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German stocks - Factors to watch on September 14
September 14, 2017 / 5:08 AM / 2 months ago

German stocks - Factors to watch on September 14

BERLIN/FRANKFURT, Sept 14 (Reuters) - The DAX top-30 index looked set to open 0.2 percent lower on Thursday, according to premarket data from brokerage Lang & Schwarz at 0612 GMT.

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

AUTOS

BMW indicated unchanged

Daimler indicated 0.3 percent lower

Volkswagen indicated 0.1 percent higher

German Economy Minister Alexander Dobrindt is due to host a summit on autonomous driving at the Frankfurt auto show.

Separately, a Hanover court is due to rule on a challenge to Volkswagen’s appointment of four supervisory board members, including Chairman Hans Dieter Poetsch, in 2016.

Volkswagen and its Chinese joint ventures FAW-Volkswagen and SAIC Volkswagen will recall 4.86 million vehicles due to issues with air bags supplied by bankrupt auto parts maker Takata Corp, China’s quality watchdog said on Thursday.

Volkswagen’s sportscar maker Porsche will offer a diesel version of its next-generation Cayenne model, the unit’s Chief Executive Oliver Blume told Handelsblatt daily.

Also, fresh data from ACEA showed European car sales rose 5.5 percent in August, accelerating from an increase of 2.6 percent in July.

BAYER

Indicated 0.3 percent lower

Bayer AG is joining a $100 million bet that the next big breakthrough in crop fertilizers will be found inside a biological Petri dish.

DEUTSCHE BANK

Indicated 0.2 percent lower

The bank said it was ‍intending to dispose of part or all of its commitments in certain distressed loan facilities in oil and gas sector.

DEUTSCHE BOERSE

Indicated unchanged

Deutsche Boerse said it has agreed to pay hefty fines for its role in allowing its chief executive to make share purchases which became the subject of insider trading allegations, hoping to draw a line under the case.​

MUNICH RE

Indicated 2.4 percent lower

Munich Re, one of the world’s biggest reinsurance companies, said it could miss its profit target this year due to losses from hurricanes Harvey and Irma.

GERRY WEBER

Indicated unchanged

The group stuck with its full-year guidance as it reported its third-quarter operating profit narrowed to 5.8 million euros.

PATRIZIA IMMOBILIEN

Indicated 1.8 percent higher

The company announced plans for a further share buyback of up to 15 mln eur.

AIR BERLIN

Indicated 6.7 percent higher

Former motor racing driver Niki Lauda will table an offer for parts of insolvent airline Air Berlin together with Thomas Cook’s German carrier Condor, Lauda told Austrian newspaper Kurier.

He plans to offer around 100 million euros jointly with Thomas Cook, he told Austrian radio station ORF on Thursday.

ANALYSTS’ VIEWS

ALLIANZ - SocGen raises to “hold” from “sell”, lifts target price to 180 euros from 155 euros

INFINEON - Goldman Sachs cuts to “neutral” from “buy”

WACKER NEUSON - Deutsche Bank raises to “hold” from “sell”, lifts target price to 26.50 euros from 11 euros

OVERSEAS STOCK MARKETS

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

Nikkei -0.3 pct, Shanghai stocks -0.5 pct.

Time: 6.16 GMT.

GERMAN ECONOMIC DATA

German engineering production should grow another 3 percent next year, the VDMA industry association forecast on Thursday, pointing to positive indications for the United States and Europe even as it expects growth to slow again in China.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Victoria Bryan and Maria Sheahan)

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