May 22, 2017 / 5:10 AM / 6 months ago

German stocks - Factors to watch on May 22

FRANKFURT, May 22 (Reuters) - The DAX top-30 index looked set to open 0.3 percent higher on Monday, according to premarket data from brokerage Lang & Schwarz at 0602 GMT.

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

GREECE

Euro zone finance ministers and the International Monetary Fund will seek a deal on Monday on Greek debt relief that balances the IMF’s demand for a clear “when and how” with Germany’s preference for “only if necessary” and “details later”.

NORTH KOREA

North Korea said on Monday it had successfully tested an intermediate-range ballistic missile to confirm the reliability of the late-stage guidance of the warhead, indicating further advances in the ability to hit U.S. targets.

TRUMP

President Donald Trump urged Arab and Islamic leaders on Sunday to unite and do their share to defeat Islamist extremists, making an impassioned plea to “drive out” terrorists while toning down his own harsh rhetoric about Muslims.

BMW

Indicated 0.2 percent HIGHER

The luxury carmaker expects its research and development budget, when measured as a percentage of sales, to rise in 2018, its CFO told a German paper.

DAIMLER

Indicated 0.2 percent higher

Daimler is buying a 15-percent stake in Hong Kong-based Mercedes dealer Lei Shing Hong for a low three-digit million-euro sum, newspaper Frankfurter Allgemeine Zeitung said, citing the German carmaker’s finance chief Bodo Uebber.

DEUTSCHE BOERSE

Indicated 0.2 percent higher

Chief Executive Carsten Kengeter’s lawyers are in talks with Frankfurt prosecutors to end an insider trading investigation Kengeter, daily Handelsblatt reported, citing no sources.

DEUTSCHE TELEKOM

Indicated 0.3 percent higher

Standard & Poor’s revises its outlook on T-Mobile US to “developing” from credit watch “positive”, with a “BB” rating.

VOLKSWAGEN

Indicated 0.3 percent higher

Audi, a unit of Volkswagen, said on Saturday it had struck a deal with its dealers in China, effectively resolving a dispute that could have disrupted the luxury carmaker’s business in the world’s biggest auto market.

Separately, Bloomberg cited sources as saying buyout firms such as Permira and CVC Capital Partners as well as companies in the industry including India’s Hero were weighing bids for VW’s Italian motorcycle brand Ducati.

In addition, the U.S. Environmental Protection Agency and California Air Resources Board on Friday announced approval of a fix for about 84,000 older Volkswagen diesel vehicles that can emit excess emissions.

AIRBUS

Up 0.4 percent in early Frankfurt trade

Airbus said it had appointed an independent compliance review panel composed of external consultants to support a criminal investigation by the UK Serious Fraud Office.

EVOTEC

Indicated 4 percent higher

The group said it was receiving a milestone payment of around 5 million euros related to its alliance with Bayer for the treatment of endometriosis.

PFEIFFER VACUUM

Indicated 0.1 percent higher

Pfeiffer Vacuum should remain independent and not be delisted, Sami Busch, a manager at suitor Busch, told Frankfurter Allgemeine Zeitung.

HYPOPORT

Indicated 0.8 percent higher

The financial services group expects sales and profits to grow in the low double-digit percentage range this year and in subsequent years, its Chief Executive Ronald Slabke told Welt am Sonntag in an interview, adding takeovers would help it do so.

TELE COLUMBUS

Indicated 0.9 percent higher

The group affirmed its 2017 guidance for around 10 percent core profit growth as it reported first-quarter results.

TLG IMMOBILIEN

Indicated 1.2 percent higher

The real estate group said it had rented out around 1,200 square metres of its recently acquired Kapweg property in Berlin, with the local district office and car rental company Europcar signing separate leases.

IPO

IPO-candidates Delivery Hero, an online food takeaway firm in which Rocket Internet owns about a third, and German privately-owned restaurant chain Vapiano are both eyeing a listing in the summer, weekly Frankfurter Allgemeine Sonntagszeitung reported, citing no sources.

EX-DIVIDEND

WACKER CHEMIE - dividend 2.00 eur/shr

ANALYSTS’ VIEWS

DEUTSCHE TELEKOM - Goldman Sachs raises to “buy”, adds to convicition list

RWE - HSBC raises to “hold”, raises target price to 17.20 euros from 13.40 euros

DMG MORI AG - HSBC cuts to “reduce” from “hold”

OVERSEAS STOCK MARKETS

Dow Jones +0.7 pct, S&P 500 +0.7 pct, Nasdaq +0.5 pct at close.

Nikkei +0.5 pct, Shanghai stocks -0.5 pct.

Time: 6.10 GMT.

GERMAN ECONOMIC DATA

No economic data scheduled.

Germany’s economic upswing will lose some momentum in coming months after Europe’s biggest economy enjoyed a solid start to the year, the Finance Ministry said in its monthly report on Monday.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Maria Sheahan and Christoph Steitz)

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