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German stocks - Factors to watch on February 16
February 16, 2017 / 6:15 AM / 8 months ago

German stocks - Factors to watch on February 16

BERLIN/FRANKFURT, Feb 16 (Reuters) - The DAX top-30 index looked set to open 0.1 percent lower on Thursday, according to premarket data from brokerage Lang & Schwarz at 0722 GMT.

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

AUTOS

BMW indicated 0.1 percent lower

Daimler indicated unchanged

Volkswagen indicated unchanged

European passenger car registrations jumped 10 percent on extra selling days to 1.204 million vehicles from 1.094 million a year earlier, ACEA said.

Separately, the chief of Czech power group CEZ told newspaper Hospodarske Noviny that CEZ and carmaker Skoda, owned by Volkswagen, will invest together in developing electric cars.

DEUTSCHE BOERSE

Indicated 0.7 percent higher

News conference on annual results due. The company reported an 18 percent jump in 2016 operating profit on Wednesday, as its commodities and international clearing business made up for a weaker market environment.

DEUTSCHE TELEKOM

Indicated 0.7 percent lower

Deutsche Telekom’s T-Systems unit is cutting its forecasts for 2017 after a weak 2016, Wirtschafts Woche weekly reported, citing a memo by the unit’s chief Reinhard Clemens and finance chief Christoph Ahrendt published on the company’s intranet.

SIEMENS

Indicated 0.2 percent lower

Stoneway Capital Corporation, a private company with equity contributed by German engineering group Siemens, sold $500 million in project bonds to help build four power generating plants in Buenos Aires, the company said on Wednesday.

AIRBUS

Indicated 0.4 percent lower

Austria’s defence ministry is set to file a lawsuit against Airbus accusing the group of wilful deception and fraud linked to a 2 billion euro ($2.1 billion) order of Eurofighter jets in 2003, APA news agency said on Thursday.

Separately, three people familiar with the matter said that Airbus is shaking up its international marketing organisation amid a UK investigation into suspected irregularities in the use of intermediaries to help it land new orders.

FUCHS PETROLUB

Indicated 0.5 percent higher

The lubricants maker said it expected a further increase in 2017 revenues and earnings and hiked its dividend by 9 percent to 0.89 euros per preference share.

METRO

Indicated unchanged

The retailer, which currently has more than 200 franchise stores in Russia, plans to increase that number tenfold by 2020, Jere Calmes, the new chief executive of Metro Cash&Carry Russia, said on Wednesday.

GFK

Indicated 0.2 percent lower

Deutsche Boerse said it was adjusting GfK’s free float in the SDAX index to 24.2 percent from 43.5 percent due to the acquisition of GfK shares by KKR.

INDUS HOLDING

Indicated unchanged

The group will reach or maybe even exceed the upper end of its operating profit forecast range of 138 million euros for 2016, its Chief Executive Juergen Abromeit told Boersen-Zeitung, adding he expected a further increase this year.

TAKKT

Indicated 0.2 percent lower

The group said it expected its organic sales to rise in 2017, after reporting a 5.2 percent gain for 2016.

ANNUAL GENERAL MEETINGS

INFINEON - 0.22 eur/shr dividend proposed

EX-DIVIDEND

STABILUS - dividend 0.50 eur/shr

OVERSEAS STOCK MARKETS

Dow Jones +0.5 pct, S&P 500 +0.5 pct, Nasdaq +0.6 pct at close.

Nikkei -0.5 pct, Shanghai stocks +0.5 pct.

Time: 7.27 GMT.

GERMAN ECONOMIC DATA

No economic data scheduled.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS ($1 = 0.9419 euros) (Reporting by Victoria Bryan and Maria Sheahan)

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