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German stocks - Factors to watch on December 19
December 19, 2016 / 6:05 AM / 7 months ago

German stocks - Factors to watch on December 19

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BERLIN/FRANKFURT, Dec 19 (Reuters) - The DAX top-30 index looked set to open unchanged on Monday, according to premarket data from brokerage Lang & Schwarz at 0713 GMT.

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

Autos

BMW indicated 0.3 percent lower

Daimler indicated 0.5 percent lower

Volkswagen indicated 0.1 percent lower

Nissan Motor Co, Renault SA and Mitsubishi Motors Corp will combine their electric vehicle platforms in an effort to slash prices down to levels comparable to conventional gasoline cars, the Nikkei newspaper said.

Daimler

Indicated 0.5 percent lower

Daimler does not expect Donald Trump to favour U.S. carmakers over their European counterparts, the carmaker's chief executive told a German paper, shrugging off concerns over the president-elect's protectionist rhetoric during his campaign.

Banks

Deutsche Bank indicated 0.3 percent higher

Commerzbank indicated 0.2 percent lower

Aareal indicated 0.3 percent lower

The number of banks in Germany will continue to fall in 2017, particularly due to consolidation, Andreas Dombret, the Bundesbank's top official for bank regulation, told daily Bild.

Separately, a unit of Deutsche Bank conceded that it misled investors and violated securities laws and will pay more than $40 million to settle charges that it misinformed clients about how it routed orders to anonymous trading platforms known as dark pools, regulators said on Friday.

Linde

Indicated 0.2 percent lower

Praxair and Linde AG, the industrial gas companies that agreed earlier this month to revive merger talks, are close to finalising the terms of the potential deal, people familiar with the matter said on Friday.

Lufthansa, Air Berlin

Lufthansa indicated 0.1 percent lower

Air Berlin indicated 5.1 percent higher

Lufthansa is interested in taking over the rest of Air Berlin's operations, with the appointment of Lufthansa executive Thomas Winkelmann as new Air Berlin CEO, announced on Sunday, to pave the way, Handelsblatt and manager magazin reported.

Volkswagen

Indicated 0.1 percent lower

A U.S. judge has set a Monday deadline for an agreement over Volkswagen's plan to address 80,000 polluting Audi, Porsche and VW 3.0-liter vehicles.

A person briefed on the settlement told Reuters VW has agreed to pay more than $200 million into a fund created to cut diesel pollution as part of the agreement.

Separately, the Wall Street Journal cited a source as saying Volkswagen's costs in its diesel-emissions scandal could rise by another $1 billion as it nears a deal to resolve claims connected to larger and luxury diesel vehicles.

Also, a China Central Television (CCTV) report on Sunday highlighted complaints by the country's safety watchdog this year that some imported brake pads destined for vehicles sold by global automakers, including Volkswagen and Toyota Motor were found to be faulty.

Vonovia

Indicated unchanged

Vonovia's takeover offer for Austria's Conwert ends at 1600 GMT.

Airbus

Down 0.5 percent in early Frankfurt trade

IranAir has trimmed its planned order from Europe's Airbus to 100 planes, partly by dropping superjumbo A380s, the flag carrier's head said on Sunday, confirming an adjustment first reported by Reuters.

Innogy

Indicated 0.4 percent higher

The energy group could provide charging stations to a group of carmakers by joining the consortium, chief executive Peter Terium was quoted as saying by Sueddeutsche Zeitung on Monday. Innogy said last week it would be interested in supplying charging stations to the consortium.

Ado Properties

Down 0.7 percent in early Frankfurt trade

The property company plans to double its portfolio by 2020 and has enough funds for expansion for the next 12-18 months, CFO Florian Goldgruber told Boersen-Zeitung in an interview published on Saturday.

Braas Monier

Indicated 7.5 percent higher

The roof tile maker on Sunday agreed to be taken over by U.S. rival Standard Industries, ending its resistance to the bid after Standard Industries raised its offer, valuing the company at around $1.2 billion.

Index Changes as of Dec. 19

Mdax

In: Innogy, Uniper

Out: Rhoen-Klinikum, Dmg Mori

Tecdax

In: Medigene

Out: Aixtron

Sdax

In: Rhoen-Klinikum , Dmg Mori

Out: Leifheit, Ferratum

Analysts' Views

BAYER - Jeffereies raises to "buy", lifts target price to 115 euros

GRENKE - Berenberg raises to "buy" from "hold", cuts target price to 173 euros from 197 euros.

Overseas Stock Markets

Dow Jones unchanged, S&P 500 -0.2 pct, Nasdaq -0.4 pct at close.

Nikkei -0.1 pct, Shanghai stocks -0.2 pct.

Time: 7.19 GMT.

German Economic Data

German Ifo index for December due at 0900 GMT. Business climate seen at 110.7 vs 110.4, Current Conditions at 115.9 vs 115.6, Expectations at 105.6 vs 105.5.

European Factors to Watch

Diaries

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

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