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German stocks - Factors to watch on November 3
November 3, 2015 / 5:56 AM / 2 years ago

German stocks - Factors to watch on November 3

FRANKFURT, Nov 3 (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 0720 GMT.

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

BMW

Indicated 2.5 percent up

The premium carmaker posted a surprise increase in third-quarter operating profit as strong sales in higher-margin core European markets outweighed weak demand in China.

COMMERZBANK

Indicated 1.2 percent higher

Marcus Chromik will succeed outgoing Chief Risk Officer Stefan Schmittmann, daily Handelsblatt reported.

INFINEON

Indicated 0.8 percent lower

Infineon is the front-runner to buy Fairchild Semiconductor because it is willing to pay more, Bloomberg reported, citing unidentified people with knowledge of the matter.

SIEMENS

Indicated 0.3 percent up

The engineering company completed a 4 billion euro share buyback, corresponding to 4.9 percent of the share capital.

VOLKSWAGEN

Indicated 5.5 percent down

Volkswagen used devices to cheat air pollution tests in diesel luxury vehicles, U.S. environmental regulators said on Monday, in a new blow to the automaker already reeling from similar allegations regarding millions of smaller diesel engines.

VONOVIA

Indicated 3.8 percent up

Property group Vonovia raised its earnings guidance for the year after its key operating profit more than doubled to 432 million euros ($476 million) in the first nine months, helped by the quick integration of a clutch of acquisitions.

AXEL SPRINGER

Indicated 0.4 percent lower

Springer should be able to present “very pleasing” preliminary figures this week on the success of its anti-adblocking strategy for Bild.de, head of marketing and classified ad models Andreas Wiele said at a meeting of publishers in Berlin late on Monday. Last month, Springer banned readers who use adblockers from its Bild tabloid website, asking them to switch off the adblocker or pay a monthly fee.

DUERR

Indicated 3.2 percent up

The automotive supplier raised its sales outlook for 2015 after posting forecast-beating results in the third quarter on strong demand from China and business earned from acquiring woodworking specialist Homag group.

FUCHS PETROLUB

Indicated 0.8 percent higher

The lubricant maker increased its EBIT by 11 percent to 261 million euros in the first nine months.

HUGO BOSS

Indicated 0.5 percent higher

The fashion house said on Tuesday it expects sales and earnings to recover in the fourth quarter after a slowdown in China and more hesitant tourist shoppers in the United States hurt its third-quarter results.

KLOECKNER

Indicated 0.2 percent lower

The steel distributor swung to a net loss in the third quarter thanks to pressure from cheap imports and slow demand in anticipation of a further fall prices in as well as a collapse in prices for scrap.

LEG IMMOBILIEN

Indicated 1.1 percent lower

German property company LEG Immobilien has agreed to buy 13,800 residential properties from Vonovia for about 600 million euros, LEG said on Monday.

QIAGEN

Indicated 0.2 percent higher

The company’s QCI bioinformatics platform has been expanded from interpreting genetic sequencing data on somatic mutations in solid tumor cancers to add leukaemia and lymphoma testing, as well as testing for hereditary cancer indications, it said.

PFEIFFER VACUUM

Indicated 1.1 percent up

The group posted a 38.5 percent increase in EBIT to 15.3 million euros in the first nine months 2015.

IPO

Corestate Capital Holdings cancelled its planned IPO. “This decision was taken due to the currently difficult market environment for IPOs in the German and UK stock markets, which are of particular relevance to the Company,” the company said in a statement.

OVERSEAS STOCK MARKETS

Dow Jones +0.9 pct, S&P 500 +1.2 pct, Nasdaq +1.5 pct at close.

Japanese markets closed, Shanghai stocks -0.45 pct.

Time: 6:55 GMT.

GERMAN ECONOMIC DATA

No economic data scheduled.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Kirsti Knolle and Jonathan Gould)

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