January 11, 2017 / 6:17 AM / a year ago

German stocks - Factors to watch on January 11

FRANKFURT, Jan 11 (Reuters) - The DAX top-30 index looked set to open 0.1 percent lower on Wednesday, according to premarket data from brokerage Lang & Schwarz at 0735 GMT.

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

VOLKSWAGEN

Indicated 1.2 percent higher

The carmaker confirmed Tuesday it has negotiated a $4.3 billion concrete draft settlement with U.S. regulators to resolve its diesel emissions issues and plans to plead guilty to criminal misconduct as part of the civil and criminal settlement.

South Korean prosecutors indicted seven current and former executives and employees of Volkswagen’s local unit as well as one contractor for alleged violation of the Clean Air Conservation Act and other charges, the prosecutors’ office said.

BANKS

COMMERZBANK, DEUTSCHE BANK

Commerzbank indicated 0.2 percent lower

Deutsche Bank indicated unchanged

New capital rules being drafted by global banking regulators will burden some German lenders, albeit in a reasonable fashion, the head of German financial watchdog Bafin said.

CONTINENTAL

Indicated 0.1 percent lower

The automotive supplier said it has invested an undisclosed amount in Urban Software Institute GmbH to improve connected-car technology offerings.

DEUTSCHE POST

Indicated 0.1 percent higher

Canadian union Unifor said DHL workers will be in legal strike position on Feb. 5.

SIEMENS

Indicated 1.2 percent lower

The industrial group is keeping to forecasts for the 2016/17 business year, it said in an investor presentation.

AIRBUS

No indication available

The planemaker announces 2016 aircraft deliveries at 0900 GMT.

PORSCHE SE

No indication available

The holding company that is VW’s largest shareholder issued a profit warning after VW disclosed the key elements of a U.S. settlement to resolve its diesel emissions issues.

ANALYSTS’ VIEWS

BEIERSDORF - UBS assumes coverage with “sell” vs prior “neutral” rating

HENKEL - UBS assumes coverage with “sell” vs prior “neutral rating”

RWE - Barclays raises to “equal weight” from “underweight”, raises target price to 12.20 eur

SIEMENS - Goldman Sachs cuts to “sell” from “buy”, cuts target price to 100 euros from 118 euros

OVERSEAS STOCK MARKETS

Dow Jones -0.2 pct, S&P 500 unchanged, Nasdaq +0.4 pct at close.

Japan’s Nikkei average +0.33 pct, Shanghai stocks -0.8 pct.

Time: 7.21 GMT.

GERMAN ECONOMIC DATA

No economic data scheduled.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Ludwig Burger and Andreas Cremer)

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