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German stocks - Factors to watch on February 9
February 9, 2015 / 6:16 AM / 3 years ago

German stocks - Factors to watch on February 9

FRANKFURT, Feb 9 (Reuters) - Germany’s DAX top-30 index looked set to open 0.7 percent lower on Monday, according to premarket data from brokerage Lang & Schwarz at 0717 GMT.

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

LUFTHANSA, FRAPORT

Lufthansa indicated 1.1 pct lower

Fraport indicated 0.5 pct lower

German trade union Verdi has called on security personnel to go on strike at three German regional airports -- Hamburg, Stuttgart and Hanover -- on Monday, leading airline Lufthansa to cancel 18 planned flights.

Separately, German airport operator Fraport expects Greece’s new government to honour a $1.4 billion deal for Fraport to run 14 regional airports, its finance chief said on Saturday, in contrast to other key privatisation projects halted by Athens.

VOLKSWAGEN

Indicated 0.7 pct lower

The German carmaker Volkswagen has no plans to close any factories as part of its cost-cutting plan, Chief Executive Martin Winterkorn said on Saturday.

Separately, Porsche will recall 14,571 cars in China due to defective camshaft adjusters, the national quality watchdog said.

DMG MORI SEIKI

Indicated 0.7 pct lower

U.S. hedge fund Elliott denied on Saturday that it had reduced its voting rights in German machine-tool maker DMG Mori Seiki AG, which is the target of a takeover bid by Japan’s DMG Mori Seiki Co Ltd.

METRO

Indicated 0.9 pct lower

Big stakeholder Haniel said it would make no sense to sell its stake in retail group Metro because the shares are undervalued and because there are few other, interesting investment opportunities, Haniel head Stephan Gemkow said in newspaper Die Welt.

STADA

Indicated 0.1 pct lower

The German drugmaker will launch a test next month that can diagnose Ebola virus infections within minutes, it said on Monday, a move it hopes will help to slow the spread of the disease.

ANALYSTS’ VIEWS

RWE - Raymond James cuts to “underperform” from “market perform”

GEA GROUP - Berenberg lowers to “hold” from “buy”

OSRAM - SocGen cuts to “sell” from “hold”

NORDEX - Deutsche Bank cuts to “hold” from “buy”

OVERSEAS STOCK MARKETS

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

Nikkei +0.4 pct at Monday’s close.

GERMAN ECONOMIC DATA

German December seasonally adjusted exports 3.4 pct m/m, imports -0.8 pct m/m. Reuters poll was for exports +1.00 pct m/m, imports -0.45 pct m/m.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Thomas Atkins and Christoph Steitz)

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