March 23, 2017 / 6:13 AM / 9 months ago

German stocks - Factors to watch on March 23

BERLIN, March 23 (Reuters) - The DAX top-30 index looked set to open 0.3 percent higher 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

BMW indicated 0.3 percent higher

Daimler indicated 0.4 percent higher

Volkswagen indicated 0.5 percent higher

BMW’s X1 model will be built in the Netherlands a step which boosts staff levels at Mini’s contract manufacturer VDL Nedcar beyond those at the German carmaker’s plant in Oxford, England, where the Mini hatch is made.

The cost to implement tough fuel-efficiency standards for cars imposed by the Obama administration for the first half of the next decade could be up to 40 percent lower than previously estimated using existing conventional technologies, according to a report from a nonprofit group released on Wednesday.

Also, British car production hit a 17-year high in February, extending a recent trend of surging output as a strong rise in exports once again compensated for a slump in demand at home, an industry body said on Thursday.

And Chinese automaker Chery Automobile Co Ltd has filed a complaint with the country’s trademark regulator over Mercedes-Benz’s use of the “EQ” name for a line of green-energy vehicles, throwing up a potential road block for the Daimler unit in the world’s largest electric car market.

BASF

Indicated 0.2 percent higher

The group said its leather chemicals business would become part of Stahl Group. In exchange, it will receive a 16 percent stake in Stahl Group and supply agreements.

CONTINENTAL AG

Indicated 0.3 percent higher

Annual report due. The group published results already on March 2, reinforced expectations for higher sales this year and announced a dividend hike.

SIEMENS

Indicated 0.2 percent higher

Dozens of German companies including Siemens attended meetings in Bolivia this week to discuss building a coast-to-coast railway through Brazil, Bolivia and Peru that could speed up the export of corn and soybeans to Asia, German and Bolivian officials said on Wednesday.

CTS EVENTIM

Indicated 0.2 percent higher

Full Q4 results due. The group reported preliminary figures on Feb. 16, with full-year revenues stable and normalised EBITDA climbing 7.4 percent.

JUNGHEINRICH

Indicated 0.4 percent higher

The forklift truck maker will for now focus on organic growth, though smaller acquisitions are possible, for instance if they complement the product palette or give access to new markets, Chief Executive Hans-Georg Frey told Boersen-Zeitung.

KRONES

Indicated 0.2 percent lower

The group said it was hiking its dividend for 2016 to 1.55 euros per share from 1.45 euros a year earlier.

LEONI

Indicated 0.7 percent higher

Full Q4 results due. The automotive supplier already reported preliminary results on Feb. 13 and proposed a dividend of 0.50 euros per share.

RATIONAL

Indicated 0.6 percent lower

The group said it expected its 2017 EBIT margin to come in closer to the lower end of its long-term aim of 26 to 28 percent. It also announced a special dividend of 2 euros per share for 2016, in addition to a regular dividend of 8 euros.

RHEINMETALL

Indicated 0.6 percent higher

Full Q4 results. The defence and automotive group already reported preliminary figures on March 1, with a better-than-expected 23 percent year-on-year rise in 2016 operating profit.

TAG IMMOBILIEN

Indicated 0.6 percent higher

The group published its annual report. It had reported preliminary results on Feb. 23, raised its forecast for 2017 and proposed a dividend of 0.57 euros per share.

DRILLISCH

Indicated 0.1 percent higher

Full Q4 results due. The group already reported preliminary figures on Feb. 22, affirmed its 2017 EBITDA forecast and hiked its dividend to 1.80 euros per share.

FREENET

Indicated 0.5 percent higher

Full Q4 results due. The group reported preliminary figures on March 2 and announced a dividend of 1.60 euros per share.

MORPHOSYS

Indicated 0.3 percent higher

The group said its chief scientific officer Marlies Sproll was taking temporary leave and would be replaced by Markus Enzelberger in the interim.

PFEIFFER VACUUM

Indicated 1 percent higher

The vacuum pump maker said it expected its full-year sales to rise significantly, after year-to-date order intake jumped 20 percent.

UNITED INTERNET

Indicated 1.9 percent higher

The group said it expected its EBITDA to rise by about 12 percent this year, after an 11 percent increase in 2016, and raised its dividend to 0.80 euros per share.

CEWE

Indicated 3 percent lower

The group said it expected its 2017 EBIT to come to 45 to 51 million euros, as it reported full fourth-quarter results.

HORNBACH HOLDING

Down 0.4 percent in early Frankfurt trade

The group said its 2016/17 sales rose 4.9 percent to 3.94 billion euros.

MLP

Indicated 0.3 percent lower

Annual report due. The group reported preliminary results on Feb. 23, said it expected its 2017 EBIT to rise to at least 45 million euros and proposed a dividend of 0.08 euros per share.

VOSSLOH

Indicated 0.2 percent lower

The group said it expected its EBIT margin to rise to 5.5 to 6.0 percent this year from 5.4 percent in 2016.

ZOOPLUS

Indicated 0.5 percent lower

The group reported its 2016 pretax profit rose to 17.9 million euros, from 12.7 million a year earlier.

AUMANN

The group said it decided to issue 1.5 million new shares as part of its initial public offering.

ANALYSTS’ VIEWS

Deutsche Bank’s European equity strategists on Thursday said they had “overweight” positions on the UK and Switzerland and “underweight” positions on Germany and France, with political risks one of the negative factors for the French market.

OVERSEAS STOCK MARKETS

Dow Jones unchanged, S&P 500 +0.2 pct, Nasdaq +0.5 pct at close.

Nikkei +0.2 pct, Shanghai stocks +0.1 pct.

Time: 7.14 GMT.

GERMAN ECONOMIC DATA

German consumer sentiment unexpectedly fell to its lowest level in five months going into April, a survey showed on Thursday, partly due to people’s concerns that rising inflation will erode their purchasing power.

Germany’s large current account surplus is the result of the competitiveness of the German economy and the government has no influence over it, the finance ministry said in a report on Thursday, adding that the surplus will shrink in coming years.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Emma Thomasson and Maria Sheahan)

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