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German stocks - Factors to watch on January 18
January 18, 2017 / 7:46 AM / 8 months ago

German stocks - Factors to watch on January 18

FRANKFURT/BERLIN, Jan 18 (Reuters)

The DAX top-30 index looked set to open 0.4 percent higher on Wednesday, according to premarket data from brokerage Lang & Schwarz at 0736 GMT.

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

ADIDAS

Indicated up 0.2 pct

2016 was an extraordinarily successful year for Adidas, Chief Executive Kasper Rorsted told the Frankfurter Allgemeine Zeitung.

BAYER

Indicated up 0.3 pct

Bayer and Monsanto said on Tuesday they would spend at least half of their agriculture research and development budget in the United States over the next six years, following a meeting with President-elect Donald Trump last week.

DEUTSCHE BANK

Indicated up 1.0 pct

Germany’s biggest lender finalized a $7.2 billion settlement with the U.S. Department of Justice over its sale of toxic mortgage securities in the run-up to the 2008 financial crisis, the government agency said on Tuesday.

The bank expects a negative impact of $1.2 billion on its fourth-quarter pretax profit from the civil monetary penalty, Chief Executive John Cryan said wrote in a message to staff.

Deutsche Bank will slash bonuses for senior employees including investment banker in London and New York by about 90 percent and announce the move on Wednesday, Spiegel reported, without citing the source of the information.

DEUTSCHE BOERSE

Indicated up 0.1 pct

Germany and the European Central Bank are pushing harder for Deutsche Boerse and the London Stock Exchange to give Frankfurt a greater role once they merge, now Britain is leaving the European Union, people involved said.

FRESENIUS

Indicated up 0.3 pct

The healthcare group said it placed 2.6 billion euros in notes to fund the purchase of Spanish hospital operator Quirónsalud.

VOLKSWAGEN

Indicated up 0.8 pct

Final hearing at a U.S. district court to approve compensation for U.S. dealers over damages related to the emissions scandal.

The carmaker will launch its first electric model in Japan this summer.

Volkswagen said it would delay any agreement with SAIC Motor Corp to make Audi cars in China until at least 2018.

DEUTSCHE EUROSHOP

Indicated up 0.2 pct

The commercial real estate group expects a valuation gain of 145 million euros for 2016.

SYMRISE

Indicated up 0.3 pct

Capital Markets Day due. CEO Heinz-Juergen Bertram told Boersen-Zeitung the company would continue to either maintain or raise its dividend.

ADLER REAL ESTATE

Indicated down 0.1 pct

Adler Real Estate said it had completed the sale of its Conwert stake and received 422 million euros, which it planned to use to buy back debt.

DIC ASSET

No indication available

DIC Asset said it had exceeded its 2016 acquisition target with acquisitions worth over 520 million euros.

SAF HOLLAND

Indicated down 0.7 pct

The commercial vehicle components maker will reduce the number of manufacturing plants in the U.S. as part of a wider restructuring of North American operations.

BERTELSMANN

Up 0.1 pct

Bertelsmann is open to raising its stake in Penguin Random House, it said after joint venture partner Pearson said it would issue an exit notice.

ANALYSTS’ VIEWS

E.ON - Barclays raises to “overweight” from “equal weight”

FRAPORT - Credit Suisse initiates with “neutral”

GERRESHEIMER - Deutsche Bank raises to “buy” from “hold”

MUNICH RE - Citigroup cuts to “neutral”

UNIPER - Barclays cuts to “equal weight” from “overweight”

OVERSEAS STOCK MARKETS

Dow Jones -0.3 pct, S&P 500 -0.3 pct, Nasdaq -0.6 pct at close.

Nikkei +0.4 pct, Shanghai stocks +0.1 pct.

Time: 7.48 GMT.

GERMAN ECONOMIC DATA

German Dec final CPI rose 0.7 pct m/m, 1.7 pct y/y.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Georgina Prodhan and Andreas Cremer)

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