December 17, 2014 / 6:17 AM / 3 years ago

German stocks - Factors to watch on December 17

FRANKFURT, Dec 17 (Reuters) - The DAX top-30 index looked set to open 1.1 percent lower on Wednesday, according to premarket data from brokerage Lang & Schwarz at 0710 GMT.

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

BAYER

Indicated 1.1 percent lower

The drugmaker said on Wednesday it had entered into a definitive agreement to sell veterinary products to treat horses to Sanofi’s animal health unit Merial.

DEUTSCHE TELEKOM

Indicated 1.1 percent lower

British telecoms group BT’s plan to buy UK mobile operator EE for 12.5 billion pounds ($19.7 billion) should be completed by end-2015 or early 2016, said a senior executive of French group Orange which co-owns the business with Deutsche Telekom.

FRESENIUS MEDICAL CARE

Indicated 0.9 percent lower

China has halted an anti-dumping investigation into European and Japanese makers of blood dialysis equipment, ending a six-month probe that had extended to the Chinese market leader, Germany’s Fresenius Medical Care.

UTILITIES

E.ON indicated 0.7 percent lower

RWE indicated 1.3 percent lower

No indication for EnBW available

German utilities are to put around 17 billion euros ($21.2 billion) into a fund to cover long-term costs connected with the decommissioning of nuclear plants, Sueddeutsche Zeitung said, citing internal documents of the economy and environment ministry. The companies will also set aside about 19 billion euros for nuclear dismantling and temporary storage, it said.

GEA

Indicated 0.5 percent lower

The engineering group has obtained large orders for dairy processing.

HOCHTIEF

Indicated 1.1 percent lower

Hochtief’s Australian unit Leighton agreed to sell 50 percent of its services business to Apollo.

TUI AG

Indicated 0.2 percent lower

The company announced the completion of its merger with TUI Travel.

PUMA

Indicated 0.1 percent lower

The sportswear maker has named pop star Rihanna as its women’s creative director, the latest move by a sportswear firm to tap into the booming market for female leisure gear.

HAWESKO

No indication available

Permira has shelved plans to make a counter-bid for Hawesko as the German wine seller seeks to fend off an offer from 31-percent shareholder Detlev Meyer, a source familiar with the situation said on Tuesday.

ROCKET INTERNET

No indication available

Consultancy Roland Berger will form a joint venture with Rocket Internet that will be a “super-incubator for large companies”, monthly Manager Magazin cited Berger’s new chief Charles Edouard Bouee as saying in an interview.

SOLARWORLD

No indication available

The United States confirmed steep import duties on solar products from China and Taiwan on Tuesday in a decision that may inflame trade tensions between the two countries.

ANALYSTS’ VIEWS

DEUTSCHE ANNINGTON - Goldman Sachs starts the stock with a “neutral” rating and a price target of 25.50 euros.

MLP - JP Morgan cuts the stock to “neutral” from “overweight”, lowers its target price to 4.60 euros from 7.10 euros.

BAADER BANK - HSBC cuts the stock to “neutral” from “overweight”, lowers its target price to 2.80 euros from 2.90 euros.

OVERSEAS STOCK MARKETS

Dow Jones -0.7 pct, S&P 500 -0.9 pct, Nasdaq -1.2 pct at Tuesday’s close.

Nikkei +0.4 pct at Wednesday’s close.

GERMAN ECONOMIC DATA

No economic data scheduled.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS ($1 = 0.6361 pounds) ($1 = 0.8011 euros) (Reporting by Arno Schuetze and Maria Sheahan)

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