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German stocks - Factors to watch on September 15
September 15, 2017 / 5:17 AM / 5 days ago

German stocks - Factors to watch on September 15

BERLIN/FRANKFURT, Sept 15 (Reuters) - The DAX top-30 index looked set to open 0.1 percent lower on Friday, according to premarket data from brokerage Lang & Schwarz at 0610 GMT.

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

NORTH KOREA

North Korea fired a missile that flew over Japan’s northern Hokkaido far out into the Pacific Ocean on Friday, South Korean and Japanese officials said, deepening tensions after Pyongyang’s recent test of its most powerful nuclear bomb.

ECB

The European Central Bank will announce in October a six-month extension to its asset purchase programme but will cut how much it buys each month to 40 billion euros ($47.7 billion) from January, a Reuters poll of economists found.

AIR BERLIN

Indicated 7.6 percent higher

Deadline for bidders to submit offers for the insolvent airline’s assets.

A decision on who will buy the assets has been postponed and will be taken on Sept. 25, the day after German national elections, a spokesman for Air Berlin said late on Thursday.

AUTOS

BMW indicated 0.1 percent higher

Daimler indicated unchanged

Volkswagen indicated unchanged

The Green party blasted carmakers for presenting new fuel-guzzling models at the Frankfurt auto show, saying in a letter they sent to the chiefs of Volkswagen, Daimler, BMW, Opel and Ford that their lineup was not “future-oriented”, German daily Rheinische Post quoted the letter as saying.

Also, power utilities, tech start-ups and oil majors are fighting to establish themselves as the dominant players in the fast-growing business of charging stations – but advances in electric vehicles means where they build them is changing.

BAYER

Indicated 0.1 percent higher

Bayer is prepared to decide in the fourth quarter on asset sales to win regulatory approval for its planned takeover of Monsanto, board member Liam Codon told WirschaftsWoche weekly.

Separately, the U.S. Food and Drug Administration said on Thursday it has approved the chemicals group’s treatment for follicular lymphoma, a cancer of the lymph system.

DEUTSCHE POST

Indicated 0.6 percent higher

Some 5,300 parcel delivery jobs in Germany are unfilled, indicating a possible bottleneck for the busy Christmas season, WirtschaftsWoche weekly quoted a spokesman for Germany’s employment agency as saying.

DEUTSCHE TELEKOM

Indicated 0.1 percent lower

T-Mobile US said at an investor conference it was “looking good” in the third quarter.

MUNICH RE

Indicated 0.2 percent higher

Munich Re and Swiss Re have cut or shrunk projects with IBM’s Watson supercomputer because it did not provide the value hoped for, WirtschaftsWoche weekly reported, citing company sources at both reinsurers.

ANALYSTS’ VIEWS

E.ON - SocGen cuts to “hold” from “buy”

RWE - SocGen cuts to “hold” from “buy”

AURUBIS - Credit Suisse cuts to “neutral” from “outperform”, cuts price target to 72.16 from 79 euros

COVESTRO - Goldman Sachs raises to “neutral” from “sell”

INNOGY - JP Morgan starts with “neutral”, 38 euros price target

METRO - Raymond James starts with “outperform”, target price 21 euros

UNIPER - SocGen cuts to “hold” from “buy”

OVERSEAS STOCK MARKETS

Dow Jones +0.2 pct, S&P 500 -0.1 pct, Nasdaq -0.5 pct at close.

Nikkei +0.5 pct, Shanghai stocks -0.7 pct.

Time: 6.12 GMT.

GERMAN ECONOMIC DATA

No economic data scheduled.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS ($1 = 0.8395 euros) (Reporting by Andreas Cremer and Maria Sheahan)

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