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German stocks - Factors to watch on September 5
September 5, 2017 / 5:05 AM / 3 months ago

German stocks - Factors to watch on September 5

FRANKFURT, Sept 5 (Reuters) - The DAX top-30 index looked set to open 0.2 percent higher on Tuesday, according to premarket data from brokerage Lang & Schwarz at 0606 GMT.

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

NORTH KOREA

South Korea’s Asia Business Daily, citing an unidentified source, reported on Tuesday that North Korea had been spotted moving a rocket that appeared to be an intercontinental ballistic missile (ICBM) towards its west coast.

HURRICANE IRMA

Hurricane Irma, barreling toward the Caribbean and the southern United States, was upgraded to a powerful Category 4 storm on Monday as islands in its path braced for a possible onslaught.

COMMERZBANK, DEUTSCHE BANK

Commerzbank indicated unchanged

Deutsche Bank indicated unchanged

The chief executive of Commerzbank said consolidation was not a “cure-all”, when asked about a possible merger with Deutsche Bank in the future, saying it was possible to survive just with organic growth.

VOLKSWAGEN

Indicated 0.2 percent higher

The German carmaker has put the 1.5 billion-euro ($1.8 billion) sale of Ducati motorcycles on hold after resistance from German trade unions and internal rifts on strategy, sources familiar with the matter told Reuters.

LANXESS

Indicated 0.2 percent higher

Media Day due.

WIRECARD

Indicated 0.2 percent higher

The payment services provider said it Austria’s rail operator had signed on to use its digital voucher platform.

TLG IMMOBILIEN, WCM

TLG indicated 0.1 percent higher

Down 1.1 percent lower in early Frankfurt trade

Acceptance period for TLG’s takeover offer for WCM due to end at midnight.

ANALYSTS’ VIEWS

GERRESHEIMER - Deutsche Bank cuts to “hold” from “buy”, lowers target price to 62 euros from 82 euros

OVERSEAS STOCK MARKETS

US markets closed.

Nikkei -0.6 pct, Shanghai stocks +0.2 pct.

Time: 6.08 GMT.

GERMAN ECONOMIC DATA

German August Markit final PMI due at 0755 GMT. Services PMI seen flat at 53.4 points, compositive flat at 55.7 points.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Tom Sims and Maria Sheahan)

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