February 8, 2017 / 6:23 AM / 6 months ago

German stocks - Factors to watch on February 8

BERLIN/FRANKFURT, Feb 8 (Reuters) - The DAX top-30 index looked set to open 0.2 percent higher on Wednesday, according to premarket data from brokerage Lang & Schwarz at 0700 GMT.

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

LUFTHANSA

Indicated 1.5 percent higher

German cabin crew union UFO and Lufthansa unit Eurowings have agreed to a mediation process over pay and working conditions after talks between management and the union broke down last year, a source familiar with the matter said.

DEUTSCHE BANK

Indicated 0.3 percent lower

Deutsche Bank's investment banking chief Jeffrey Urwin is in talks to leave the role, and the bank is in discussions to name finance chief Marcus Schenck to run the unit, the Wall Street Journal reported, citing people familiar with the matter.

VW

Indicated 0.1 percent lower

Volkswagen Group of America on Tuesday announced a U.S. subsidiary that will manage $2 billion in investments in zero emission vehicle (ZEV) infrastructure and awareness programs over a decade as part of a court settlement on its excess diesel emissions.

OSRAM

No indication available

The German lighting group reported a 4 percent increase in first-quarter adjusted operating profit that beat expectations on Wednesday, thanks to strong demand from the automotive industry.

DMG MORI AG

Indicated 0.2 percent lower

The machine tool maker reported a 30 percent drop in earnings before interest tax, depreciation and amortisation (EBITDA) in 2016 to 169.7 million euros.

GRENKE

No indication available

The IT leasing company reported a 27.7 percent rise in net profit to 103.2 million euros in 2016. It expects consolidated net profit of between 113 million and 123 million euros in 2017.

ANALYSTS' VIEWS

DAIMLER - Citigroup cuts to "Neutral", removes from focus list.

LUFTHANSA - SocGen raises to "Buy" from "Hold".

GEA GROUP - Credit Suise raises to "Outperform" from "Neutral".

OVERSEAS STOCK MARKETS

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

Nikkei +0.5 pct, Shanghai stocks +0.5 pct.

Time: 7.02 GMT.

GERMAN ECONOMIC DATA

No economic data scheduled.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS ($1 = 0.9380 euros) (Reporting by Emma Thomasson and Harro ten Wolde)

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