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German stocks - Factors to watch on March 9
March 9, 2017 / 5:58 AM / 6 months ago

German stocks - Factors to watch on March 9

FRANKFURT/BERLIN, March 9 (Reuters) - The DAX top-30 index looked set to open 0.1 percent lower on Thursday, according to premarket data from brokerage Lang & Schwarz at 0725 GMT.

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

ECB

The European Central Bank is set to keep monetary policy on hold on Thursday as it casts a cautious eye ahead to high-risk elections in the Netherlands and France during an upsurge in populist, anti-establishment sentiment.

ALLIANZ

Indicated 0.1 percent higher

Pacific Investment Management Co (Pimco) is replacing the full slate of managers on its Total Return Active Exchange-Traded Fund and changing its name, a spokeswoman for the fund management company said on Wednesday, the latest transformation for what was once the largest actively managed ETF.

AUTOS

BMW indicated 0.2 percent higher

Daimler indicated 0.2 percent higher

Volkswagen indicated 0.2 percent higher

Passenger vehicle sales in China to retail customers rose 8.9 percent in February from a year earlier, the China Passenger Car Association (CPCA) said on Thursday.

BASF

Indicated unchanged

Sinopec Corp plans to boost investment in fine chemicals at its Maoming-Zhanjiang refining base in southern China alongside partners like BASF, a senior executive said in an interview on Thursday.

E.ON

Indicated 0.5 percent lower

The German utility has made a net loss of more than 12.4 billion euros ($13.1 billion) in 2016, German newspaper Handelsblatt reported, citing company sources.

LINDE

Indicated 0.3 percent higher

The industrial gases group said its planned merger with U.S. rival Praxair was on track, with the two parties still aiming to finalise an agreement on combining their businesses by the end of April or beginning of May.

LUFTHANSA

Indicated 0.3 percent higher

February traffic figures due at 1200 GMT.

MERCK

Indicated 1.4 percent down

The drugs and lab supplies maker forecast stagnant core earnings for 2017 as strong demand for its biotech lab and production supplies is likely to be offset by competition for its main prescription drugs.

SAP

Indicated 0.1 percent lower

The software maker is teaming up with Silicon Valley giant Google to allow customers to run SAP’s big business applications on Google’s cloud while offering Google’s suite of web-based desktop apps to users, it said on Wednesday.

AXEL SPRINGER

Indicated 1.1 percent higher

The publisher reported better-than-expected 2016 core profit, helped by its digital business, especially its online classified ads.

EVONIK

No indication available

Foundation RAG Stiftung announced plans on Thursday to issue bonds convertible into around 2.7 to 2.8 percent of shares in diversified chemicals maker Evonik.

HANNOVER RE

Indicated 1.0 percent higher

The group announced a dividend hike to 5.00 euros per share for 2016 from a year-earlier payout of 4.75 euros and said it aimed to continue giving shareholders 35 to 40 percent of its net income for this year.

HUGO BOSS

Indicated 0.5 percent lower

Hugo Boss said it expected sales to stabilise in 2017 and profitability to start to recover as the struggling German fashion house managed to turn its business around in China after slashing prices there.

LEG IMMOBILIEN

No indication available

The real estate group forecast its operating profit (FFO I) would rise to between 288 million and 293 millino euros this year, from 268.3 million in 2016.

RTL

No indication available

The group said it expected its 2017 sales to rise by between 2.5 and 5 percent, after a 3.4 percent increase to 6.24 billion euros last year.

UNIPER

Indicated 0.3 percent higher

The energy group flagged a higher dividend for 2017, saying ongoing cost cuts and debt reduction gave it “good momentum” for 2017, the first year of full independence from former parent E.ON.

MORPHOSYS

Indicated 6.3 percent lower

Morphosys said it expected its EBIT loss to widen to between 75 and 85 million euros this year, compared with a 2016 loss of about 60 million euros as it continues to invest in clinical development.

DMG MORI

Indicated 0.2 percent lower

Full Q4 results due.

TLG IMMOBILIEN

Indicated 2.8 percent higher

The group forecast its funds from operations would rise to 84-86 million euros this year from 76.9 million last year.

ANALYSTS’ VIEWS

DEUTSCHE TELEKOM - Macquarie cuts to “underperform” from “neutral”, cuts target price to 14 euros from 15.50 euros

OVERSEAS STOCK MARKETS

Dow Jones -0.3 pct, S&P 500 -0.2 pct, Nasdaq +0.1 pct at close.

Nikkei +0.3 pct, Shanghai stocks -0.7 pct.

Time: 7.30 GMT.

GERMAN ECONOMIC DATA

No economic data scheduled.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS ($1 = 0.9489 euros) (Reporting by Arno Schuetze and Maria Sheahan)

Our Standards:The Thomson Reuters Trust Principles.
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