April 18, 2017 / 5:11 AM / in 3 months

German stocks - Factors to watch on April 18

4 Min Read

FRANKFURT/BERLIN, April 18 (Reuters) - The DAX top-30 index looked set to open 0.6 percent higher on Tuesday, according to premarket data from brokerage Lang & Schwarz at 0605 GMT.

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

Turkey Referendum

Election authorities said preliminary results showed 51.4 percent of voters had backed the biggest overhaul of Turkish politics since the founding of the modern republic.

Germany and France said on Monday the close result in Turkey's referendum on expanding President Tayyip Erdogan's powers showed the division in Turkish society, while others questioned Europe's relations with the country.

Autos

BMW indicated 0.3 pct higher

Daimler indicated 0.3 pct lower

Volkswagen indicated 0.5 pct higher

British Prime Minister Theresa May has asked officials to develop plans for a scrappage scheme for diesel cars as part of proposals to improve air quality, the Financial Times reported on Monday.

Separately, Fiat Chrysler Automobiles Chief Executive Sergio Marchionne said on Friday the Italian group was not in merger talks with VW.

VW said on Friday it has bought back or repaired more than half of 475,000 polluting 2.0-liter diesel vehicles under a U.S. government settlement, just six months after it launched the largest-ever repurchase offer.

Separately, Automobilwoche cited an Audi spokesman as saying that it had halved the number of temporary staff it employs and could cover Germany production with in-house staff in 2017.

Volkswagen's China sales are set to grow at least 4-5 percent this year, the automaker's China chief said on Tuesday.

Basf

Indicated 0.5 pct higher

The company said it had shut down one of its facilities at its main Ludwigshafen site after a breakdown at the facility led to a brief release of nitrous gases (NOx) on Friday.

Deutsche Telekom

Indicated unchanged

The U.S. Federal Communications Commission said on Thursday that T-Mobile US Inc, Comcast Corp, Dish Network Corp and U.S. Cellular Corp were among the largest buyers of spectrum in an $19.8 billion broadcast airwaves auction.

Rwe, Uniper

RWE indicated 0.3 pct higher

Uniper indicated 0.1 pct higher

CEO Martin Schmitz played down the idea of taking over rivals Uniper and Steag in an interview with Rheinische Post on Saturday and confirmed a target to pay a 0.50 eur per share dividend for 2017.

Siemens

Indicated 0.6 pct higher

Deutsche Bahn has tweaked an order for ICE trains from Siemens, now ordering 100 12-car trains and 19 7-car trains instead of 85 12-car trains and 45 of the smaller version, Spiegel reported citing company sources. The value of the deal remains at 5.3 billion euros, it added.

Osram

No indication

The lighting group is on the lookout for acquisitions worth up to 500 million euros ($530 million), although there are no specific plans for a deal as yet, its finance chief told Boersen-Zeitung in an interview published on Saturday.

Biotest

Indicated 3.7 percent lower

The company said late-Thursday that due to an equipment failure availability of albumin was limited.

Analysts' Views

DAIMLER - Jefferies lowers to "Underperform" from "Hold"

VOLKSWAGEN - Jefferies raises to "Buy" from "Underperform"

UNIPER - SocGen raises to "Buy" from "Hold"

Overseas Stock Markets

Dow Jones +0.9 pct, S&P 500 +0.9 pct, Nasdaq +0.9 pct

Nikkei +0.4 pct, Shanghai stocks -0.2 pct.

Time: 6.05 GMT.

German Economic Data

No economic data due.

European Factors to Watch

Diaries

REUTERS TOP NEWS (Reporting by Harro ten Wolde, Victoria Bryan and Maria Sheahan)

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