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German stocks - Factors to watch on March 7
March 7, 2017 / 6:09 AM / 6 months ago

German stocks - Factors to watch on March 7

FRANKFURT/BERLIN, March 7 (Reuters) - The DAX top-30 index looked set to open 0.2 percent higher on Tuesday, according to premarket data from brokerage Lang & Schwarz at 0702 GMT.

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

VOLKSWAGEN

Indicated unchanged

The European Commission will support consumer groups who want to impose sanctions on Volkswagen for not compensating European customers affected by its diesel scandal in the same way it has agreed to in the United States, Justice Commissioner Vera Jourova told the Handelsblatt and Welt newspapers. "After more than half a year of dialogue, Volkswagen has not fulfilled the key demands of consumers. Volkswagen has broken European consumer law," she said. Welt said the sanctions could involve fines in serious cases.

PSA Group's purchase of General Motors' Opel division will cause no immediate problems for VW's core autos division, which is undergoing major restructuring, Chief Executive Matthias Mueller said.

VW expects to broaden disciplinary action beyond the two dozen employees the carmaker has already suspended in a diesel emissions cheating scandal, Chairman Hans Dieter Poetsch said.

At the Geneva auto show, Volkswagen will show off a fully self-driving car as part of the its drive to be at the forefront of new technologies in the wake of the scandal.

VONOVIA

Indicated 0.1 pct higher

Vonovia has extended the contract of Chief Executive Rolf Buch by five years to February 2023, it said late on Monday.

Reported 2016 FFO 1 of 760.8 mln eur and confirmed targets for 2017.

BRENNTAG

Indicated 0.5 pct higher

The company says it expects growth in gross profit and EBITDA for 2017 after reporting 2016 results and a higher than expected dividend.

RTL

Up 0.3 pct in early trading

RTL is looking for small takeover candidates for its digital business and is considering options for its stake in video network Broadband TV, an executive told Frankfurter Allgemeine Zeitung.

STADA

Indicated 1.4 pct higher

Two pairings of private equity groups are considering bids for Stada that would value it at up to 4.8 billion euros ($5.1 billion) including debt, people familiar with the matter told Reuters late on Monday.

TAG IMMOBILIEN AG

Indicated 1.1 pct lower

The real estate group said late on Monday placed treasury shares in a private placing at 12.48 euros apiece for gross proceeds of 51.1 million eur.

SOFTWARE AG

Indicated 3.4 pct higher

The business software group said it would cancel treasury shares that amount to 3.29 percent of its share capital and buy back own shares worth up to eur 100 million by May 15.

KWS SAAT

Indicated 1.6 pct higher

Q2 results.

TELE COLUMBUS

Indicated 1.7 pct higher

Reported 2016 results and gave guidance for 2017.

VTG

Indicated 1.3 pct lower

Said it sees slight increase in sales and EBITDA in 2017 after reporting 2016 results.

OVERSEAS STOCK MARKETS

Dow Jones -0.2 pct, S&P 500 -0.3 pct, Nasdaq -0.4 pct at close.

Nikkei -0.2 pct, Shanghai stocks +0.3 pct.

Time: 7.06 GMT.

GERMAN ECONOMIC DATA

German January industrial orders -7.4 pct vs consensus -2.5 pct.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS ($1 = 0.9436 euros) (Reporting by Ludwig Burger and Victoria Bryan)

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