April 26, 2017 / 5:00 AM / 5 months ago

German stocks - Factors to watch on April 26

BERLIN/FRANKFURT, April 26 (Reuters) - The DAX top-30 index looked set to open unchanged on Wednesday, according to premarket data from brokerage Lang & Schwarz at 0625 GMT.

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

DAIMLER

Indicated unchanged

The carmaker hiked its guidance on Wednesday and said it now expects a significant rise in earnings before interest and taxes (EBIT) this year, lifted by surging sales of Mercedes-Benz luxury cars and sports utility vehicles.

It also flagged that recent steps by United States authorities to investigate diesel emissions pollution and so-called auxiliary emission control devices could lead to significant penalties and vehicle recalls.

Separately, Germany’s road traffic regulator KBA asked Daimler to recall cars that were equipped with air conditioning coolant R134a between 2013 and 2016, daily Frankfurter Rundschau reported.

DEUTSCHE BOERSE

Indicated 0.1 percent lower

Q1 results due after market close. EBIT seen up 28 percent at 397 million euros. Poll:

Separately, proxy adviser Glass Lewis has recommended shareholders vote against ratifying the actions of the management and supervisory board at the AGM.

KLOECKNER & CO

Indicated 5.8 percent higher

The steel distributor sees steel prices stabilising this quarter, with its own core earnings at 60-70 million euros ($66-$76 million) following a leap to 77 million euros in the first quarter.

CTS EVENTIM

No indication available

The ticketing company said the foundation of founder and CEO Klaus-Peter Schulenberg, KPS Stiftung, plans to sell up to a 5 percent stake via an accelerated bookbuild.

GRAMMER

Indicated 0.3 percent lower

The company said a regional court had lifted the enforcement of a temporary injunction on the exercise of a convertible bond, allowing it to issue shares to a strategic partner.

ANNUAL GENERAL MEETINGS

MUNICH RE - 8.60 eur/shr dividend proposed

AXEL SPRINGER - 1.90 eur/shr dividend proposed

GERRESHEIMER - 1.05 eur/shr dividend proposed

SCHAEFFLER - 0.50 eur/shr dividend proposed

OVERSEAS STOCK MARKETS

Dow Jones +1.1 pct, S&P 500 +0.6 pct, Nasdaq +0.7 pct at close.

Nikkei +1.0 pct, Shanghai stocks +0.4 pct.

Time: 4.59 GMT.

GERMAN ECONOMIC DATA

No economic data scheduled.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS ($1 = 0.9187 euros) (Reporting by Victoria Bryan and Ludwig Burger)

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