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German stocks - Factors to watch on September 1
September 1, 2017 / 5:09 AM / 3 months ago

German stocks - Factors to watch on September 1

FRANKFURT, Sept 1 (Reuters) - The DAX top-30 index looked set to open 0.3 percent higher on Friday, according to premarket data from brokerage Lang & Schwarz at 0612 GMT.

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

EUROPEAN CENTRAL BANK

ECB is likely to leave policy unchanged at its next meeting and keep rates on hold through 2018, according to a Reuters poll; 46 of 66 economists say ECB likely to announce cutback to asset purchases in October.

BANKS, INSURERS

ALLIANZ indicated up 0.2 percent

COMMERZBANK indicated up 0.4 percent

DEUTSCHE BANK indicated up 0.2 percent

MUNICH RE indicated up 0.3 percent

Financial regulator Bafin plans to introduce concrete requirements for banks to manage IT and cybersecurity risks this year, Bafin President Felix Hufeld told Handelblatt, and to extend these requirements to insurers next year.

VOLKSWAGEN

Indicated up 1.7 percent

A U.S. judge in California on Thursday rejected a lawsuit by the state of Wyoming potentially seeking more than $1 billion in additional penalties for environment damages in the German automaker’s excess diesel emissions scandal.

VW brand chief Herbert Diess said in Chattanooga late on Thursday the company expects to boost its sport-utility vehicle sales sharply by 2020 and will move to add electric vehicle offerings in the wake of its diesel emissions cheating scandal.

HOCHTIEF

Indicated up 0.1 percent

Australian subsidiary Cimic was awarded an Indonesian mine contract worth A$300 million.

LEONI

Indicated up 0.6 percent

Shares in the German automotive wiring systems maker closed 4.4 percent lower on Thursday following a report in the Frankfurt Allgemeine Zeitung that said Leoni had underpaid software license fees totalling more than 20 million euros. Leoni wasn’t immediately available for comment.

STADA

Indicated down 0.8 percent

Private equity firms Bain and Cinven plan to nominate Claudio Albrecht as new chief executive of Stada and Mark Keatley as finance chief, they said on Friday.

MORPHOSYS

Indicated up 0.3 percent

Morphosys and Aptevo ended their partnership for development and commercialisation of treatment for metastatic castration resistant prostate cancer. Aptevo will regain worldwide rights.

ANALYSTS’ VIEWS

DEUTSCHE BOERSE - Morgan Stanley cuts to “equal weight” from “overweight”; Deutsche Bank resumes with “buy”

LUFTHANSA - Bernstein raises to “market perform”

MTU AERO ENGINES - HSBC raises to “buy” from “hold”

OVERSEAS STOCK MARKETS

Dow Jones +0.3 pct, S&P 500 +0.6 pct, Nasdaq +1.0 pct at close.

Nikkei +0.2 pct, Shanghai stocks +0.1 pct.

Time: 6.20 GMT.

GERMAN ECONOMIC DATA

German August Markit PMI due at 0755 GMT.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Tom Sims and Georgina Prodhan)

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