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German stocks - Factors to watch on September 6
September 6, 2017 / 5:18 AM / 2 months ago

German stocks - Factors to watch on September 6

FRANKFURT, Sept 6 (Reuters) - The DAX top-30 index looked set to open 0.4 percent lower on Wednesday, according to premarket data from brokerage Lang & Schwarz at 0643 GMT.

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

ALLIANZ

Indicated 0.2 percent lower

Chinese conglomerate HNA Group considered taking a stake in Allianz but was rebuffed by the management of the German insurance giant, the Sueddeutsche Zeitung daily reported on Wednesday.

COMMERZBANK, DEUTSCHE BANK

Commerzbank indicated 0.1 percent higer

Deutsche Bank indicated 0.1 percent lower

The chief executives of Commerzbank and Deutsche Bank as well as a number of other bank executives are due to speak at the annual “Banken im Umbruch” conference in Frankfurt.

Deutsche’s asset management unit wants to grow via acquisitions after its planned listing, its head Nicholas Moreau told Handelsblatt, adding that insurers and banks with medium-sized asset managers could offer opportunities.

THYSSENKRUPP

Indicated 0.5 percent lower

The supervisory board of Thyssenkrupp’s Steel Europe business is due to meet, according to media reports.

LANXESS

Indicated 0.2 percent higher

The chemicals maker continues its two-day capital markets event.

QIAGEN

Indicated 2.3 percent lower in early Frankfurt trading

The genetic testing specialist is launching $350 million in convertible notes.

CAPITAL STAGE

Capital Stage said it was launching an offering of around 100 million euros worth of subordinated bonds with limited conversion rights into shares in the company.

INDEX CHANGES AS OF SEPT. 18:

MDAX

IN: METRO, GRAND CITY PROPERTIES

OUT: BILFINGER, RATIONAL

SDAX

IN: BILFINGER, RATIONAL, AROUNDTOWN PROPERTY HOLDINGS , DELIVERY HERO

OUT: WCM BETEILIGUNGS- UND GRUNDBESITZ AG , AMADEUS FIRE AG , BAYWA AG

ANALYSTS’ VIEWS

ADIDAS AG - HSBC adds Adidas to “Europe super ten portfolio list”

DAIMLER - Goldman Sachs raises the stock to “buy” from “neutral”

OVERSEAS STOCK MARKETS

Dow Jones -1.1 pct, S&P 500 -0.8 pct, Nasdaq -0.9 pct at close.

Nikkei -0.2 pct, Shanghai stocks +0.1 pct.

Time: 5.18 GMT.

GERMAN ECONOMIC DATA

German industrial orders fell unexpectedly in July on weak domestic demand while bookings from abroad remained flat, data showed on Wednesday, suggesting that this sector of Europe’s largest economy could shift into a lower gear in coming months.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Emma Thomasson and Ludwig Burger)

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