May 26, 2017 / 4:57 AM / 3 months ago

German stocks - Factors to watch on May 26

FRANKFURT, May 26 (Reuters) - The DAX top-30 index looked set to open 0.2 percent lower on Friday, according to premarket data from brokerage Lang & Schwarz at 0616 GMT.

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

G7 SUMMIT

U.S. President Donald Trump will face pressure at his first summit of major industrialised nations on Friday from allies eager to promote free trade and safeguard international accords on climate change.

OIL PRICES

Oil extended falls on Friday after tumbling in the previous session when OPEC and allied producers extended output cuts but disappointed investors betting on longer or larger supply curbs.

BMW, DAIMLER

BMW indicated 0.1 percent lower

Daimler indicated 0.5 percent lower

BMW and Daimler aim merge their car-sharing platforms Car2Go and DriveNow by the third quarter, Manager Magazin reported, citing no sources. It said the merged group could be based in Berlin or in Munich.

LINDE

Indicated 0.1 percent lower

Linde's supervisory board is to vote on the proposed merger with Praxair in the second half of next week, Handelsblatt reported, citing industry sources.

PROSIEBENSAT.1

Indicated 0.2 percent lower

ProSiebenSat.1 is in talks to buy German event agency Jochen Schweizer, Manager Magazin reported, citing company and financial sources. It did now say how much ProSieben might pay for the firm.

VOLKSWAGEN

Indicated unchanged

California regulators said Volkswagen's spending plan on clean vehicle infrastructure had shortcomings and that it lacked details on how it would help disadvantaged communities as well as promote hydrogen fuel cell technology.

KRONES

Indicated 0.2 percent lower

The bottling machine maker said it had completed the acquisition of U.S.-based process technology firm Javlyn.

METRO

Indicated 0.1 percent lower

Consumer electronics chain Media Markt-Saturn plans to start offering its customers in-home technical support services, unit chief Pieter Haas told Wirtschafts Woche in an interview. He also said the group planned 10-20 net new store opening per year across Europe.

MANZ

Indicated 3.4 percent lower

Manz said Shanghai Electric had not exercised an option to buy shares in the German group from CEO Dieter Manz by a May 24 deadline and make a full takeover offer. Shanghai Electric holds 19.7 percent of shares in Manz.

ANNUAL GENERAL MEETINGS

LANXESS - 0.70 eur/shr dividend proposed

OVERSEAS STOCK MARKETS

Dow Jones +0.3 pct, S&P 500 +0.4 pct, Nasdaq +0.7 pct at close.

Nikkei -0.3 pct, Shanghai stocks +0.1 pct.

Time: 4.55 GMT.

GERMAN ECONOMIC DATA

No economic data scheduled.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by 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