May 4, 2017 / 4:59 AM / 6 months ago

German stocks - Factors to watch on May 4

FRANKFURT, May 4 (Reuters) - The DAX top-30 index looked set to open 0.2 percent higher on Thursday, according to premarket data from brokerage Lang & Schwarz at 0602 GMT.

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

U.S. FED

The U.S. Federal Reserve kept interest rates unchanged on Wednesday and downplayed weak first-quarter economic growth while emphasizing the strength of the labour market, in a sign it was still on track for two more rate rises this year.

ADIDAS

Indicated 0.6 percent higher

The sportswear firm reported a bigger-than-expected increase in first-quarter sales and profits on Thursday, helped by strong growth in ecommerce and North America as it keeps up the pressure on arch-rival Nike.

BAYER

Indicated 0.3 percent higher

A federal jury has cleared Bayer and Johnson & Johnson of liability in the first trial to flow out of thousands of lawsuits blaming injuries on the blood thinner Xarelto, the drugmakers said on Wednesday.

BMW

Indicated 0.4 percent higher

Full Q1 results published, with net profit up 31 percent at 2.15 billion euros ($2.34 billion). The carmaker last month reported a 27 percent gain in quarterly pretax profit, benefiting from strong demand in China and a revaluation of its stake in map maker HERE.

DEUTSCHE BANK

Indicated 0.6 percent higher

Deutsche Bank’s asset-management unit agreed to buy two office buildings near London Bridge railway station for about 400 million pounds ($515 million), Bloomberg reported, citing two people with knowledge of the plan.

INFINEON

Indicated 1.3 percent lower

The chipmaker on Thursday reported a 30 percent rise in second-quarter operating profit helped by its automotive and industrial activities.

SIEMENS

Indicated 1.2 percent lower

The industrial group beat market forecasts for orders, revenue and profits in its fiscal second quarter as all of its operations except the healthcare business it plans to spin off exceeded profit expectations.

THYSSENKRUPP

Indicated 0.4 percent higher

The company plans to build a new steel plant in North Rhine-Westphalia to serve the automotive industry, steel boss Andreas Goss was quoted as saying in an interview with Westdeutsche Allgemeine Zeitung.

Also, thousands of Thyssenkrupp steelworkers protested on Wednesday against the German industrial group’s plan to merge its European steel operations with those of India’s Tata Steel .

VOLKSWAGEN

Indicated 0.2 percent higher

Audi results due.

Volkswagen wants to increase the productivity of the plants at its core brand to catch up with rivals, executive Herbert Diess told Sueddeutsche Zeitung.

Separately, Volkswagen said on Wednesday it resumed selling diesel cars in the United States last month, and that they accounted for nearly 12 percent of its April sales.

ALSTRIA OFFICE REIT

Indicated 0.2 percent higher

The group said it signed a contract to lease out an 8,700 square metre commercial space in Neuss.

RHEINMETALL

Indicated 0.9 percent higher

The group affirmed its guidance for the year as it reported a 61 percent jump in first-quarter operating earnings.

TAG IMMOBILIEN

Indicated unchanged

The real estate group reported first-quarter funds from operations that rose to 28.5 million euros from 27.0 million in the fourth quarter.

COMPUGROUP MEDICAL

Indicated 0.5 percent lower

The group reported a slight decline in first-quarter EBITDA to 30 million euros, citing higher costs than normal due to the ramp-up for the Telematics Infrastructure roll-out.

DRAEGERWERK

Indicated 0.5 percent higher

Full Q1 results published. The group put out preliminary figures on April 12 and affirmed its guidance.

FREENET

Indicated 0.3 percent higher

The company confirmed its 2017 guidance after reporting a 13 percent rise in Q1 EBITDA on Wednesday.

DEUTZ

Indicated 0.2 percent higher

The group said it had sold its former Cologne-Deutz site to Gerchgroup for around 125 million euros.

HYPOPORT

Indicated 1.6 percent higher

The group reported a 29 percent jump in first-quarter EBIT and affirmed a forecast for 2017 revenue and earnings growth “just into double figures”.

VTG

Indicated 0.4 percent lower

The group reported a decline in first-quarter EBITDA to 76.6 million euros and affirmed its guidance for a slight increase in revenue and earnings this year.

ANNUAL GENERAL MEETINGS

DEUTZ - 0.07 eur/shr dividend proposed

DIALOG SEMICONDUCTOR - no dividend proposed

MTU AERO ENGINES - 1.90 eur/shr dividend proposed

EX-DIVIDEND

ALLIANZ - dividend 7.60 eur/shr

COVESTRO - dividend 1.35 eur/shr

RATIONAL - dividend 10 eur/shr

WASHTEC - dividend 2.10 eur/shr

ANALYSTS’ VIEWS

LINDE - HSBC raises to “buy” from “hold”, lifts target price to 179 euros from 158 euros

TALANX - Berenberg starts with “hold” rating, 34.20 euros price target

OVERSEAS STOCK MARKETS

Dow Jones unchanged, S&P 500 -0.1 pct, Nasdaq -0.4 pct at close.

Japanese markets closed, Shanghai stocks -0.1 pct.

Time: 6.06 GMT.

GERMAN ECONOMIC DATA

German final April Markit PMI due at 0755 GMT. Services PMI seen flat at 54.7 points, composite PMI unchanged at 56.3.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS ($1 = 0.9161 euros) ($1 = 0.7768 pounds) ($1 = 0.9181 euros) (Reporting by Victoria Bryan and Maria Sheahan)

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