April 29, 2014 / 4:35 AM / in 4 years

German stocks - Factors to watch on April 29

FRANKFURT, April 29 (Reuters) - The DAX top-30 index looked set to open 0.7 percent higher on Tuesday, according to premarket data from brokerage Lang & Schwarz at 0609 GMT.

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

DEUTSCHE BANK

Indicated 2.2 percent higher

Deutsche Bank’s pretax profit fell by nearly a third in the first quarter to 1.68 billion euros ($2.33 billion) as an industry-wide slump in bond trading revenue depressed results. Poll:

Separately, Germany’s biggest lender announced its first-ever Additional Tier 1 (AT1) bond sale late on Monday, a multi-currency benchmark deal intended to address concerns about its capital reserves.

In addition, Deutsche Bank’s global head of forex trading will leave in June, Germany’s biggest lender said on Monday, confirming a report in Handelsblatt newspaper.

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DEUTSCHE BOERSE

Indicated 1.0 percent higher

Deutsche Boerse posted a forecast-beating 72 percent rise in operating profit in the first quarter, thanks to a one-off gain and rising revenue, the German exchange operator said on Monday.

Quarterly earnings before interest and tax (EBIT) was 330 million euros ($456.87 million) compared with an average expectation of 261 million euros in a Reuters poll of banks and brokerages.

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INFINEON

Indicated 3.4 percent higher

The German chipmaker said on Tuesday it now expected sales and margins to reach at least the upper end of its target range for this year on robust demand from its customers in automotive and industrial markets. Poll:

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SIEMENS

Indicated 0.7 percent higher

Siemens is due to present its offer for a possible deal with French peer Alstom on Tuesday, according to a source familiar with the matter. A spokesman for Siemens in Munich did not confirm the information late Monday.

France said it would defend jobs and its national interest as it met suitors eyeing a breakup of engineering group Alstom on Monday and suggested it preferred Germany’s Siemens over U.S. giant General Electric.

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VOLKSWAGEN

Indicated 0.4 percent higher

Q1 results due. The carmaker is expected to report its quarterly operating group profit rose 17 percent to 2.74 billion euros.

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MTU AERO ENGINES

Indicated 1.2 percent higher

The company said its adjusted EBIT came in at 89 million euros, in line with the 88.3 million average forecast in a Reuters poll. Poll:

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SGL

Indicated 1.4 percent lower

The German carbon specialist on Tuesday said its first quarter net loss widened to 22.8 million euros, blaming prevailing headwinds in its main graphite electrodes business. Poll:

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AIXTRON

Indicated 0.4 percent higher

The company said the market for chip-making equipment was improving as it reported a first-quarter operating loss that was broadly in line with estimates. Poll:

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MORPHOSYS

Indicated 3.1 percent higher

The company affirmed its 2014 outlook after reporting a slump in first-quarter profit to 1.1 million euros from 7.9 million, with 6 million of the year-earlier figure coming from discontinued operations.

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STRATEC BIOMEDICAL

Indicated 0.3 percent lower

The company said its full-year net profit rose 24.3 percent to 15.5 million euros.

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WIRECARD

Indicated 4.8 percent higher

The payment systems provider reported a 25 percent rise in first quarter sales and said it expects 2014 EBITDA of between 160 and 175 million euros.

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TAKKT

Indicated 1.0 percent higher

The company proposed a dividend of 0.32 euros per share.

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ANNUAL GENERAL MEETINGS

BAYER - 2.10 eur/shr dividend proposed

LUFTHANSA - 0.45 eur/shr dividend proposed

DELTICOM - 0.50 eur/shr dividend proposed

ENBW - 0.69 eur/shr dividend proposed

OVERSEAS STOCK MARKETS

Dow Jones +0.5 pct, S&P 500 +0.3 pct, Nasdaq -0.03 pct at Monday’s close.

Nikkei -1 pct pct at Tuesday’s close.

GERMAN ECONOMIC DATA

German GfK consumer sentiment index holds steady at 8.5 going into May (forecast 8.5).

Also, preliminary German April inflation data due at 1200 GMT. CPI seen -0.1 pct m/m, +1.4 pct y/y, HICP seen -0.1 pct m/m, +1.3 pct y/y.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS ($1 = 0.7227 Euros) (Reporting by Kirsti Knolle, Maria Sheahan and Christoph Steitz)

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