July 29, 2016 / 4:50 AM / a year ago

German stocks - Factors to watch on July 29

FRANKFURT, July 29 (Reuters) - The DAX top-30 index looked set to open 0.6 percent higher on Friday, according to premarket data from brokerage Lang & Schwarz at 0611 GMT.

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

BANKS

Commerzbank indicated 0.9 percent higher

Deutsche Bank indicated 0.1 percent higher

European stress test results due at 2000 GMT.

Separately, the executive director of the European Banking Authority (EBA) told German media on Thursday that Europe’s banking sector was in need of further repairs.

BAYER

Indicated 0.6 percent higher

A New York federal judge has ruled in favor of Bayer against nearly 1,300 lawsuits filed by women who say they suffered internal injuries from the company’s Mirena intra-uterine contraceptive device.

DAIMLER

Indicated 0.6 percent higher

German law office Stoll & Sauer said it would seek the compensation for haulers, truck buyers and truck leasers who were damaged by European truck makers’ price collusion in a cartel that European antitrust regulators fined with a record 2.93 billion euros in mid-July. Daimler received the biggest fine at 1.01 billion euros.

DEUTSCHE BANK

Indicated 0.1 percent higher

Results due from the lender’s Postbank unit.

DEUTSCHE BOERSE

Indicated 0.4 percent higher

The German exchange operator and the London Stock Exchange will only decide by the end of the year on how to go about their planned merger in light of the British vote to leave the European Union, German Sueddeutsche Zeitung reported.

Deutsche Boerse separately said it was girding for an in-depth investigation by EU competition authorities of its planned $27 billion merger with LSE.

HEIDELBERGCEMENT

Indicated 1.6 percent higher

The cement maker brushed off the uncertainty surrounding Britain’s vote to leave the European Union and confirmed its full-year guidance on Friday as it reported better-than-expected core profit for the second quarter.

THYSSENKRUPP

Indicated 0.2 percent higher

A merger of the industrial group’s European steel business with Tata Steel would not make any sense as it would not solve the problem of overcapacity, Thyssenkrupp supervisory board member and labour leader Wilhelm Segerath told Boersen-Zeitung.

VOLKSWAGEN

Indicated 0.5 percent higher

Trucks unit MAN reported first-half results and affirmed its guidance for the year.

Results also due from premium unit Audi.

Also, Toyota Motor Corp reported a drop in first-half vehicle sales on Thursday following a series of production stoppages, falling behind Volkswagen which became the world’s top-selling carmaker in the first six months of 2016 despite its emissions scandal.

BILFINGER

Indicated 0.3 percent higher

The German industrial services group has won a contract worth several million euros to help expand a refinery in Iran, German Handelsblatt reported on late Thursday, citing a company spokesperson.

STADA

Indicated 0.3 percent higher

The drug maker’s supervisory board has started talks to negotiate a permanent exit of Harmut Retzlaff, its chief executive who has taken leave of absence due to illness, Frankfurter Allgemeine Zeitung reported.

Separately, activist investor Active Ownership Capital said financial watchdog BaFin had asked it to provide information on its activities regarding Stada following speculation in media reports.

NEMETSCHEK

Indicated 1.1 percent higher

The software maker said it expected its 2016 revenues and adjusted EBITDA to reach the upper end of its forecast range after posting consensus-beating second-quarter results.

QIAGEN

Indicated 3.8 percent higher

The company said it was on track for continued acceleration in the second half of the year and to reach its 2016 targets, as it reported second-quarter financial results.

The company also said it planned to return capital of $300 million to shareholders by the end of 2017.

RIB SOFTWARE

Up 3.5 percent in early Frankfurt trade

The software maker reported second-quarter net profit of 3.4 million euros, bang in line with consensus.

ANALYSTS’ VIEWS

ADIDAS - Citigroup cuts to “sell”

WACKER CHEMIE - Citigroup cuts to “sell”

OVERSEAS STOCK MARKETS

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

Nikkei +0.6 pct, Shanghai stocks -0.4 pct.

Time: 6.14 GMT.

GERMAN ECONOMIC DATA

German June retail sales 0.1 pct m/m, +2.7 pct y/y. Had been seen -0.1 pct m/m, +1.3 pct y/y.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS ($1 = 0.9000 euros) (Reporting by Tina Bellon and Maria Sheahan)

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