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German stocks - Factors to watch on December 7
December 7, 2016 / 6:22 AM / a year ago

German stocks - Factors to watch on December 7

FRANKFURT, Dec 7 (Reuters) - The DAX top-30 index looked set to open 1.1 percent higher on Wednesday, according to premarket data from brokerage Lang & Schwarz at 0741 GMT.

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

DAIMLER

Indicated 0.9 percent higher

A U.S. judge threw out a proposed class action lawsuit alleging that automaker Mercedes misled consumers about emissions standards in “BlueTec Clean Diesel” vehicles.

DEUTSCHE BANK

Indicated 2.9 percent higher

Karin Dohm take on the job of head of regulation and report to Sylvie Matherat, Sueddeutsche Zeitung said.

LINDE

Indicated 0.9 percent higher

The industrial gases group’s supervisory board is due to meet. Sources told Reuters that it was likely to discuss a fresh merger overture by U.S.-based Praxair.

LUFTHANSA

Indicated 1 percent higher

Lufthansa holds a supervisory board meeting.

SIEMENS

Indicated 0.7 percent higher

Siemens has registered a joint venture with U.S. gas turbine engine specialist Chromalloy with Germany’s cartel authorities, German daily Die Welt said.

THYSSENKRUPP

Indicated 1.2 percent higher

Tata Steel is ready to guarantee jobs and investment in return for a pension deal, the Financial Times said. Settling the pension issue removes a hurdle to a deal with Thyssenkrupp.

VOLKSWAGEN

Indicated 0.8 percent higher

South Korea said it will file criminal complaints against five former and current executives at Volkswagen’s South Korean unit and fine the company a record 37.3 billion won ($31.87 million) for false advertising on vehicle emissions.

Separately, Czech carmaker Skoda Auto, a unit of VW, aims to double production to more than 2 million vehicles annually by 2025, Chief Executive Bernhard Maier says in interview with newspaper Mlada Fronta Dnes.

HOCHTIEF

Indicated 0.5 percent higher

The group’s Australian unit CIMIC said it was extending the offer period for UGL to Dec. 21.

STEINHOFF

Up 3.6 percent in early Frankfurt trade

The company reported a 12 percent rise in fourth-quarter revenue and said it expected sales momentum to continue for the rest of the year.

SYMRISE

Indicated 0.9 percent higher

The company extended the contract of its chief executive until 2022.

BRAAS MONIER

Indicated 0.6 percent higher

The group said a Luxembourg court would hold a hearing on Dec. 12 about a preliminary injunction obtained by suitor Standard Industries.

KNORR-BREMSE

German auto supplier Knorr-Bremse said it holds an 86.1 percent stake in Swedish brake systems firm Haldex after rival ZF Friedrichshafen withdrew from a takeover battle.

ANALYSTS’ VIEWS

BAYER - UBS raises to “buy” from “neutral”

DEUTSCHE POST - RBC raises to “outperform” from “sector perform”, lifts target price to 33 euros from 31 euros

AURUBIS - Credit Suisse cuts to “neutral” from “outperform”, cuts target price to 51 euros from 63 euros

OVERSEAS STOCK MARKETS

Dow Jones +0.2 pct, S&P 500 +0.3 pct, Nasdaq +0.5 pct at close.

Nikkei +0.7 pct, Shanghai stocks +0.7 pct.

Time: 7.45 GMT.

GERMAN ECONOMIC DATA

German industrial production rose less than expected in October, data showed on Wednesday, in a sign that Europe’s biggest economy started the fourth quarter on a weak footing.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Ludwig Burger and Edward Taylor)

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