April 3, 2017 / 5:23 AM / 7 months ago

German stocks - Factors to watch on April 3

FRANKFURT, April 3 (Reuters) - The DAX top-30 index looked set to open 0.2 percent higher on Monday, according to premarket data from brokerage Lang & Schwarz at 0605 GMT.

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

VOLKSWAGEN

Indicated 0.1 percent higher

A German prosecutor hopes for first rulings in the VW emissions scandal already this year, according to a report in Automobilwoche magazine on Saturday, while the case itself and the number of defendants is growing.

Supervisory board Hans Dieter Poetsch told Frankfurter Allgemeine separately the case would likely drag on for a long time.

Bild am Sonntag (BamS) said it calculated a suspended board member at Porsche, VW’s majority shareholder, Wolfgang Hatz, has received more than 13 million euros ($13.88 million) from contracts, bonuses and compensation, adding that an earlier report by BamS specifying 12 million euros had been dismissed by a company spokesman. Pay discipline for top executives is in focus.

MUNICH RE

Indicated 0.3 percent higher

Chief executive Holger Kerzel at MEAG, the investment arm of Munich RE, said in a Euro am Sonntag (EaS) interview that eurozone shares are currently interesting and inexpensive after capital flows away from the region in 2016. Investors should look at cyclicals that were benefiting from economic recovery and inflation.

ALSTRIA OFFICE REIT

Indicated unchanged

The real estate firm is to double its current portfolio to 6 billion euros, its chief financial officer Alexander Dexne told BOEZ on Saturday, but he did not supply a likely date.

FRAPORT

Indicated 0.2 percent higher

The airport operator has plans for a low-cost gate possibly for start in 2019, to be used among others by Ireland’s Ryanair and costing 150 million euros, Bild am Sonntag reported on Sunday. It said this was irrespective of Frankfurt airport’s plans for a third terminal, mainly for transit passengers, to become operational by 2023.

JENOPTIK

Indicated 0.1 percent lower

The state of Thuringia is to hold on to its stake in the laser and opticals sensor making group, whose share price is top performer in the TecDAX, gaining over 40 percent since the start of the year, public sector broadcaster mdr reported on Saturday.

SARTORIUS

Indicated 1.8 percent higher

The company expects 2017 sales to rise by 12-16 percent, up from a previous outlook for a 8-12 percent rise, while it expects 2017 underlying EBITDA margin to increase slightly ahead of the half a percentage point previously expected.

BANKS

Finance ministers of the German states of Hamburg and Schleswig-Holstein on Sunday said they were pleased with the first bidding round in the privatisation of shipping finance provider HSH Nordbank, of which they jointly own 85 percent.

Chinese conglomerate HNA Group and Apollo Global Management are looking to bid for German shipping finance provider HSH Nordbank, according to two people familiar with the matter.

Banking fees are due to rise in Germany amid record-low interest rates, the Bundesbank board member Alexander Dombret said in an interview with Die Welt newspaper, due to be published on Monday.

ANALYSTS’ VIEWS

OSRAM - HSBC raises to “BUY” from “HOLD”

KUKA - HSBC cuts to “REDUCE” from “HOLD”

OVERSEAS STOCK MARKETS

Dow Jones -0.3 pct, S&P 500 -0.2 pct, Nasdaq unchanged at close.

Nikkei +0.4 pct, Chinese markets closed.

Time: 6.06 GMT.

GERMAN ECONOMIC DATA

German Manufacturing PMI due at 0755 GMT. Seen at 58.3.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS ($1 = 0.9364 euros) (Reporting by Vera Eckert and Harro Ten Wolde)

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