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German stocks - Factors to watch on August 11
August 11, 2017 / 5:16 AM / 2 months ago

German stocks - Factors to watch on August 11

BERLIN/FRANKFURT, Aug 11 (Reuters) - The DAX top-30 index looked set to open 0.4 percent lower on Friday, according to premarket data from brokerage Lang & Schwarz at 0618 GMT.

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

ALLIANZ

Indicated 0.7 percent lower

The Pimco Income Fund, overseen by group chief investment officer Dan Ivascyn, attracted inflows of $2.65 billion in July, bringing the fund’s total net assets to $92 billion, Morningstar data showed on Thursday.

A senior company representative is taking legal action against Allianz, accusing the insurer of falsely registering contracts to the effect of shrinking pension claims of many of its more than 8,000 agents, Sueddeutsche Zeitung reported.

DEUTSCHE BOERSE

Indicated 0.1 percent lower

The exchange operator’s supervisory board has not seriously considered contingency plans in case CEO Carsten Kengeter has to step down and is not searching for an external candidate to replace him, Frankfurter Allgemeine Zeitung reported, citing no sources.

VOLKSWAGEN

Indicated 0.3 percent lower

July group and namesake brand sales due.

DEUTSCHE WOHNEN

Indicated 1.2 percent lower

The group raised its guidance for 2017 rental growth but affirmed its other forecasts as it reported first-half financial results.

INNOGY

Indicated unchanged

Germany’s largest energy group said on Friday it added about 50,000 customers in Britain in the second quarter, a key step in the group’s effort to restructure its troubled local unit Npower.

KION

Down 1.1 percent in early Frankfurt trade

Index provider MSCI said late on Thursday it would add Kion to its MSCI World Index.

CANCOM

Indicated 0.1 percent lower

Q2 results due. EBITDA seen up 12 percent at 19.1 million euros. Poll:

SOFTWARE AG

Indicated 0.4 percent lower

Q2 report due. The group already reported results on July 18, raising its full-year profit forecast.

UNITED INTERNET

Indicated 0.9 percent lower

The IPO of United Internet’s Business Applications business will come rather sooner than later, Chief Executive Ralph Dommermuth told German daily Boersen-Zeitung.

STABILUS

Indicated 3.5 percent higher

The group raised its full-year revenue guidance to around 910 million euros and forecast an adjusted EBIT margin of around 15 percent.

TLG IMMOBILIEN

Indicated 0.1 percent higher

The real estate company raised its 2017 FFO forecast to 90 to 92 million euros as it reported results.

WUESTENROT & WUERTTEMBERGISCHE

Indicated 0.5 percent lower

Q2 results due.

ANALYSTS’ VIEWS

DEUTSCHE BANK - HSBC cuts to “reduce” from “hold”

BRENNTAG - Credit Suisse cuts to “neutral” from “outperform”, cuts target price to 47.50 euros from 60 euros.

OHB - HSBC cuts to “hold” from “buy”

OVERSEAS STOCK MARKETS

Dow Jones -0.9 pct, S&P 500 -1.4 pct, Nasdaq -2.1 pct at close.

Japanese markets closed, Shanghai stocks -1.6 pct.

Time: 6.22 GMT.

GERMAN ECONOMIC DATA

German final July inflation data shows CPI +0.4 pct m/m, +1.5 pct y/y.

German July wholesale prices -0.1 pct m/m, +2.2 pct y/y.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Andreas Cremer and Maria Sheahan)

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