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German stocks - Factors to watch on March 12
March 12, 2015 / 5:57 AM / 3 years ago

German stocks - Factors to watch on March 12

FRANKFURT, March 12 (Reuters) - Germany’s DAX top-30 index was set to open 0.3 percent higher on Thursday, according to premarket data from brokerage Lang & Schwarz at 0721 GMT.

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

DEUTSCHE BANK

Indicated 0.6 percent lower

The U.S. unit of Deutsche Bank failed an annual check-up by the Federal Reserve to withstand a hypothetical financial crisis.

LUFTHANSA

Indicated 0.2 percent higher

The airline said it expected ticket prices to fall further in 2015 and that it could not let up on cost-cutting measures, even though it faces more strikes from its pilots.

K+S

Indicated 1.4 percent higher

The potash miner said it expected a significant gain in earnings this year, helped by a recovery in potash prices and by a strong U.S. dollar boosting the value of overseas sales.

HUGO BOSS

Down 3.7 percent in early Frankfurt trade

German fashion house Hugo Boss on Thursday scrapped its sales target for 2015 due to slower luxury spending in Europe and China.

RWE

Indicated 0.2 percent higher

Russian billionaire Mikhail Fridman’s LetterOne fund said it had submitted detailed information to the British government as it tries to salvage a deal to buy North Sea assets from Germany’s RWE and avoid a legal clash.

THYSSENKRUPP

Indicated 0.2 percent higher

Aperam, financial investor Lindsay Goldberg Vogel and a consortium led by former Schmolz+Bickenbach chief Benedikt Niemeyer are set to submit bids for ThyssenKrupp’s VDM unit by a Monday deadline, German daily Handelsblatt reported, citing sources.

VOLKSWAGEN

Indicated 0.9 percent higher

Full 2014 results due. The carmaker already reported key figures on Feb. 27, with operating profit up 8.8 percent at 12.7 billion euros.

Separately, Dutch car leasing company LeasePlan, which is 50-pecent owned by Volkswagen said it was in talks on the sale of the company.

The Wall Street Journal reported that a consortium around financial investor TDR Capital was close to buying LeasePlan for more than 3 billion euros, citing people familiar with the situation.

AIRBUS

Indicated 0.4 percent higher in early Frankfurt trade

Airbus Helicopters is in the final stages of talks that could land it a contract worth at least $3 billion for the development and production of military and civil helicopters in South Korea, French media said on Wednesday.

CELESIO

Indicated 1.4 percent lower

The drugs distributor said late on Wednesday it would apply to have its shares delisted from the stock exchange.

DEUTSCHE ANNINGTON

No indication available

The real estate copmany said it had completed the takeover of Gagfah.

DMG MORI SEIKI

Indicated 0.1 percent lower

Q4 results due. EBIT seen up 11.5 percent at 66.1 million euros. Poll:

OSRAM

Indicated 1.2 percent higher in early Frankfurt trade

The German lighting company said it had not made any new decisions about its future strategy after remarks made by its finance chief to Reuters pushed its shares up more than 6 percent on Wednesday.

Deutsche Bank raised its target price to 55 euros from 44 euros per share.

INDUS HOLDING

Indicated unchanged

The company is not planning a capital increase for 2015, Indus CEO Juergen Abromeit told Boersen-Zeitung.

SAF HOLLAND

Indicated 0.8 percent lower

The company reported a 12 percent gain in 2014 sales to 959.7 million euros and said it still aims to post revenues between 980 million and 1.035 billion euros this year.

SCHALTBAU

Indicated 1.6 percent higher

2014 results due. The group said on Jan. 16 its sales rose 10 percent to 430 million euros.

ENBW

No indication available

The German utility seeks 261 million euros in damages over government policy to take nuclear power stations offline in the wake of the Fukushima disaster in 2011, Stuttgarter Zeitung reported on Thursday.

ROCKET INTERNET

No indication available

Helpling, an online marketplace for hiring home cleaners backed by Germany’s Rocket Internet, is expanding beyond its base in Europe to set up new operations in the Middle East and Asia, aided by the acquisition of a rival Singapore start-up.

ANALYSTS’ VIEWS

BMW - Helvea Baader Bank cuts to “hold” from “buy”, raises price target by 9 pct to 120 euros.

CONTINENTAL AG - Credit Suisse cuts to “neutral” from “outperform”.

INFINEON - Bernstein cuts to “market perform”

BILFINGER - Exane BNP Paribas cuts to “underperform” from “neutral”, lowers price target to 49 euros from 54 euros.

MTU AERO ENGINES - JP Morgan raises to “neutral” from “underweight”, lifts target price to 85.50 euros from 71 euros.

OVERSEAS STOCK MARKETS

Dow Jones -0.2 pct, S&P 500 -0.2 pct, Nasdaq -0.2 pct at Wednesday’s close.

Nikkei +1.4 pct at Thursday’s close.

GERMAN ECONOMIC DATA

German February final CPI +0.9 pct m/m, +0.1 pct y/y. Final HICP +1.0 pct m/m, -0.1 pct y/y.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Harro Ten Wolde and Maria Sheahan)

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