its new chief development officer.

ANALYSTS’ VIEWS

ALLIANZ - JP Morgan raises to “Overweight” from “Neutral”

HANNOVER RE - JP Morgan cut to “Underweight” from “Neutral”

TALANX - JP Morgan cuts to “Neutral” from “Overweight”

LINDE - Deutsche Bank cuts to “Hold” from “Buy”; Bernstein raises to “market-perform” from “underperform”

OVERSEAS STOCK MARKETS

Dow Jones +0.3 pct, S&P 500 +0.6 pct, Nasdaq +0.9 pct at close.

Nikkei -0.4 pct, Shanghai stocks +0.2 pct.

Time: 7.06 GMT.

GERMAN ECONOMIC DATA

No economic data scheduled.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Andreas Cremer and Victoria Bryan)

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