June 29, 2017 / 5:13 AM / in 25 days

German stocks - Factors to watch on June 29

5 Min Read

FRANKFURT, June 29 (Reuters) - The DAX top-30 index looked set to open 0.5 percent higher on Thursday, according to premarket data from brokerage Lang & Schwarz at 0628 GMT.

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

Bmw

Indicated 0.4 percent higher

The German automaker plans to unveil an electric version of its popular 3 Series in September, a move designed to fend off rival Tesla, Handelsblatt reported on Wednesday. The German carmaker will present the vehicle at the IAA auto show in Frankfurt in September, the paper said. BMW declined to comment.

Daimler

Indicated 0.5 percent higher

Daimler's Mercedes-Benz said it was cancelling the early shift for its E-Class production at its plant in Sindelfingen, Germany on Saturday amid a dispute with labour representatives.

Deutsche Bank

Indicated 1.6 percent higher

A U.S. federal judge has dismissed a lawsuit accusing Deutsche Bank of concealing major deficiencies in its anti-money laundering controls, even as it allowed "mirror trades" to launder money out of Russia as part of a $10 billion trading scheme.

Separately, the Federal Reserve has approved plans from the 34 largest U.S. banks to use extra capital for stock buybacks, dividends and other purposes beyond being a cushion against catastrophe.

Deutsche Telekom

Indicated 1.6 percent higher

A German regulator has suspended the launch of a law obliging German telecom companies to keep telephone and Internet data for up to 10 weeks to help fight crime, citing a court ruling. German telecoms company Deutsche welcomed the suspension of the new law.

Siemens

Indicated 0.5 percent higher

Siemens and Bombardier are exploring options including two rail joint ventures as part of their planned train-equipment tie up, Bloomberg reported, citing people familiar with the matter.

Electric vehicle charging station maker ChargePoint Inc said on Wednesday it had secured $43 million in financing led by German engineering group Siemens, bringing to a close the U.S. company's latest funding round at $125 million.

Volkswagen

Indicated 0.6 percent higher

A federal judge in California on Wednesday allowed some claims to proceed by investors who sued Volkswagen AG over its diesel emissions scandal, but agreed to the German automaker's request to dismiss parts of the lawsuit.

Also, Dutch foundation Stichting Volkswagen Car Claim said it could demand in court 4 to 4.5 billion euros in damages from Volkswagen for 180,000 drivers in the Netherlands if it fails to reach an out of court agreement with Volkswagen, its board member Guido Van Woerkom told Frankfurter Allgemeine Zeitung.

Aurubis

Indicated 1.5 percent higher

The copper smelter could spend up to around 1.8 billion euros on acquisitions, Chief Executive Juergen Schachler told German business daily Boersen-Zeitung in an interview.

Covestro

Up 0.8 percent in early Frankfurt trade

Covestro pledged it would return cash to shareholders if it cannot find a suitable major takeover target within two years as it expects to generate 5 billion euros in total operating cash flow after investments over the next five years.

Hella

Indicated 0.5 percent higher

Capital Markets Day due.

Lanxess

Indicated 0.6 percent higher

The company is sticking with its strategy after Berkshire Hathaway, the conglomerate run by billionaire Warren Buffett, acquired a 3 percent stake in the German chemicals maker, its Chief Executive Matthias Zachert told Handelsblatt.

Dialog Semiconductor

Indicated 1.9 percent higher

The group said it was investing an additional $15 million in Energous.

Gft Technologies

Indicated 0.5 percent higher

Capital Markets Day due.

Delivery Hero

The group set the final offer price for its planned initial public offering at 25.50 euros per share, at the top end of its range of 22.00 to 25.50 euros.

Annual General Meetings

MLP - 0.08 eur/shr dividend proposed

Ex-Dividend

DEUTSCHE EUROSHOP - dividend 1.40 eur/shr

Analysts' Views

DEUTSCHE TELEKOM - RBC cuts to "sector perform" from "outperform"

HEIDELBERGCEMENT - Deutsche Bank raises to "buy" from "hold", lifts price target to 99 euros from 89 euros

Overseas Stock Markets

Dow Jones +0.7 pct, S&P 500 +0.9 pct, Nasdaq +1.4 pct at close.

Nikkei +0.5 pct, Shanghai stocks +0.3 pct.

Time: 6.23 GMT.

German Economic Data

The mood among German consumers rose to its highest level in almost 16 years heading into July, a survey showed on Thursday, supporting expectations that private consumption will contribute strongly to growth this year.

German preliminary June inflation data due at 1200 GMT. CPI seen flat m/m, +1.4 pct y/y. HICP seen flat m/m, +1.3 pct y/y.

European Factors to Watch

Diaries

REUTERS TOP NEWS (Reporting by Tom Sims and Maria Sheahan)

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