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German stocks - Factors to watch on February 7
February 7, 2017 / 5:59 AM / 7 months ago

German stocks - Factors to watch on February 7

FRANKFURT, Feb 7 (Reuters) - The DAX top-30 index looked set to open 0.3 percent lower on Tuesday, according to premarket data from brokerage Lang & Schwarz at 0712 GMT.

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

ALLIANZ

Indicated 0.1 percent lower

Investors pulled $1.6 billion from the Pimco Total Return Fund in January, leaving assets under management of $75 billion, Morningstar data showed on Monday.

DEUTSCHE BOERSE

Indicated 0.1 percent lower

Deutsche Boerse and the London Stock Exchange have decided to formally offer to divest LCH.Clearnet SA as a remedy to the European Commission to address anti-trust concerns in relation to the merger of the two exchange operators, Deutsche Boerse said.

Separately, Handelsblatt daily cited the Frankfurt prosecutor’s office as saying it was investigating whether Deutsche Boerse informed the public and its investors too late of its merger talks with LSE.

Deutsche Boerse said its supervisory board backed CEO Kengeter, who is the focus of an insider trading investigation, saying it had found that talks with the London Stock Exchange had not yet started in 2015.

DEUTSCHE TELEKOM

Indicated 0.4 percent lower

The telecoms group aims to sell its Romanian mobile and fixed-line businesses in two separate transactions that could be worth a total of more than 1 billion euros, Boersen-Zeitung reported, citing financial sources.

MUNICH RE

Indicated 1.1 percent lower

The reinsurer raised its dividend for 2016 by more than 4 percent to 8.61 euros per share, above 8.51 forecast in a poll of analysts.

SIEMENS

Indicated 0.2 percent lower

The engineering group is hoping to win early EU antitrust approval for its plan to create the world’s biggest wind turbine maker with Spain’s Gamesa, people familiar with the matter said on Monday.

THYSSENKRUPP

Indicated 0.5 percent higher

The steelmaker’s top labour chief, Wilhelm Segerath, told Westdeutsche Allgemeine Zeitung that CEO Heinrich Hiesinger should bring an end to speculation over a possible merger of its steel business with peer Tata Steel to give workers clarity. Segerath added he saw no logic in such a merger.

VOLKSWAGEN

Indicated 0.6 percent lower

Volkswagen is planning to cap the pay package of its chief executive at 10 million euros ($10.7 million) and keep pay for management board members below that, a source familiar with the matter said.

AIRBUS

Up 0.2 percent in early Frankfurt trade

Germany is in talks with several countries, including the Czech Republic and Switzerland, about jointly operating a large number of the 13 Airbus A400M military transport planes it had planned to sell, a German newspaper reported.

GEA GROUP

Indicated 2.4 percent higher

The food-processing machinery maker has predicted a return to earnings growth this year as a restructuring gets back on track, but warned that the outlook for its markets remained uncertain.

Late on Monday it announced plans to buy back up to 450 million euros’ worth of shares.

HANNOVER RE

Indicated 1.2 percent higher

Hannover Re reported 2016 net profit of 1.17 billion euros, exceeding its own target of at least 950 million euros, the reinsurer said as it published key figures ahead of schedule. [

METRO

Indicated 3.6 percent lower

Shareholders in Metro voted on Monday in favour of a plan to split the German retailer into two companies, one a wholesale and hypermarket food business, and the other Europe’s biggest consumer electronics group.

TALANX

Up 1 percent in early Frankfurt trade

The insurer said its 2016 net profit came to slightly more than 900 million euros and raised its net profit guidance for 2017 to around 800 million euros from a previous forecast for at least 750 million.

JENOPTIK

Indicated 0.2 percent higher

The group said it expected further profitable growth in 2017 after its 2016 earnings rose.

HAPAG-LLOYD

Down 0.7 percent in early Frankfurt trade

The shipping company said it was launching an additional 150 million euros of senior notes to partly redeem existing senior notes due next year.

EX-DIVIDEND

METRO - dividend 1 euro/shr

OVERSEAS STOCK MARKETS

Dow Jones -0.1 pct, S&P 500 -0.2 pct, Nasdaq -0.1 pct at close.

Nikkei -0.4 pct, Shanghai stocks -0.1 pct.

Time: 7.17 GMT.

GERMAN ECONOMIC DATA

German December industrial output -3.0 pct m/m, steepest fall since Jan 2009.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS ($1 = 0.9345 euros) (Reporting by Victoria Bryan and Maria Sheahan)

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