October 28, 2016 / 4:56 AM / 3 years ago

German stocks - Factors to watch on October 28

FRANKFURT, Oct 28 (Reuters) - The DAX top-30 index looked set to open 0.2 percent lower on Friday, according to premarket data from brokerage Lang & Schwarz at 0614 GMT.

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

BMW

Indicated 0.2 percent lower

BMW board member Oliver Zipse on Thursday said there is no need to decide yet whether the Brexit vote is a reason to shift manufacturing of its Mini brand away from Oxford to other locations in Europe.

The auto maker is also limiting its use of costly but lightweight carbon fibre and turning to cheaper lightweight materials for its biggest selling cars to keep profit margins high.

CONTINENTAL

Indicated 0.1 percent lower

The automotive supplier anticipates it may have to pay as much as 100 million euros in fines in a European anti-trust case, a German newspaper reported on Friday.

DEUTSCHE BOERSE

Indicated unchanged

The German exchange operator said its third-quarter adjusted operating profit rose by 8 percent to 286 million euros ($311.40 million) as its commodities and international clearing business made up for a weaker market environment.

The company also said it had sold about a third of its stake in BATS Global Markets Inc. for around $86 million.

LINDE

Indicated 1.5 percent higher

The world’s biggest maker of industrial gases by sales launched a new efficiency programme following the collapse last month of its merger talks with U.S. rival Praxair.

VOLKSWAGEN

Indicated 0.5 percent lower

Full Q3 results for premium unit Audi due. Audi on Wednesday lowered its guidance for profitability on mounting costs of the diesel emissions scandal and possible recalls of cars fitted with Takata Corp airbags.

GEA GROUP

Indicated unchanged

The food processing equipment maker published full quarterly results. Last week it slashed its profit guidance for this year, citing a delay in big orders from dairy farms that it had expected in the third quarter.

COMPUGROUP MEDICAL

Indicated 1.8 percent lower

The medical software company confirmed it was in early talks to buy Belgian graphics group Agfa-Gevaert.

NEMETSCHEK

Indicated 3 percent higher

The group reported full third-quarter results, with EBITDA up 25 percent at 21 million euros, broadly in line with consensus.

BRAAS MONIER

Indicated 1.6 percent higher

The company said it had changed its dividend policy and would in the future pay out 30 to 50 percent of annual adjusted free cash flow.

GRENKE

Unchanged in early Frankfurt trade

The group reported a 28 percent jumpe in 9-month operating profit to 103.3 million euros.

HEIDELBERGER DRUCK

Indicated 1.2 percent lower

The company has named Rainer Hundsdoerfer as new CEO.

WASHTEC

Indicated 0.4 percent lower

The company said it expected substantial growth in the first quarter of 2017, as it reported nine-month results.

OVERSEAS STOCK MARKETS

Dow Jones -0.2 pct, S&P 500 -0.3 pct, Nasdaq -0.7 pct at close.

Nikkei +0.7 pct, Shanghai stocks +0.1 pct.

Time: 6.19 GMT.

GERMAN ECONOMIC DATA

German preliminary October inflation figures due at 1200 GMT. CPI seen +0.1 pct m/m, +0.8 pct y/y. HICP seen +0.1 pct m/m, +0.6 pct y/y.

DIARIES

REUTERS TOP NEWS (Reporting by Harro ten Wolde and Maria Sheahan)

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