June 2, 2017 / 5:05 AM / 3 months ago

German stocks - Factors to watch on June 2

BERLIN/FRANKFURT, June 2 (Reuters) - The DAX top-30 index looked set to open 0.6 percent higher on Friday, according to premarket data from brokerage Lang & Schwarz at 0615 GMT.

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

ALLIANZ

Indicated 0.3 pct higher

The insurer has signed a naming rights accord with Juventus Football Club for Turin stadium.

BASF

Indicated 0.4 pct higher

China's Sinopec and BASF said they would nearly double production of food preservative propionic acid at a site in east China's Nanjing.

BMW

Indicated 0.4 pct higher

The luxury carmaker said U.S. sales fell 11 percent in May to 25,818 cars.

COMMERZBANK

Indicated 0.8 pct higher

The lender on Thursday announced significant steps in its effort to shed its 4.5 billion euro ($5.05 billion) portfolio of distressed shipping loans.

DAIMLER

Indicated 0.7 pct higher

A federal judge in California will allow a U.S. investor class action lawsuit against Daimler and several senior executives to proceed over allegations the company did not disclose excess emissions.

LINDE

Indicated 1.4 pct higher

The boards of Linde and Praxair voted on Thursday to merge, creating a $73 billion global industrial gases leader in what is likely to be the last in a wave of combinations that has resulted in a highly consolidated market.

VOLKSWAGEN

Indicated 0.6 pct higher

Audi's emissions scandal flared up again on Thursday after the German government accused the carmaker of cheating emissions tests with its top-end models, the first time Audi has been accused of such wrongdoing in its home country.

U.S. sales in May rose 4.3 percent year on year to 30,014 vehicles, VW said.

U.S. sales at luxury brand Audi rose 2.5 percent year on year to 19,197 cars.

EVONIK

1 pct higher in early Frankfurt trading

The new chief executive of the chemical company set himself a target of improving margins of adjusted core earnings over sales to 18-20 percent, up from 17 percent last year.

The CEO also said nothing is for sale at present but divestments are a potential lever.

ANNUAL GENERAL MEETINGS

DEUTSCHE WOHNEN - 0.74 eur/shr dividend proposed

SLM SOLUTIONS - no dividend proposed

ROCKET INTERNET - no dividend proposed

EX-DIVIDEND

FIELMANN - dividend 1.80 eur/shr

SALZGITTER - dividend 0.30 eur/shr

BECHTLE - dividend 1.50 eur/shr

FREENET - dividend 1.60 eur/shr

NEMETSCHEK - dividend 0.65 eur/shr

WUESTENROT & WUERTTEMBERGISCHE - dividend 0.60 eur/shr

ANALYSTS' VIEWS

LUFTHANSA - HSBC raises "Buy" from "Hold"

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

OVERSEAS STOCK MARKETS

Dow Jones +0.7 pct, S&P 500 +0.8 pct, Nasdaq +0.8 pct at close.

Nikkei +1.6 pct, Shanghai stocks +0.1 pct.

Time: 6.16 GMT.

GERMAN ECONOMIC DATA

No economic data scheduled.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Andreas Cremer and Harro ten Wolde)

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