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German stocks - Factors to watch on February 9
February 9, 2017 / 5:51 AM / 10 months ago

German stocks - Factors to watch on February 9

FRANKFURT, Feb 9 (Reuters) - The DAX top-30 index looked set to open 0.2 percent higher on Thursday, according to premarket data from brokerage Lang & Schwarz at 0719 GMT.

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


BMW indicated 0.2 percent higher

Daimler indicated unchanged

Volkswagen indicated 0.2 percent lower

Passenger vehicle sales in China to retail customers fell 9.8 percent in January from a year earlier, the China Passenger Car Association (CPCA) said on Thursday.


Indicated 1.9 percent higher

Commerzbank reported flat revenues and earnings for the fourth quarter on Thursday, hit by the impact of low interest rates coupled with weak loan demand from German companies.


Indicated 0.3 percent higher

Germany’s flagship lender is closing its U.S. swaps clearing business as it battles to cut costs amid continued questions over its business model, the Financial Times reported, citing people briefed on its plans.


Indicated unchanged

The company is in talks to buy Diversey, the professional cleaning unit of U.S.-based Sealed Air, for more than $3 billion, the New York Post reported, citing two sources.


Indicated 1.6 percent lower

The German chipmaker and U.S. LED lighting maker Cree warned that Cree’s planned sale of Wolfspeed Power and RF to Infineon might not go ahead, citing security concerns by the U.S. government.


Indicated 0.1 percent higher

January traffic figures due at 1200 GMT.


Indicated unchanged

Capital Markets Day due.

Separately, Wirtschafts Woche weekly reported that union IG Metall and Verdi have filed a suit against SAP’s change to a Societas Europaea (SE) because it does not guarantee representation of workers on the supervisory board.


Indicated unchanged

The industrial group posted a 40 percent jump in first-quarter adjusted operating profit, in line with expectations, but said on Thursday it expected a recovery in its European steel business only later in the year.


Indicated 0.2 percent lower

Volkswagen said it was weighing steps against ex-Chairman Ferdinand Piech after media reports said he had informed key supervisory board members about potential diesel cheating six months before the scandal became public.

Separately, VW’s personnel chief told news agency DPA that he was confident that management and labour representatives would reach agreement over the group’s “future pact”, saying a row with the works council likely stemmed from a misunderstanding.


Up 0.2 percent in early Frankfurt trade

Germany is demanding almost 40 million euros in damages for the delayed delivery of its first five A400M aircraft from Airbus, German daily Bild reported.

Separately, Bloomberg cited sources as saying that Boeing Co is the front-runner as Singapore Airlines Ltd is closing in on a 35 wide-body aircraft order amid a battle with Chinese and Middle Eastern carriers.


Indicated 0.1 percent higher

Australian unit Cimic won a new contract from Cakrawala Langit Sejahtera (CLS) and a contract extension with Bayan Resources Group, with a combined value of A$134 million ($102 million).


Indicated 0.3 percent lower

The company said it aimed to post 2017 EBITA of more than 30 million euros, sa it reported preliminary 2016 financial results.


No indication available

The company affirmed its full-year guidance as it reported first-quarter results.


Indicated 1.3 percent higher

The group reported a 27 percent jump in net profit for the year as well as higher funds from operations.

It also said it had signed a contract to buy the Market Oberfranken retail centre in Hallstadt for 40.5 million euros.


Indicated 0.2 percent lower

The group affirmed its full-year targets as it reported its third-quarter net profit more than doubled to 18 million euros.


Indicated 0.3 percent higher

Q4 results due.


Up 0.2 percent in early Frankfurt trade

Zeal Network said its supervisory board had selected Peter Steiner to succeed Andreas de Maiziere as its chairman.


HUGO BOSS - Exane BNP Paribas cuts to “neutral” from “outperform”


Dow Jones -0.2 pct, S&P 500 +0.1 pct, Nasdaq +0.2 pct at close.

Nikkei -0.5 pct, Shanghai stocks +0.5 pct.

Time: 7.25 GMT.


Germany’s trade surplus hit a new record in 2016 despite a drop in exports narrowing the monthly measure for Europe’s largest economy in December, data showed on Thursday.



REUTERS TOP NEWS ($1 = 0.9396 euros) ($1 = 1.3125 Australian dollars) (Reporting by Christoph Steitz and Maria Sheahan)

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