February 14, 2017 / 5:51 AM / 5 months ago

German stocks - Factors to watch on February 14

4 Min Read

FRANKFURT, Feb 14 (Reuters) - The DAX top-30 index looked set to open 0.1 percent lower on Tuesday, according to premarket data from brokerage Lang & Schwarz at 0711 GMT.

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

Daimler

Indicated 0.4 percent higher

Annual report due. The company already published preliminary results on Feb. 2 and pledged on Thursday to improve on last year's record sales and profit.

Separately, Frankfurter Allgemeine Zeitung reported that Daimler would stop selling Smart cars with combustion engines in the United States and Canada from September to focus on the electric version there. It cited a letter sent to dealerships by the head of Mercedes-Benz USA.

Heidelbergcement

Indicated 2.8 percent lower

The cement maker reported a 4 percent fall in fourth-quarter revenue, missing expectations on Tuesday, as bad weather hit southern Germany and parts of North America while the Indonesian market continued to develop weakly.

Volkswagen

Indicated unchanged

Volkswagen said it had signed a cooperation with Mobileye that aims to realize a new navigation standard for autonomous driving from 2018.

Separately, a federal judge in San Francisco is due to hold a hearing on whether to grant preliminary approval for a settlement on polluting U.S. 3.0 liter diesel-engine vehicles.

Bilfinger

Indicated 0.6 percent higher

German industrial services group Bilfinger plans to reinstate a dividend for 2016, promised a share buyback and said on Monday it would return to growth in 2018 after years of strategy U-turns and management turmoil.

Also, Capital Markets Day due.

Airbus

No indication available

An oil leak that grounded an Airbus A400M military plane with a German government minister on board does not point to a fundamental new problem with the West's largest turboprop engines, three sources close to the matter said.

Schaeffler

No indication available

Schaeffler expects to benefit from booming demand for electric vehicles in China, its CEO told Frankfurter Allgemeine Zeitung. He said the company has four serial contracts for its e-axle drive, two of which are with Chinese carmakers.

Stada

Indicated 0.4 percent higher

One of the generic drugmaker's shareholders, Guy Wyser-Pratte, told daily Handelsblatt that the 56 euro-per share takeover offer from Cinven was just enough to get negotiations underway and that 65 euros would be a fair price.

Grammer

Indicated 1.6 percent lower

The auto components company said it was in advanced talks to form a strategic partnership with China's Ningbo Jifeng Auto Parts Co Ltd.

Grammer also said it would issue a mandatory convertible bond in a nominal amount of eur 60 million to Ningbo Jifeng. The bond will be convertible into an equity stake of about 9.2 percent.

Diebold Nixdorf

Q4 results due.

Analysts' Views

BASF - Evercore ISI starts with "buy"; target price 100 euros

COVESTRO - Evercore ISI starts with "sell"; target price 65 euros

RHEINMETALL - UBS raises to "buy" from "neutral"; raises target price to 80 euros from 63 euros

SYMRISE - Evercore ISI starts with "hold"; target price 59 euros

LINDE - Evercore ISI starts with "sell"; target price 147 euros

LANXESS - Evercore ISI starts with "sell"; target price 63 euros

Annual General Meetings

OSRAM - 1 eur/shr dividend proposed

Overseas Stock Markets

Dow Jones +0.7 pct, S&P 500 +0.5 pct, Nasdaq +0.5 pct at close.

Nikkei -1.1 pct, Shanghai stocks +0.1 pct.

Time: 7.37 GMT.

German Economic Data

The German economy grew by 0.4 percent in the final quarter of 2016, with increased state spending, higher private consumption and construction more than offsetting a drag from foreign trade.

Germany's consumer prices, harmonised to compare with other European countries, fell by 0.8 percent in January from the previous month and rose by 1.9 percent from the previous year.

ZEW sentiment index for February due at 1000 GMT. Economic sentiment seen at 15.0 points vs 16.6, current conditions seen at 77.2 points vs 77.3.

European Factors to Watch

Diaries

REUTERS TOP NEWS ($1 = 0.9433 euros) (Reporting by Maria Sheahan and Ludwig Burger)

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