June 22, 2017 / 5:11 AM / in 4 months

German stocks - Factors to watch on June 22

FRANKFURT, June 22 (Reuters) - The DAX top-30 index looked set to open unchanged on Thursday, according to premarket data from brokerage Lang & Schwarz at 0626 GMT.

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

PROSIEBENSAT.1

Indicated up 0.1 percent

There are several parties interested in the broadcaster’s online travel platforms weg.de and Tropo, Chief Executive Thomas Ebeling told Reuters, without providing details.

SAP, SOFTWARE AG

SAP indicated up 0.5 percent

Software AG indicated up 0.2 percent

SAP’s U.S. peer Oracle’s quarterly profit blew past Wall Street estimates, and the business software maker forecast upbeat current-quarter earnings, indicating that its transition to cloud is starting to pay off.

VOLKSWAGEN

Indicated down 0.1 percent

Volkswagen’s Porsche came third in a J.D. Power initial quality study of new vehicles sold in the United States based on owner responses, behind Kia Motors and Hyundai Motors’ Genesis cars.

Volkswagen’s Slovak unit and unions paused seven-hour negotiations on a wage deal on Wednesday night as a strike continued into its third day.

Volkswagen’s powerful labour unions repeated their opposition to selling Italian motorcycle maker Ducati. “Ducati is a jewel, the sale of which is not supported by the labour representatives on Volkswagen’s supervisory board,” a spokesman for VW group’s works council said in an email.

HOCHTIEF

Indicated up 0.2 percent

Australian unit Cimic was selected for an A$2.81 billion project to build a new metro railway crossing under the Sydney Harbour.

METRO

Indicated up 0.2 percent

Duesseldorf court hearing due on planned split of company.

STADA

Indicated down 0.7 percent

Takeover offer by Bain Capital and Cinven due to run out. On Wednesday, the buyout groups said they had been offered just over 41 percent of shares in Stada, 26 points short of the required minimum.

EVOTEC

Indicated up 0.6 percent

Evotec said it accelerated its joint Lab282 drug discovery project with Oxford University with second-round funding.

WIRECARD

Indicated up 0.3 percent

Wirecard said it signed a contract with Weizmann Forex to offer Western Union money-transfer services in India.

BIOTEST

Indicated down 0.2 percent

Biotest said it had reached the second milestone in its Next Level expansion project, in which it will more than double its production capacity at the Dreieich site, invest over 250 million euros and create around 300 new jobs.

HAMBURGER HAFEN UND LOGISTIK

Indicated down 2.6 percent

Hamburger Hafen und Logistik appointed Ruediger Grube as its new supervisory board chairman.

ANNUAL GENERAL MEETINGS

PATRIZIA IMMOBILIEN - no dividend proposed

EX-DIVIDEND

HHLA - dividend 0.59 eur/shr

ANALYSTS’ VIEWS

KLOECKNER & CO - DZ Bank raises to “buy” from “hold”

HEIDELBERGER DRUCK MASCHINEN - HSBC raises target price to 3.6 euros from 3 euros

INNOGY - Investec starts with “buy”

OVERSEAS STOCK MARKETS

Dow Jones -0.3 pct, S&P 500 -0.1 pct, Nasdaq +0.7 pct at close.

Nikkei -0.1 pct, Shanghai stocks +0.6 pct.

Time: 6.15 GMT.

GERMAN ECONOMIC DATA

No economic data scheduled.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Maria Sheahan and Georgina Prodhan)

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