May 8, 2014 / 4:50 AM / in 4 years

German stocks - Factors to watch on May 8

FRANKFURT, May 8 (Reuters) - The DAX top-30 index looked set to open 0.2 percent higher on Thursday, according to premarket data from brokerage Lang & Schwarz at 0622 GMT.

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

BASF

Indicated 0.2 percent higher

Norwegian fertiliser firm Yara and German chemicals group BASF decided to build their joint ammonia plant at BASF’s existing site in Freeport, Texas, Yara said in a statement on Thursday.

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BEIERSDORF

Indicated 0.3 percent higher

Nivea skin cream maker Beiersdorf posted first-quarter earnings before interest and tax (EBIT) of 235 million euros ($327 million), surpassing analysts’ expectations of 224 million euros.

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DEUTSCHE TELEKOM

Indicated 0.2 percent higher

Deutsche Telekom reported a 3.9 percent drop in first-quarter core profit as it spent money to grow its U.S. business T-Mobile US.

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LANXESS

Indicated 2.3 percent lower

The synthetic rubber specialist said late on Wednesday it was selling new shares equivalent to 10 percent of its equity to fund restructuring measures. Lanxess also said it could seek a strategic partner for its rubber division.

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MUNICH RE

Indicated 0.3 percent lower

The reinsurer reported a 4.6 percent drop in net profit in the first quarter, as premium income fell amid a broad-based market decline in reinsurance prices.

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BILFINGER

Indicated 1.3 percent higher

Bilfinger on Wednesday said it plans to sell a significant part of its construction business, the latest effort to wean itself off a business model vulnerable to price wars in the building sector.

Separately, Bilfinger published a 56 percent drop in first-quarter earnings before interest, tax and amortization (EBITA), missing estimates.

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ELRINGKLINGER

Indicated 3.5 percent higher

The automotive supplier affirmed its 2014 outlook for adjusted EBIT to reach 160-165 million euros after reporting a 28.4 percent rise in first-quarter EBIT.

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FRAPORT

Indicated 0.2 percent higher

The operator of Frankfurt airport maintained its forecast for passenger numbers at Europe’s third largest airport on Thursday, despite the possibility of more strikes in 2014.

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KLOECKNER

Indicated 3.9 percent higher

The steel distributor reported a quarterly net profit, putting it on track to pay its shareholders their first dividend in four years.

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METRO

Indicated 0.1 percent higher

The German retailer cut its outlook on Thursday for its consumer electronics division after a disappointing first three months of the year as the unit struggled with competition from online rivals and a leadership crisis.

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PROSIEBENSAT.1

No indication available

The German media group affirmed its outlook after reporting a bigger than expected 9.5 percent gain in first-quarter recurring EBITDA.

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RHEINMETALL

Indicated 0.6 percent higher

The defence group reported first-quarter sales of 1.08 billion euros and that it broke even before interest and tax, compared with a Reuters poll average of 1.041 billion in sales and an EBIT loss of 1 million. Its 2014 outlook remains unchanged.

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RTL

No indication available

Europe’s biggest broadcaster, said on Thursday its advertising markets continued to show signs of recovery as it reported a 6.3 percent drop in first-quarter operating profit.

Bertelsmann, which owns a stake in RTL, is also due to present Q1 results.

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STADA ARZNEIMITTEL

Indicated 1.2 percent higher

The generic drugmaker, which makes about 20 percent of its sales in Russia, shrugged off a worsening crisis between Russia and Ukraine to report rising sales and flat net profit in the first quarter.

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TAG IMMOBILIEN

Indicated 0.1 percent higher

The property group said it would propose a dividend of 0.35 euros per share for 2014 and 0.50 euros per share for 2015 as it posted first-quarter financial results.

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COMPUGROUP MEDICAL

Indicated 0.1 percent lower

The medical software company affirmed its 2014 outlook for EBITDA of 100-110 million euros after its first-quarter EBITDA eased to 22 million euros from 25.5 million on the integration of newly acquired companies and efforts to cut costs.

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TELEFONICA DEUTSCHLAND

No indication available

The telecoms group reported a bigger-than-expected decline in first-quarter operating income before depreciation and amortisation (OIBDA) to 234 million euros, partly due to investments.

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KION

No Indication available

The forklift truck maker affirmed its full-year outlook after reporting an expected decline in quarterly operating profit.

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PATRIZIA IMMOBILIEN

Indicated 0.4 percent higher

The group affirmed its 2014 outlook for an operating profit of at least 50 million euros after its first-quarter operating profit more than doubled to 16 million euros.

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TIPP24

Indicated 0.1 percent higher

The lottery company affirmed its outlook for a 2014 EBIT of 25-35 million euros after posting a slump in first-quarter EBIT to 1.3 million euros from 12 million, having spent heavily on marketing and hiring new staff.

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TOM TAILOR

Indicated 0.6 percent higher

The clothing company affirmed its 2014 outlook for sales of 950 million euros and a recurring EBITDA margin of around 10 percent as it reported a 12.1 percent increase in first-quarter recurring EBITDA to 11.1 million euros.

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ANNUAL GENERAL MEETINGS

BILFINGER - 3.0 eur/shr dividend proposed

LEONI - 1.0 eur/shr dividend proposed

COMMERZBANK - no dividend proposed

ADIDAS - 1.5 eur/shr dividend proposed

MTU AERO ENGINES - 1.35 eur/shr dividend proposed

TALANX - 1.2 eur/shr dividend proposed

TRADING EX-DIVIDEND:

ALLIANZ - dividend 5.30 eur/shr

HEIDELBERGCEMENT - dividend 0.60 eur/shr

FUCHS PETROLUB - dividend 1.40 eur/shr

HANNOVER RE - dividend 3 eur/shr

HOCHTIEF - dividend 1.50 eur/shr

BIOTEST - dividend 0.57 eur/shr

DEUTZ - dividend 0.07 eur/shr

ANALYSTS’ VIEWS

TAG IMMOBILIEN - Citigroup starts the stock with a “neutral” rating and a price target of 10 euros.

DIALOG SEMICONDUCTOR - Credit Suisse raises the stock to “neutral” to “underperform” and lifts its price target to 18.50 euros from 13.50 euros.

LEG IMMOBILIEN - Citigroup starts the stock with a “neutral” rating and a price target of 52.50 euros.

GAGFAH - Citigroup starts the stock with a “buy” rating and a price target of 14.10 euros.

OVERSEAS STOCK MARKETS

Dow Jones +0.7 pct, S&P 500 +0.6 pct, Nasdaq -0.3 pct at Wednesday’s close.

Nikkei +0.9 pct at Thursday’s close.

IPO

Europe’s largest online fashion retailer, Zalando, has picked banks to organise a possible stock market listing in the third quarter, potentially Europe’s biggest technology offering since 2000, people familiar with the plans said.

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GERMAN ECONOMIC DATA

German industrial output fell more than forecast in March as construction and manufacturing did worse than in the previous month but the Economy Ministry said on Thursday the outlook for the sector remained bright.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS ($1 = 0.7183 Euros) (Reporting by Edward Taylor, Ludwig Burger, Maria Sheahan)

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