July 17, 2013 / 5:01 AM / 4 years ago

German stocks - Factors to watch on July 17

FRANKFURT, July 17 (Reuters) - The DAX top-30 index looked set to open 0.2 percent higher on Wednesday, according to premarket data from brokerage Lang & Schwarz at 0619 GMT.

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

DAIMLER

Indicated 0.4 percent lower

The European Commission gave provisional backing to France’s decision to block the sale of most new Mercedes models, after Germany allowed Daimler to use a banned coolant in its cars.

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DEUTSCHE POST

Indicated 0.1 percent higher

The mail and logistics company is entering the market for online food retail and aims to be active in all major urban areas in Germany by 2015, Andrej Busch, the chief of Deutsche Post’s parcel business, told Westdeutsche Allgemeine Zeitung.

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DEUTSCHE ANNINGTON

Trading 0.6 percent lower in early Frankfurt trade

The real estate company said its IPO had been completed with full exercise of the greenshoe option.

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OVERSEAS STOCK MARKETS

Dow Jones -0.2 pct, S&P 500 -0.4 pct, Nasdaq -0.3 pct at Tuesday’s close.

Nikkei +0.1 pct at Wednesday’s close.

ANALYSTS’ VIEWS

LUFTHANSA - Jefferies starts the stock with a “buy” rating and a target price of 20.30 euros.

FRAPORT - Morgan Stanley raises its price target to 54 euros from 47 euros, with an “equal weight” rating.

NORMA - Berenberg raises its target price to 36 euros from 29 euros, with a “buy” rating.

EUROPEAN FACTORS TO WATCH

DIARIES

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

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