May 7, 2014 / 4:50 AM / 4 years ago

German stocks - Factors to watch on May 7

FRANKFURT, May 7 (Reuters) - The DAX top-30 index looked set to open 0.5 percent lower on Wednesday, according to premarket data from brokerage Lang & Schwarz at 0625 GMT.

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


Indicated 0.5 percent lower

BMW said on Tuesday legal barriers prevented the German luxury auto maker from raising its stake in a Chinese joint venture company, even as rival Daimler appeared to have found a loophole to soften strict ownership rules.

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Indicated 0.4 percent lower

Commerzbank swept out assets from its internal “bad bank” at a faster pace in the first quarter, weighing on revenue but still allowing the bank to post a leap in net profit.

Separately, the bank has attracted five final bids for a multi-billion-euro portfolio of Spanish property loans, being sold as it takes advantage of a recovery in the country’s real estate market to help clean up its finances, sources said.

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Indicated 1.1 percent higher

The cement maker posted a more than five-fold increase in quarterly operating income that beat consensus thanks to mild winter weather in Europe and price increases in key markets.

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Indicated 1.6 percent higher

The consumer goods group on Wednesday posted better than expected first quarter core profit, helped by strong demand for washing powders and industrial adhesives in emerging markets.

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Indicated 0.4 percent lower

The engineering giant unveiled a long-awaited strategic overhaul in a bid to catch up with more profitable rivals, as it posted weaker-than-expected quarterly earnings on Wednesday, hit by charges in its energy business.

It also struck a deal to buy Rolls-Royce’s aero-derivative gas turbine and compressor business for roughly 950 million euros ($1.32 billion) and agreed to a joint venture with Japan’s Mitsubishi Heavy.

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Indicated 0.5 percent higher

The lender posted a first-quarter net profit of 190 million euros, slightly above consensus, and affirmed its outlook for 2014 net operating profit 370-390 million, including negative goodwill from the acquisition of Corealcredit.

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No indication available

The world’s largest chemicals distributor posted a 3.3 percent gain in first-quarter net income on Wednesday as an upswing in Europe and North America offset weaker business in emerging markets.

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Indicated 1.1 percent higher

The property firm raised its outlook following strong first-quarter results, saying it now saw funds from operations (FFO) per share reaching 0.84-0.86 euros in 2014 and 0.91-0.93 euros per share in 2015.

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Indicated 0.4 percent higher

The reinsurer’s net profit inched up 0.7 percent to 233 million euros in the first quarter, better than expected, helped by higher investment income.

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Indicated 0.5 percent higher

Q1 results. The German unit of Spanish construction company ACS is expected to report its first-quarter profit before taxes fell 13.8 percent to 106 million euros, the average of five estimates in a Reuters poll of banks and brokerages showed. Poll:

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No indication available

The fashion house saw double-digit growth for its womenswear business and strong sales in Europe in the first quarter as it confirmed its outlook for 2014.

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Indicated 0.6 percent higher

The company reported first-quarter operating profit that came in broadly in line with consensus and affirmed its 2014 outlook.

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No indication available

The company affirmed its 2014 outlook after posting a 15.2 percent increase in first-quarter adjusted earnings before interest, tax and amortisation (EBITA).

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Indicated 0.9 percent higher

The pay-TV provider saw subscriber numbers increase by 64,000 during the first-quarter, as fewer customers cancelled their subscriptions.

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Indicated 2.9 percent higher

The company affirmed its 2014 outlook for another year of good growth after its first-quarter net profit jumped 43 percent and said it saw its gross margin improving year-on-year in the second quarter.

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Indicated 3.4 percent lower

The medical safety technology company warned that it now saw its 2014 EBIT margin reaching only the lower end of its forecast range after currency swings hit its first-quarter profits and its orders dropped.

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Indicated 1.7 percent higher

The company reported first-quarter earnings per share of $0.22 and said it expects second-quarter earnings per share of $0.24-$0.25

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Indicated unchanged

Germany’s second largest airline said on Wednesday that passenger traffic, measured by the aggregate number of miles flown by its customers, rose 7.8 pct in April.

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Indicated 0.1 percent lower

The automotive interiors manufacturer reported first-quarter operating profit that was in line with estimates and affirmed an outlook for stable 2014 operating profit and revenues of more than 1.3 billion euros.

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RHEINMETALL - 0.40 eur/shr dividend

TAKKT - 0.32 eur/shr dividend

HAMBORNER REIT - 0.40 eur/shr dividend


ALLIANZ - proposed div of 5.30 eur/shr

HEIDELBERGCEMENT - proposed div of 0.60 eur/shr

FUCHS PETROLUB - proposed div of 1.38 eur/shr

HANNOVER RE - proposed div of 3 eur/shr

HOCHTIEF - proposed div of 1.50 eur/shr

BIOTEST - proposed div of 0.57 eur/shr

DEUTZ - proposed div of 0.07 eur/shr


DUERR - HSBC raises the stock to “overweight” from “neutral”


Dow Jones -0.8 pct, S&P 500 -0.9 pct, Nasdaq -1.4 pct at Tuesday’s close.

Nikkei -2.9 pct at Wednesday’s close.


German March industrial orders -2.8 pct m/m. Were seen up 0.3 pct in Reuters poll.



REUTERS TOP NEWS ($1 = 0.7177 Euros) (Reporting by Christoph Steitz and Harro Ten Wolde)

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