July 28, 2017 / 5:00 AM / 2 years ago

German stocks - Factors to watch on July 28

FRANKFURT, July 28 (Reuters) - The DAX top-30 index looked set to open 0.5 percent lower on Friday, according to premarket data from brokerage Lang & Schwarz at 0617 GMT.

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

ADIDAS

Indicated 4.7 percent higher

The sportswear maker raised its full-year outlook after improving margins helped the German sportswear maker to achieve an 18 percent jump in second-quarter operating profit. Net income now seen between 1.36 and 1.39 bln eur.

AUTOS

BMW indicated 0.8 percent lower

Daimler indicated 0.7 percent lower

Volkswagen indicated 0.4 percent lower

A Stuttgart court is due to rule in a case over an environmental lobby group’s push for a complete ban of diesel vehicles from the city of Stuttgart.

DEUTSCHE BANK

Indicated 0.4 percent lower

The Polish unit of Millennium bcp, Millennium Bank , moved closer to buying Deutsche Bank’s Polish unit, Millennium bcp’s chief executive said on Thursday.

DEUTSCHE TELEKOM

Indicated 0.2 percent lower

German court ruling due in case against a man who committed a cyber attack last year that infected nearly 1 million routers used to access Deutsche Telekom’s internet service.

LINDE

Indicated 0.1 percent higher

The industrial gases group beat expectations with a 2 percent increase in second-quarter operating profit. It provided no update in its first-half report on its planned merger with Praxair.

SIEMENS

Indicated 0.3 percent lower

European Union states have given initial backing to a German proposal to blacklist several more Russian nationals and companies over the delivery of Siemens DE gas turbines to Crimea, but made no final decision, diplomats said.

VOLKSWAGEN

Indicated 0.4 percent lower

H1 results due from Volkswagen’s VW brand, truckmaker MAN and premium carmaker Audi.

Also, Germany will recall Porsche Cayenne models equipped with 3-litre diesel engine after finding potentially illegal emissions controlling software in the vehicles.

Volkswagen said on Thursday it expects cash outflows related to dieselgate to stay below 20 billion euros in 2017.

Separately, California regulators gave Volkswagen the go-ahead on Thursday to start expanding clean vehicle infrastructure across the state, after debate over whether the German automaker’s plan would do enough to help disadvantaged communities.

Also, Volkswagen’s Porsche said it would leave the top category of Le Mans, LMP1, at the end of the season and instead start competing in the Formula E electric-car racing championship in 2019.

MTU AERO ENGINES

Indicated 1.5 percent higher

MTU Aero Engines upgraded its full-year sales and profit targets on Friday, after reporting better than expected second quarter profit thanks to booming demand for maintenance of passenger jet engines.

SALZGITTER

Indicated 2.2 percent lower

The steelmaker said strong sales of strip steel had boosted first half pretax profit. Salzgitter now anticipates 2017 sales of around 9 billion euros, pre-tax profit of between 150-200 million euros, and a higher return on capital.

WACKER CHEMIE

Indicated unchanged

The specialty chemicals maker raised its core profit outlook for the full year, citing the strength of its chemical business as well as income from the reduction of its stake in Siltronic AG.

NEMETSCHEK

Indicated 2.8 percent lower

The software company affirmed its full-year guidance as it reported a jump in first-half earnings.

SILTRONIC

Up 0.1 percent in early Frankfurt trade

The group affirmed its recently raised full-year guidance as it reported a 37 percent jump in second-quarter core profit.

GRENKE

Up 0.5 percent in early Frankfurt trade

The group hiked its guidance for 2017 net profit to 118 to 124 million euros as it reported first-half results.

WASHTEC

Indicated 0.4 percent lower

The maker of car wash systems forecast its full-year EBIT margin would exceed 12 percent, as it reported first-half financial results.

ANALYSTS’ VIEWS

DEUTSCHE BANK - Macquarie cuts to “neutral” from “outperform”, cuts target price to 16.50 euros from 19.00 euros

METRO WHOLESALE & FOOD - HSBC starts with “hold”, 18.50 target price

OVERSEAS STOCK MARKETS

Dow Jones +0.4 pct, S&P 500 -0.1 pct, Nasdaq -0.6 pct at close.

Nikkei -0.6 pct, Shanghai stocks +0.1 pct.

Time: 6.22 GMT.

GERMAN ECONOMIC DATA

German preliminary July inflation data due at 1200 GMT. CPI seen +0.2 pct m/m, +1.5 pct y/y. HICP seen +0.3 pct m/m, +1.4 pct y/y.

DIARIES

REUTERS TOP NEWS ($1 = 0.8536 euros) (Reporting by Edward Taylor and Maria Sheahan)

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