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German stocks - Factors to watch on May 12
May 12, 2017 / 5:28 AM / 7 months ago

German stocks - Factors to watch on May 12

BERLIN/FRANKFURT, May 12 (Reuters) - The DAX top-30 index looked set to open slightly higher on Friday, according to premarket data from brokerage Lang & Schwarz at 0635 GMT.

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

ALLIANZ

Indicated 0.1 pct lower

The German insurer reaffirmed its operating profit target for 2017 after underscoring the strength of its bond fund manager PIMCO.

DEUTSCHE BANK

Indicated 0.1 pct lower

Deutsche Bank is reorganising its electronic, currency and rates businesses to bring together electronic trading across all asset classes under a new head, who will report direct to the bank’s management board, the company said in an internal memo on Thursday.

THYSSENKRUPP

Indicated 1.8 pct lower

The German industrial group revised its full-year forecasts on Friday, saying it now expected negative free cash flow as working capital rises due to higher prices for input raw materials and increased sales volumes.

DEUTSCHE WOHNEN

Indicated 0.1 pct lower

The real estate firm confirmed its 2017 outlook after reporting first-quarter FFO increase of 11 percent to 113 million euros.

DEUTSCHE EUROSHOP

Indicated 0.4 pct higher

The company forecast FFO of 140-143 million euros and said it envisaged paying a dividend of 1.45 euros per share for 2017 as it reported first-quarter results.

INNOGY

Indicated 0.2 pct lower

Germany’s largest energy group, on Friday warned prospects in the British retail market sharply deteriorated as a result of fierce competition, adding it no longer expected its troubled Npower unit to turn a profit there.

UNITED INTERNET DRILLISCH

United Internet indicated 3.6 pct higher

Drillisch indicated 7.3 pct higher

United Internet plans to buy a majority in mobile player Drillisch in a stock transaction or alternatively 50 euros per share to create a stronger challenger in the German telecoms market.

BVB

Indicated 0.4 pct higher

Full Q3 results due. The group published preliminary results on May 5, with a net loss of 14.6 million euros.

HAPAG-LLOYD

No indication

The German container shipping firm widened its net loss by 31 percent to 62.1 million euros in the first quarter, citing increasing ship fuel costs and lower achieved freight rates.

HHLA

Indicated 2.7 pct higher

The group reported a 7 percent rise in first-quarter revenues and operating profit of 45.2 million euros. Last week it already hiked its guidance last week, saying it now expected a significant increase in container handling this year.

ANNUAL GENERAL MEETINGS

BASF - 3.00 eur/shr dividend proposed

FRESENIUS - 0.62 eur/shr dividend proposed

PROSIEBENSAT.1 - 1.90 eur/shr dividend proposed

KLOECKNER & CO - 0.20 eur/shr dividend proposed

EX-DIVIDEND

ADIDAS - dividend 2.00 eur/shr

BMW - dividend 3.50 eur/shr

FRESENIUS MEDICAL CARE - dividend 0.96 eur/shr

KION - dividend 0.80 eur/shr

LEONI - dividend 0.50 eur/shr

TALANX - dividend 1.35 eur/shr

GRENKE - dividend 1.75 eur/shr

OVERSEAS STOCK MARKETS

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

Nikkei -0.4 pct, Shanghai stocks +0.5 pct.

Time: 6.36 GMT.

GERMAN ECONOMIC DATA

The German economy grew by 0.6 percent in the first quarter of 2017, driven by higher investment in construction, machinery and equipment, robust household and state spending as well as strong exports, the Federal Statistics Office said on Friday.

German final April inflation. CPI and HICP both flat m/m, +2.0 pct y/y as expected.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Edward Taylor, Victoria Bryan and Harro ten Wolde)

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