Reuters logo
in 2 months
German stocks - Factors to watch on May 10
May 10, 2017 / 4:44 AM / in 2 months

German stocks - Factors to watch on May 10

6 Min Read

FRANKFURT, May 10 (Reuters) - The DAX top-30 index looked set to open 0.2 percent lower on Wednesday, according to premarket data from brokerage Lang & Schwarz at 0605 GMT.

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

Bmw

Indicated 0.2 percent higher

The luxury carmaker group will raise annual production capacity to 3 million cars by 2020 and plans to build its X5 offroader in China, German daily Handelsblatt said, citing company sources familiar with the plans.

Commerzbank

Indicated 0.2 percent higher

The German lender plans to cut jobs in its corporate banking division, slashing a third of the division's headcount by 2020, Handelsblatt said, citing an internal company document. The cuts are part of 7,300 job cuts announced last year.

Chemicals Sector

BASF indicated unchanged

Bayer indicated 0.1 percent lower

Lanxess indicated 0.3 percent lower

German chemicals sector association VCI's quarterly report due at 0800 GMT.

Heidelbergcement

Indicated 1.9 percent lower

HeidelbergCement said its first-quarter operating profit slipped 3 percent on a like-for-like basis as a decline in emerging markets was unable to offset a significant rise in Europe and North America.

Lufthansa

Indicated 0.4 percent lower

April traffic figures due at 1100 GMT.

Linde

Indicated 0.2 percent higher

A deal with U.S. peer Praxair is expected to be finalised within weeks, chairman Wolfgang Reitzle told Reuters, reiterating his determination to get the deal done despite union opposition.

MERCK KGaA

Indicated 0.1 percent higher

U.S. health regulators late on Tuesday granted accelerated approval for Merck KGaA's immuno-oncology drug Bavencio, also known as avelumab, to treat advanced bladder cancer, marking the second approval in less than two months for the treatment developed along with Pfizer.

Sap

Indicated unchanged

SAP needs to pay staff as well as its United States based rivals do, to remain competitive, Chairman Hasso Plattner told German daily Handelsblatt.

Axel Springer

Indicated 0.3 percent lower

The publisher reported a 17 percent rise in first quarter core profit, helped by its online classified ads, which more than compensated for declines in its classical paper and magazines business.

Brenntag

Indicated 2 percent lower

Q1 EBITDA up 5 percent to 201.6 mln euros, below analyst forecasts for 205 million. Company says still expects growth in operating gross margin and EBITDA for 2017.

Hannover Re

Indicated 0.4 percent higher

The reinsurer reported a small drop in first-quarter net income on Wednesday, in line with expectations, but said it was on track to meet its full-year profit target.

Hochtief

Indicated 2 percent higher

The group reported a 30 percent jump in first-quarter operational net profit and affirmed its guidance for 2017.

Hochtief said E.E. Cruz had been awarded a $70 million contract to build a Westchester Bridge project.

Separately, its unit CIMIC and its partners will deliver three new projects worth A$276 million ($203 million)for Main Roads Western Australia following a renegotiation of the Roe 8 contract.

CIMIC also won A$117 million in solar EPC projects.

Leg Immobilien

Up 0.3 percent in early Frankfurt trade

The property group reported first-quarter financial results and said it was in concrete talks to buy several portfolios in its core regions.

Leoni

Indicated 0.5 percent higher

The automotive supplier affirmed its 2017 guidance after its first-quarter sales and earnings rose.

Norma

Down 1.6 percent in early Frankfurt trade

The company confirmed 2017 targets after reporting Q1 results.

Bechtle

Indicated 0.1 percent lower

The company confirmed 2017 guidance after Q1 results.

Carl Zeiss Meditec

Indicated 0.1 percent lower

The group reported a 26 percent increase in first-half operating profit as it reported full results for the period.

Evotec

Indicated 3.1 percent higher

The company affirmed 2017 guidance after a 13 percent rise in Q1 profit.

Biotest

Indicated 0.3 percent lower

Biotest reported a 17 percent drop in first-quarter revenues after the recall of various batches of human albumin, which recently forced it to slash its 2017 guidance.

Patrizia Immobilien

Indicated 1 percent lower

Reported Q1 operating income 9.3 million euros, and confirmed its full-year guidance.

scout24

Indicated 1 percent lower

The group said it was on track to reach its 2017 targets as it reported an 8 percent rise in core profit for the first quarter.

Annual General Meetings

E.ON - 0.21 eur/shr dividend proposed

HEIDELBERGCEMENT - 1.60 eur/shr dividend proposed

LINDE - 3.70 eur/shr dividend proposed

SAP - 1.25 eur/shr dividend proposed

VOLKSWAGEN - 2.06 eur/shr dividend proposed

HANNOVER RE - 5.00 eur/shr dividend proposed

HOCHTIEF - 2.60 eur/shr dividend proposed

K+S - 0.30 eur/shr dividend proposed

DRAEGERWERK - 0.19 eur/preference shr, 0.13 eur/ordinary shr dividend proposed

BIOTEST - 0.07 eur/preference shr, 0.05 eur/ordinary share dividend proposed

HAMBORNER REIT - 0.43 eur/shr dividend proposed

TAKKT - 0.55 eur/shr dividend proposed

Ex-Dividend

RHEINMETALL - dividend 1.45 eur/shr

CTS EVENTIM - dividend 0.98 eur/shr

TELEFONICA DEUTSCHLAND - dividend 0.25 eur/shr

Analysts' Views

KLOECKNER & CO - Helvea Baader raises to "hold" from "sell"

ZALANDO - Goldman Sachs removes the stock from its Pan-European Conviction List, with a "buy" rating

Overseas Stock Markets

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

Nikkei +0.3 pct, Shanghai stocks -0.4 pct.

Time: 6.15 GMT.

German Economic Data

No economic data scheduled.

European Factors to Watch

Diaries

REUTERS TOP NEWS ($1 = 1.3581 Australian dollars) ($1 = 0.9181 euros) (Reporting by Edward Taylor and Maria Sheahan)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below