German stocks - Factors to watch on July 25

FRANKFURT, July 25 Thu Jul 25, 2013 2:23am EDT

FRANKFURT, July 25 (Reuters) - The DAX top-30 index looked set to open 0.4 percent lower on Thursday, according to premarket data from brokerage Lang & Schwarz at 0615 GMT.

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

BASF

Indicated 2.7 percent lower

Shrinking European markets and slower growth in China weighed on BASF's second-quarter profit and prompted the world's largest chemicals company by sales to call its 2013 profit target into question.

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COMMERZBANK

Indicated 2.2 percent lower

Commerzbank has taken an unspecified impairment charge in its financial results on lending to the U.S. city of Detroit, it said on Wednesday, but declined to say when it booked the writedown.

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DEUTSCHE TELEKOM

Indicated 0.6 percent lower

Orange said on Thursday that a planned initial public offering of EE, owned by Orange and Deutsche Telekom, would not take place before next year to allow the operator more time to show financial improvements.

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E.ON

Indicated 0.3 percent lower

A spokesman for the group said it could be an option to dismantle its mothballed gas-fired plant in Malzenice, Slovakia, and relocate it to regions where it could return to profit, adding no concrete decision had been taken on the matter.

The comment followed a report in the Wall Street Journal that E.ON could relocate mothballed plants to emerging markets like Turkey.

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VOLKSWAGEN

Indicated 0.6 percent lower

Volkswagen's luxury division Audi will hit its sales target of 1.5 million cars in 2013, two years earlier than planned, its Chief Executive Rupert Stadler said in an interview in Handelsblatt.

In an interview with WSJ.de, Stadler said Audi saw a "positive" development in its July sales and the company was "anything but dissatisfied" with new orders in July.

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GILDEMEISTER

Indicated 0.1 percent lower

The maker of cutting machine tools posted a bigger-than-expected 21 percent gain in second-quarter earnings before interest and tax (EBIT) and affirmed its 2013 outlook.

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KRONES

Indicated 2.1 percent higher

The bottling machine maker raised its profit outlook after reporting second-quarter results, saying it now expected to post a 2013 pretax profit margin of 5.8-6.0 percent.

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WINCOR NIXDORF

Indicated 1.1 percent higher

The maker of automated teller machines raised its full-year outlook, saying it now sees sales up 5 percent, with earnings before interest, tax and amortisation (EBITA) of 130 million euros, including restructuring costs.

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AIXTRON

Indicated 3.3 percent higher

The chip equipment maker said while there were signs of easing overcapacity in the market for LED chip-making equipment, there had been no pickup yet in demand for new equipment, as it reported a smaller than expected quarterly loss.

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SOFTWARE AG

Indicated 2.4 percent lower

The software company warned that its 2013 results could come in at the low end of its outlook range after a drop in second-quarter earnings.

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GRENKELEASING

Indicated 0.3 percent higher

The leasing specialist reported a smaller-than-expected 6 percent gain in second-quarter net profit and said it expects its full-year profit to improve to 44-48 million euros.

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VOSSLOH

Indicated 0.4 percent higher

The rail technology group slumped to a 5.7 million euro net loss from a year-earlier profit of 10.4 million after it took additional provisions to cover a claim for damages. It already issued a warning on full-year profits earlier this week.

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IVG IMMOBILIEN

Indicated 2.6 percent lower

Highly indebted German property company IVG Immobilien is not ruling out seeking protection from creditors to buy time to restructure the business, its chief executive said on Wednesday.

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ANNUAL GENERAL MEETINGS

GESCO - 2.50 eur/shr dividend proposed

OVERSEAS STOCK MARKETS

Dow Jones down 0.2 pct, S&P 500 down 0.4 pct, Nasdaq up 0.01 pct at Wednesday's close.

Nikkei down 1.1 pct at Thursday's close.

ANALYSTS' VIEWS

COMMERZBANK - UBS starts the stock with a "neutral" rating and price target of 6.90 euros.

DAIMLER - UBS removes the stock from its "key call list".

GAGFAH - Traders say Goldman Sachs raises the stock to "buy" from "neutral".

MTU AERO ENGINES - Traders say JP Morgan cuts the stock to "neutral" from "overweight". Separately, Societe Generale cuts its price target on the stock to 77 euros from 84 euros, with a "buy" rating.

TALANX - Berenberg raises its recommendation on the stock to "buy" from "hold".

GERMAN ECONOMIC DATA

German Ifo index for July due at 0800 GMT. Business climate index seen at 106.1, current conditions at 109.7 and expectations at 102.5.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS ($1 = 0.7565 euros) (Reporting by Marilyn Gerlach, Victoria Bryan and Maria Sheahan)

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