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German stocks - Factors to watch on August 4
August 4, 2017 / 5:16 AM / 2 months ago

German stocks - Factors to watch on August 4

FRANKFURT, Aug 4 (Reuters) - The DAX top-30 index looked set to open 0.1 percent lower on Friday, according to premarket data from brokerage Lang & Schwarz at 0616 GMT.

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

ALLIANZ

Indicated 0.5 percent higher

Full Q2 results published. The insurer released preliminary figures on July 26 and forecast full-year operating profit near the upper end of its target range.

Also, Spain’s Gas Natural said on Thursday it had agreed to sell 20 percent of its Spanish gas distribution assets to a consortium of foreign investors including Allianz Capital Partners for 1.5 billion euros ($1.8 billion).

AUTOS

BMW indicated 0.2 percent higher

Daimler indicated unchanged

Volkswagen indicated 0.3 percent higher

Banning diesel vehicles in European cities could threaten the way automakers help to finance car sales with loans, rating agency Moody’s warned on Thursday, undermining a technique used to help sell billions of euros worth of cars.

COMMERZBANK

Indicated 0.5 percent lower

The German government is likely to consider a sale of its 15.6 percent stake in Commerzbank after federal elections in September, German daily WirtschaftsWoche reported, citing several sources.

AXEL SPRINGER

Indicated 1.3 percent lower

General Atlantic has sold the rest of its shares in Axel Springer for around 121 million euros.

GEA

Indicated 4.8 percent higher

The food-processing machinery maker said late on Thursday that Albert Frere, Belgium’s richest man, holds a stake of just over 3 percent in the company.

HOCHTIEF

Indicated 0.4 percent lower

Australian unit Cimic won a Queensland roads project worth A$215 million ($171.18 million).

S&T

Indicated 3.9 percent higher

The group stuck with its guidance for 2017 EBITDA or more than 50 million euros as it reported first-half results.

PUMA

Indicated 0.1 percent higher

The German sportswear firm could make Jamaican sprint superstar Usain Bolt the head of its Caribbean business once he retires from athletics, the head of Puma was quoted as saying on Thursday. “Usain Bolt could be even more important for us when he stops running,” Chief Executive Bjorn Gulden told the Handelsblatt daily in an interview.

ANALYSTS’ VIEWS

AURUBIS - Morgan Stanley cuts to “underweight” from “equal weight”

FRAPORT - HSBC cuts to “hold” from “buy”, raises target price to 84 euros from 82 euros

COMPUGROUP MEDICAL - Baader Helvea cuts to “hold” from “buy”

OVERSEAS STOCK MARKETS

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

Nikkei -0.4 pct, Shanghai stocks -0.1 pct.

Time: 6.22 GMT.

GERMAN ECONOMIC DATA

German industrial orders rose twice as much as expected in June as domestic demand surged, data showed on Friday, suggesting this sector of Europe’s largest economy is likely to gain traction in the coming months.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS ($1 = 0.8418 euros) ($1 = 1.2560 Australian dollars) (Reporting by Tom Sims and Maria Sheahan)

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