June 12, 2017 / 5:28 AM / in 4 months

German stocks - Factors to watch on June 12

FRANKFURT, June 12 (Reuters) - The DAX top-30 index looked set to open 0.4 percent lower on Monday, according to premarket data from brokerage Lang & Schwarz at 0605 GMT.

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

VOLKSWAGEN

Indicated 0.2 pct lower

The chief executive of General Motors’ European arm Opel, Karl-Thomas Neumann, plans to resign as GM prepares to sell the business to France’s PSA Group, German newspaper Frankfurter Allgemeine Sonntagszeitung reported on Saturday.

A source familiar with the matter told Reuters on Sunday that Volkswagen is looking into rehiring Neumann, who quit VW in 2013.

Diesel models of VW’s sports car brand Porsche have much higher emissions than is legally allowed, weekly Der Spiegel reported, citing test results.

Separately, VW’s works council head Bernd Osterloh told Sunday paper Bild am Sonntag that, six months into VW’s efficiency drive, 1.4 billion euros in cost cuts have been achieved and 7,400 employees have signed early retirement packages.

VW brand head Herbert Diess told trade weekly Automobilwoche that Chinese competitors have caught up “enormously” in terms of product quality and brand image over the last two to three years. “We take China extremely seriously,” Diess was quoted as saying.

LUFTHANSA

Indicated 0.5 pct lower

Traffic figures for May due at 1100 GMT.

SAP

Indicated 1.0 pct lower

The business software maker is sticking with its M&A strategy to focus on smaller deals in areas such as big data, Internet Of Things and machine learning, finance chief Luka Mucic told weekly Euro am Sonntag.

SIEMENS

Indicated 0.3 pct lower

The engineering group aims to double its business in Argentina by 2020, CEO Joe Kaeser told German broadcaster ARD on Friday, speaking in Buenos Aires where he accompanies Chancellor Angela Merkel on state visits in Latin America.

AIRBUS

No indication

Airbus has started preparations for a European fighter, the head of Airbus Military told German newspaper Handelsblatt.

ADLER REAL ESTATE

Indicated 1.9 pct lower

The real estate group is looking closely at the possible purchase of 7.500 residential properties, even though buying assets has become more difficult, CEO Arndt Krienen told Welt am Sonntag.

OVERSEAS STOCK MARKETS

Dow Jones +0.4 pct, S&P 500 -0.1 pct, Nasdaq -1.8 pct at close.

Nikkei -0.5 pct, Shanghai stocks -0.6 pct.

Time: 6.09 GMT.

GERMAN ECONOMIC DATA

No economic data scheduled.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Ludwig Burger and Harro ten Wolde)

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