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German stocks - Factors to watch on September 8
September 8, 2017 / 5:13 AM / 17 days ago

German stocks - Factors to watch on September 8

FRANKFURT, Sept 8 (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 0625 GMT.

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

BAYER

Indicated up 0.1 pct

Monsanto Co, which is being taken over by Bayer, pushed Arkansas on Thursday to allow farmers to spray crops with the company’s dicamba herbicide, linked to damage on plants across the U.S. farm belt.

CARMAKERS

BMG indicated up 0.4 pct

DAIMLER indicated unchanged

VOLKSWAGEN indicated up 0.2 pct

Passenger vehicle sales in China to retail customers rose 5.8 percent in August from a year earlier, the China Passenger Car Association said on Friday.

PROSIEBENSAT.1

Indicated up 0.1 pct

The group agreed with broadcaster Central European Media Enterprises (CME) to add eastern European TV stations to its European Media Alliance, Handelsblatt reported, citing ProSieben’s digital business chief Christof Wahl.

VOLKSWAGEN

Indicated up 0.2 pct

Volkswagen is actively working on deals to sell non-core assets accounting for as much as 20 percent of the German carmaker’s annual revenues, The Wall Street Journal quoted its chief executive as saying on Thursday.

Former Volkswagen engineer James Liang plans to appeal a 40-month prison sentence for his role in Volkswagen’s multiyear scheme to sell diesel cars that generated more pollution than U.S. clean air rules allowed, according to a court filing on Thursday.

RATIONAL

Indicated unchanged

The group expects its North American business to grow by 15-20 pct this year, twice as fast as the group as a whole, its finance chief told investor newsletter Platow Brief.

SUEDZUCKER

Indicated unchanged

Suedzucker plans to further increase its cultivation area in Germany by a single-digit percentage in 2018, production chief Thomas Kirchberg told daily Heilbronner Stimme. He also said the company expected a harvest of 88 to 92 tonnes per hectare.

ADVA OPTICAL NETWORKING

Indicated up 0.1 pct

U.S. peer Finisar disappointed the market with its guidance, sending its shares down more than 6 percent.

MEDIGENE

Down 4.3 percent on the Frankfurt exchange

The group said it would issue 182,335 new shares to settle the third and final milestone payment related to its acquisition of Trianta in 2014.

SGL

Indicated down 0.6 pct

Moody’s changed its outlook on SGL’s debt to positive and affirmed its Caa1 rating.

ANALYSTS’ VIEWS

LANXESS - Helvea Baader Bank raises to “buy” from “hold”, lifts price target to 75 euros from 74 euros.

DRILLISCH - Commerzbank resumes with “buy” vs “hold”

UNITED INTERNET - Commerzbank resumes with “buy”

LEONI - UBS starts with “sell”

OVERSEAS STOCK MARKETS

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

Nikkei -0.6 pct, Shanghai stocks -0.2 pct.

Time: 6.31 GMT.

GERMAN ECONOMIC DATA

German July trade3 balance 19.5 bln euros vs Reuters poll for 20.3 bln euros and 21.2 bln in previous period. Exports +0.2 pct and imports +2.2 pct m/m, seasonally adjusted.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Maria Sheahan and Georgina Prodhan)

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