December 16, 2016 / 6:17 AM / 7 months ago

German stocks - Factors to watch on December 16

4 Min Read

FRANKFURT/BERLIN, Dec 16 (Reuters) - The DAX top-30 index looked set to open unchanged on Friday, according to premarket data from brokerage Lang & Schwarz at 0705 GMT.

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

Russia Sanctions

European Union leaders agreed on Thursday to extend economic sanctions against Russia over the turmoil in Ukraine until mid-2017, though some wanted a longer timespan over fear U.S. President-elect Donald Trump would ease pressure on Moscow.

Insurers

Allianz indicated 0.1 percent lower

Munich Re indicated 0.2 percent lower

Talanx down 0.4 percent in early Frankfurt trade

Insurers may have to scrap dividends after a test of their ability to withstand severe market shocks uncovered a 160 billion euro ($165 billion) hole in balance sheets, the European Union's insurance watchdog said on Thursday.

Separately, Italy's antitrust authority has started investigating insurers such as Allianz for suspicions of a possible breach of competition law in car insurance, the authority said on Thursday.

Bayer

Indicated unchanged

The chemicals group, once merged with Monsanto, would not enforce its intellectual property rights to seeds when smallholder farmers sow out harvested seeds again, Chief Executive Werner Baumann told Manager Magazin.

Separately, the CEO told Handelsblatt he expects Bayer's agricultural business to grow an average four percent per year after the Monsanto deal.

Commerzbank

Indicated 0.2 percent lower

Poland's financial regulator has imposed an additional capital requirement on the lender's Polish unit related to its portfolio of foreign currency loans for households, the bank said late on Thursday.

Separately, Standard & Poor's placed Commerzbank on credit watch "positive" from "stable", with a "BBB+" rating.

Deutsche Bank

Indicated 0.4 percent higher

Standard & Poor's placed the lender's debt on credit watch "positive" from "negative", with a "BBB+" rating.

Separately, WirtschaftsWoche cited sources at Postbank as saying that Deutsche Bank was considering merging its BHW and Bauspar businesses if it doesn't divest Postbank by 2018.

Linde

Indicated 0.4 percent higher

Merger talks between the industrial gases group and U.S. rival Praxair are making swift progress and should be concluded before Christmas, Handelsblatt reported on Thursday, citing unnamed industry sources.

Lufthansa

Indicated 0.3 percent lower

Cabin crew union UFO said on Friday that three-way talks with Lufthansa's budget carrier Eurowings and fellow union Verdi over pay and working conditions had failed.

Separately, Norwegian Air Shuttle aims to offer long-haul routes from Germany to the United States from 2018, stepping up competition on transatlantic routes, Chief Commercial Officer Thomas Ramdahl told WirtschaftsWoche in an interview.

Thyssenkrupp

Indicated unchanged

A cyber attack at Thyssenkrupp was led by a group named Winnti, WirtschaftsWoche magazine reported, citing IT security sources.

Volkswagen

Indicated 0.3 percent lower

Hearing due at U.S. District Court after market close on Volkswagen's plan to address 80,000 polluting Audi, Porsche and VW 3.0-liter vehicles.

Evotec

Indicated 3.2 percent higher

The company said it will receive $45 million in upfront payments as part of a drug discovery and development cooperation agreement with Celgene Corporation.

Skw Stahl

Indicated 5.1 percent higher

The company said it has reached an agreement with banks on a financial restructuring.

Overseas Stock Markets

Dow Jones +0.3 pct, S&P 500 +0.4 pct, Nasdaq +0.4 pct at close.

Nikkei +0.7 pct, Shanghai stocks +0.2 pct.

Time: 7.15 GMT.

German Economic Data

No economic data scheduled.

European Factors to Watch

Diaries

REUTERS TOP NEWS (Reporting by Maria Sheahan and Andreas Cremer)

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