August 3, 2017 / 4:46 AM / 10 months ago

German stocks - Factors to watch on August 3

FRANKFURT, Aug 3 (Reuters) - The DAX top-30 index looked set to open 0.3 percent lower on Monday, according to premarket data from brokerage Lang & Schwarz at 0623 GMT.

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

ADIDAS

Indicated 0.1 percent higher

The sportswear firm reported another quarter of bumper sales growth in North America and China as it took market share from rivals like Nike and Under Armour.

ALLIANZ

Indicated 0.3 percent lower

LVFS said it was in advanced talks with Allianz for the potential sale of a minority stake in its general insurance operation.

AUTOS

BMW indicated 0.9 percent higher

Daimler indicated 0.3 percent higher

Volkswagen indicated 0.6 percent higher

German politicians and car bosses agreed on Wednesday to overhaul engine software on 5.3 million diesel cars to cut pollution and try to repair the industry’s battered reputation.

Separately, the California environmental agency that probed Volkswagen’s diesel vehicles for violating pollution-control rules is now scrutinizing whether some gasoline-powered vehicles are emitting excess pollution, according to a senior official.

BASF

Indicated 0.1 percent lower

The chemicals company said it currently had no indication that a network disruption affecting logistics at its Ludwigshafen headquarters was caused by a cyber attack.

BEIERSDORF

Indicated 0.6 percent lower

The group said a recent cyber attack led to a shift of sales from the second to the third quarter, as it reported first-half results.

BMW

Indicated 0.9 percent higher

The carmaker posted a forecast-beating 7.5 percent rise in second-quarter profits as sales of its new 5-series helped to offset slowing demand for luxury cars in the United States.

CONTINENTAL

Indicated 0.2 percent lower

Q2 results due. Adjusted EBIT seen at 1.21 billion euros. Poll:

DEUTSCHE TELEKOM

Indicated 1.5 percent higher

Europe’s biggest telecom company posted quarterly results that topped expectations, with a 9 percent rise in core profit powered by strong results in the United States and modest gains in Germany and Europe.

LUFTHANSA

Indicated 0.3 percent lower

Lufthansa Technik aims to cut costs at its commercial aircraft maintenance business, which employees 4,000 people in Germany, by 25 percent, the Lufthansa unit’s Chief Executive Johannes Bussmann told daily Hamburger Abendblatt.

MERCK

Indicated 0.4 percent higher

Merck KGaA saw new Chinese rivals chip away further at its dominant market position in liquid crystals used in flat-screen TVs, dragging second-quarter earnings lower.

PROSIEBENSAT.1

Indicated 1 percent higher

The free-to-air broadcaster tempered its TV advertising market outlook after cutting it in May, but confirmed its full-year revenue and profit targets thanks to its e-commerce ventures and operating cost savings.

SIEMENS

Indicated 1.6 percent lower

Industrial group Siemens plans an initial public offering of its healthcare unit, expected to value the business at up to 40 billion euros, in the first half of 2018, it said in a statement on Thursday.

Separately, a consortium of Greece’s GEK Terna, France’s Vinci and Siemens is expected to bid for Greece’s tender to build a 1.45 billion euro project to expand the Athens metro, GEK Terna said. A source said four bidders were expected to show interest.

DUERR

Indicated 4.3 percent lower

The group affirmed its guidance as it reported an 8.7 percent jump in second-quarter order intake.

EVONIK

Up 0.4 percent in early Frankfurt trade

German’s Evonik saw adjusted core profit increase in the second quarter, bolstered by strong demand for silica chemicals for tyres and by new additives businesses purchased from Air Products Inc.

FRAPORT

Indicated 0.6 percent lower

The airport operator said it expected passenger numbers at Frankfurt airport to rise by around 5 percent this year, faster than it previously expected, thanks to good travel demand.

RHEINMETALL

Indicated 2.6 percent higher

The defence group raised its full-year outlook for sales and profit margins after a string of orders from Germany’s armed forces and a rise in profits at its automotive division.

STADA

Indicated 0.1 percent lower

The group posted secnod-quarter results and forecast 2017 adjusted EBITDA of 430 to 450 million euros.

COMPUGROUP MEDICAL

Indicated 0.2 percent lower

The group stuck with an outlook for 2017 EBITDA of 138 million to 150 million euros after it reported a rise in second-quarter profit.

MEDIGENE

Down 0.6 percent in early Frankfurt trade

The group stuck with its outlook for 2017 as it reported first-half results.

MORPHOSYS

Indicated 2.4 percent higher

The company affirmed its full-year guidance for an EBIT loss of 75 million to 85 million euros as it reported a second-quarter loss of 15.4 million.

NORDEX

Indicated 3.5 percent higher

Nordex posted higher-than-expected second-quarter results, citing rising demand for its wind turbines as well as growth at its services business.

BAYWA

Indicated 0.3 percent lower

The group affirmed its guidance for a significant increase in sales and EBIT this year as it reported first-half results.

DEUTZ

Indicated 0.1 percent lower

The company affirmed its guidance as it reported first-half results.

DIC ASSET

Up 0.5 percent in early Frankfurt trade

The group raised its full-year FFO forecast to 59-61 million euros as it reported first-half results.

HAMBORNER REIT

Indicated unchanged

The group said it had extended leases with anchor tenants in Luebeck’s Haerder Center.

RHOEN-KLINIKUM

Indicated 0.1 percent lower

The group forecast full-year EBITDA of 85 million to 105 million euros, as it reported first-half EBITDA of 50.2 million euros.

ANALYSTS’ VIEWS

FUCHS PETROLUB - Berenberg cuts to “sell” from “hold”, raises target price to 42 euros from 40.20 euros

GERMAN ECONOMIC DATA

German final Markit PMI for July due at 0755 GMT. Services PMI seen unchanged at 53.5 points, composite PMI unchanged at 55.1.

DIARIES

REUTERS TOP NEWS ($1 = 0.8457 euros) (Reporting by Maria Sheahan)

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