April 5, 2017 / 5:16 AM / in 4 months

German stocks - Factors to watch on April 5

3 Min Read

FRANKFURT, April 5 (Reuters) - The DAX top-30 index looked set to open unchanged on Wednesday, according to premarket data from brokerage Lang & Schwarz at 0611 GMT.

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

Allianz

Indicated 0.3 percent higher

A consortium led by a unit of Allianz is looking to buy a third of the 15 percent stake Atlantia is selling in its Italian motorway business, two sources close to the matter said on Tuesday.

Separately, Pimco regained its perch as the manager behind the world's largest actively managed bond fund, data from the asset manager showed on Tuesday.

Commerzbank

Indicated 0.3 percent higher

Germany's second-largest bank has informed its works council that 7,800 jobs will be cut in Germany as part of a restructuring announced last year, Handelsblatt newspaper reported.

Deutsche Bank

Indicated unchanged

Sufficient demand has been registered for the bank's capital increase, Handelsblatt reported on Wednesday, citing financial sources.

Deutsche Post

Indicated 0.1 percent higher

The group's CEO tells Handelsblatt in an interview that he does not expect a dramatic impact on its business from Brexit, adding that Britain seems likely to take action that will boost its economy.

Volkswagen

Indicated unchanged

Former VW chairman Ferdinand Piech will leave the supervisory board of Porsche SE in autumn, Handelsblatt reported. Porsche SE said on Monday Piech would stay on the board until the closing of the stake sale. The paper said the regulatory review of the sale could take 6 months.

Evotec

Indicated 2.7 pct higher

The company said it had achieved its first milestone in a diabetes alliance with Sanofi, triggering a payment of 3 million euros.

Medigene

Up 4.6 pct in early trades

The company said preclinical data on the T-cell receptor (TCR) T4.8-1-29 was presented in Washington, D.C., USA. It will start a phase I/II trial by the end of 2017.

Analysts' Views

DRAEGERWERK - HSBC lowers to "Reduce" from "Hold"

NANOGATE - Berenberg starts with "Buy", 58 eur target price

Overseas Stock Markets

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

Nikkei +0.3 pct, Shanghai stocks +1.3 pct.

Time: 6.12 GMT.

German Economic Data

German March final Markit PMI due at 0755 GMT. Services PMI seen flat at 55.6 points, composite PMI unchanged at 57.0.

European Factors to Watch

Diaries

REUTERS TOP NEWS (Reporting by Emma Thomasson and Victoria Bryan)

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