August 22, 2016 / 5:10 AM / a year ago

German stocks - Factors to watch on August 22

FRANKFURT, Aug 22 (Reuters) - The DAX top-30 index looked set to open 0.2 percent lower on Monday, according to premarket data from brokerage Lang & Schwarz at 0620 GMT. The following are some of the factors that may move German stocks:

DAIMLER

Indicated 0.1 percent higher

A Daimler spokesman said the company has a limited relationship with parts supplier Prevent. “There is a lawsuit pending,” the spokesman said. Prevent is also involved in a clash with Volkswagen.

LINDE

Indicated 0.3 percent lower

Linde’s headquarters may move to Britain, the Netherlands or Ireland after a merger with Praxair, and Praxair Chief Executive (CEO) Stephen Angel could become CEO of the combined company while Linde’s Wolfgang Reitzle could emerge as chairman of the combined company, Handelsblatt said in its Monday edition.

DEUTSCHE BANK

Indicated 0.5 percent lower

JPMorgan Chase & Co on Friday said it had settled litigation with the FDIC and Deutsche Bank stemming from its purchase of Washington Mutual Inc’s banking operations during the financial crisis.

E.ON

Indicated 0.1 percent higher

German utility E.ON’s power plant and energy trading unit Uniper on Monday posted a 50 percent rise in first half operating profit as strong earnings from trading helped offset losses in European and Russian power generation.

VOLKSWAGEN

Indicated 1 percent lower

Volkswagen said it is seeking a negotiated settlement with suppliers in a dispute over contracts that is halting production at some of its plants. Talks will resume on Monday.

Separately, Porsche has raised productivity at its Stuttgart site and could produce 250 cars per day there by 2017 from 200 per day in 2015, production chief Albrecht Reimold told Automobilwoche.

SIXT

Indicated unchanged

CFO Julian zu Putlitz says the company expects its rental car business in the United States to post an operating profit for the full year for the first time in 2017, according to an interview with Euro am Sonntag newspaper.

WCM BETEILIGUNGS UND GRUNDBESITZ

Q2 results due.

SUEDZUCKER

Indicated 3.3 percent lower

Goldman Sachs removes Suedzucker from pan-Europe buy list.

OVERSEAS STOCK MARKETS

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

Nikkei +0.32 pct, Shanghai stocks -0.6 pct.

Time: 6.19 GMT.

GERMAN ECONOMIC DATA

No economic data scheduled.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Victoria Bryan, Jonathan Gould and Edward Taylor)

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