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German stocks - Factors to watch on January 6
January 6, 2017 / 6:16 AM / a year ago

German stocks - Factors to watch on January 6

FRANKFURT, Jan 6 (Reuters) - The DAX top-30 index looked set to open 0.2 percent lower on Friday, according to premarket data from brokerage Lang & Schwarz at 0717 GMT.

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

DAIMLER

Indicated unchanged

Nissan is halting joint development of luxury cars with Daimler’s Mercedes-Benz, sources close to the companies told Reuters, suspending a key project in their seven-year partnership and potentially hitting profitability at a new shared factory in Mexico.

DEUTSCHE BANK

Indicated 0.1 percent higher

Low-cost carrier Frontier Airlines has hired investment banks, including Deutsche Bank AG, to plan an initial public offering, The New York Times reported, citing people familiar with the matter.

DEUTSCHE TELEKOM

Indicated 0.1 percent lower

Deutsche Telekom’s T-Mobile US unit said preliminary prepaid net additions reached 541,000 in the fourth quarter, below the estimate of 594,000 expected by market research firm FactSet StreetAccount.

INFINEON

Indicated unchanged

Infineon CEO Reinhard Ploss told Handelsblatt in an interview he expects slower growth in the semiconductor industry to trigger more consolidation in the industry and expects Infineon to play an active role in the process.

BRAAS MONIER

Indicated 0.6 percent lower

Standard Industries’ $1.2 billion offer for the German roof tile maker is due to end at midnight on Friday. An additional acceptance period is to run from Jan. 12 to 25.

ANALYSTS’ VIEWS

CONTINENTAL - Societe General raises to “buy” from “hold”

WIRECARD - Exane BNP Paribas cuts to “neutral” from “outperform”

BRAAS MONIER - HSBC lowers to “hold” from “buy”

OVERSEAS STOCK MARKETS

Dow Jones -0.2 pct, S&P 500 -0.1 pct, Nasdaq +0.2 pct at close.

Nikkei -0.3 pct, Shanghai stocks -0.4 pct.

Time: 0714 GMT.

GERMAN ECONOMIC DATA

Weak demand both at home and abroad drove a bigger-than-expected fall in German industrial orders in November, marking a slight correction after a surge in the prior month, data showed on Friday.

German retail sales rose by between 1.8 and 2.1 percent on the year in 2016 in real terms, a slightly slower growth rate than in the previous year, data showed on Friday.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Emma Thomasson and Christoph Steitz)

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