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German stocks - Factors to watch on September 29
September 29, 2016 / 5:10 AM / a year ago

German stocks - Factors to watch on September 29

BERLIN, Sept 29 (Reuters) - The DAX top-30 index looked set to open 1.1 percent higher on Thursday, according to premarket data from brokerage Lang & Schwarz at 0610 GMT.

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

BMW, DAIMLER, VOLKSWAGEN

BMW indicated 1.3 pct higher

First press day at Paris auto show.

VOLKSWAGEN

Indicated 1.3 pct higher

Chief Executive Matthias Mueller said on Wednesday he is hopeful the German automaker can reach agreement by the end of the year with the U.S. government on the size of a fine to settle a criminal investigation of the company’s alleged violations of U.S. clean air laws.

DEUTSCHE BANK

Indicated 2.4 pct higher

The German government on Wednesday denied that it was working on a rescue of Deutsche Bank after a newspaper report about such plans fuelled fears over the future of the biggest lender in Europe’s largest economy, while ECB President Mario Draghi said that the bank’s low interest rate policies were not to blame for the German group’s problems.

COMMERZBANK

Indicated 1.5 pct higher/lower

The bank is planning to cut 10,000 jobs, Bild reported without citing its sources. Reuters has previously reported 9,000 job cuts are on the cards, with plans due to be unveiled on Friday.

DAIMLER

Indicated 1.1 pct higher

Daimler on Wednesday said it was working on a new “hypercar” and also plans to expand its range of upmarket AMG Mercedes-Benz performance cars by at least 10 models.

LUFTHANSA

Indicated 1.4 pct higher

The carrier said late on Wednesday it was in talks with Air Berlin on a deal to lease 40 planes and crew from its loss-making rival, part of plans to expand its low-cost Eurowings unit.

RATIONAL

Indicated 0.6 pct higher/lower

Company holds an analyst day.

EVOTEC

Indicated 1.7 pct higher

The company said it had reached a further pre-clinical milestone in endometriosis alliance with Bayer.

MORPHOSYS

Indicated 1.7 pct higher

Morphosys said it and Galapagos have started the first-in-patient dosing of IL-17C antibody MOR106 in atopic dermatitis.

ENBW

EBNW holds a capital markets day.

AIR BERLIN

Indicated 3.1 pct higher

The loss-making carrier unveiled a far-reaching overhaul, including the planned lease of planes to Lufthansa, plus a move to separate out short-haul leisure flights into a new unit. Overall, 1,200 jobs will go and its fleet will halve.

AIRBUS

Indicated xx pct higher/lower

German Defence Minister Ursula von der Leyen hopes to make a decision this autumn about whether to acquire a smaller military transport plane to cover a gap in capabilities once the Transall transport leaves service in 2021, she told Reuters in an interview.

HORNBACH HOLDING, HORNBACH BAUMARKT

No indication available

H1 results expected.

DIC ASSET

No indication available

The company raised its FFO forecast for 2016 to 46 million - 47 million euros.

ANNUAL GENERAL MEETINGS

HELLA - 0.77 eur/shr dividend proposed

ANALYSTS’ VIEWS

KRONES - HSBC raises to “Buy” from “Hold”

TAKKT - Berenberg lowers to “Hold” from “Buy”

ADO PROPERTIES - Barclays cuts to “equal-weight” from “overweight”

OVERSEAS STOCK MARKETS

Dow Jones +0.6 pct, S&P 500 +0.5 pct, Nasdaq +0.2 pct at close.

Nikkei +1.4 pct, Shanghai stocks +0.4 pct.

Time: 6.24 GMT.

GERMAN ECONOMIC DATA

German Sept unemployment due at 0755 GMT. Rate seen at seasonally adjusted 6.1 pct

German Sept preliminary inflation data due at 1200 GMT. CPI seen flat m/m, +0.6 pct y/y, HICP seen flat m/m, 0.5 pct y/y

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Georgina Prodhan and Victoria Bryan)

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