September 12, 2017 / 5:05 AM / 2 months ago

German stocks - Factors to watch on September 12

FRANKFURT/BERLIN, Sept 12 (Reuters) - The DAX top-30 index looked set to open 0.3 percent higher on Tuesday, according to premarket data from brokerage Lang & Schwarz at 0605 GMT.

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

AUTOS

BMW indicated +0.3 pct, Daimler +0.3pct, VW +0.6 pct

First media day of the IAA Frankfurt auto show due.

Volkswagen is stepping up its shift to electric cars and plans to invest more than 20 billion euros ($24 billion) in zero-emission vehicles by 2030 to challenge pioneer Tesla in creating a mass market.

Also, an EU court ruling is due on aid for BMW electric car production in Leipzig.

DEUTSCHE BANK

Indicated 1 pct higher

The U.S. Justice Department on Monday charged Deutsche Bank’s former head of subprime mortgage trading with civil fraud in connection with conduct dating back to the 2007-2009 financial crisis.

DEUTSCHE BOERSE

Indicated 0.1 pct higher

Deutsche Boerse’s management board reportedly due to discuss prosecutors’ offer to settle an insider trading probe against CEO Carsten Kengeter.

FRAPORT

Indicated 0.4 pct higher

Passengers numbers at Frankfurt airport rose 5 percent in August, the tenth consecutive month in which they increased.

UNIPER

Indicated 0.4 pct higher

The company’s management team is convinced Uniper has a good future as an independent listed company, CEO Klaus Schaefer was quoted as saying by Handelsblatt. “I see no other set up that would be better for us and our shareholders,” he said.

AIR BERLIN

The insolvent airline said it was cancelling flights today for operational reasons, without giving further details.

ANALYSTS’ VIEWS

DEUTSCHE PFANDBRIEFBANK - HSBC raises to “Buy” from “Hold”

OVERSEAS STOCK MARKETS

Dow Jones +1.2 pct, S&P 500 +1.1 pct, Nasdaq +1.1 pct at close.

Nikkei +1.2 pct, Shanghai stocks unchanged.

Time: 6.06 GMT.

GERMAN ECONOMIC DATA

No economic data scheduled.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Georgina Prodhan and Victoria Bryan)

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