June 16, 2017 / 5:14 AM / a month ago

German stocks - Factors to watch on June 16

3 Min Read

BERLIN/FRANKFURT, June 16 (Reuters) - The DAX top-30 index looked set to open 0.3 percent higher on Friday, according to premarket data from brokerage Lang & Schwarz at 0609 GMT.

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

Greece

Euro zone governments threw Greece another 11th-hour credit lifeline on Thursday worth $9.5 billion and sketched new detail on possible debt relief as the IMF finally offered to help out after two years of hesitation.

Adidas

Indicated 0.2 percent higher

A federal judge has rejected the sportswear company's effort to block Skechers USA Inc from selling athletic sneakers that it said copied its "Springblade" concept.

Autos

BMW indicated 0.4 percent higher

Daimler indicated 0.3 percent higher

Volkswagen indicated 0.4 percent higher

European car sales rose 7.7 percent in May from the same month a year ago, industry data showed on Friday, returning to growth after a dip in April and with nearly all auto manufacturers recording sales increases.

Separately, California legislators on Thursday tightened rules requiring Volkswagen to spend a portion of clean car infrastructure funds in disadvantaged communities, passing a bill as part of a budget package agreed with Governor Jerry Brown.

Also, VW group sales for May due.

Airbus

Up 0.2 percent higher in early Frankfurt trade

Chief Executive Tom Enders backed the group's A380 superjumbo despite lowered demand expectations, saying it was "much too early" to predict an end to the programme.

Innogy

Indicated 0.2 percent higher

The market situation in Britain is increasingly difficult, Innogy's finance chief Bernhard Guenther told Boersen-Zeitung in an interview.

Zalando

Indicated 0.4 percent higher

Europe's biggest online fashion company hosts media presentations ahead of a June 20 capital markets day.

Pfeiffer Vacuum

Indicated 0.3 percent higher

German financial watchdog Bafin is looking into purchases of shares in Pfeiffer Vacuum by rival Busch, WirtschaftsWoche reported, citing Bafin.

Analysts' Views

HEIDELBERGCEMENT - Davy Research raises to "outperform", lifts target price to 105 euros

ALSTRIA OFFICE REIT - HSBC cuts to "hold" from "buy"

DEUTSCHE EUROSHOP - HSBC cuts to "hold" from "buy", cuts target price to 42.50 euros from 47.50 euros

HAMBORNER REIT - HSBC cuts to "hold" from "buy", lowers target price to 11 euros from 12 euros

Overseas Stock Markets

Dow Jones -0.1 pct, S&P 500 -0.2 pct, Nasdaq -0.5 pct at close.

Nikkei +0.6 pct, Shanghai stocks -0.2 pct.

Time: 6.16 GMT.

German Economic Data

No economic data due.

European Factors to Watch

Diaries

REUTERS TOP NEWS (Reporting by Andreas Cremer and Maria Sheahan)

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