August 7, 2014 / 4:46 AM / in 3 years

German stocks - Factors to watch on August 7

FRANKFURT, Aug 7 (Reuters) - The DAX top-30 index looked set to open unchanged on Thursday, according to premarket data from brokerage Lang & Schwarz at 0621 GMT.

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

ADIDAS

Indicated unchanged

The world’s second-biggest sportswear firm, cut its margin targets for 2014 on Thursday, a week after it issued a profit warning, blaming poor performance at its golf business and volatile emerging market currencies.

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BEIERSDORF

Indicated 1.1 percent lower

Nivea skin cream maker Beiersdorf posted a 4.3 percent increase in its first half operating profit, in line with expectations.

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COMMERZBANK

Indicated 3.1 percent higher

Germany’s second biggest lender said it is speeding up the clean up of non-core assets as it posted an increase in second-quarter earnings.

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DEUTSCHE BANK

Indicated 0.3 percent higher

The lender joined talks with Argentina’s holdout creditors to seek an agreement that would allow the country to resume paying its bonds, Bloomberg reported on Wednesday, citing a person briefed on the meetings.

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DEUTSCHE TELEKOM

Indicated 0.4 percent higher

The group reported a bigger than expected quarterly core profit as a rise in earnings in the United States offset heavy investments in its German networks.

Separately, Dish Network Corp Chairman Charlie Ergen said it makes sense for the satellite operator to consider making a bid for T-Mobile US Inc now that Sprint is out of the picture.

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MUNICH RE

Indicated 1.8 percent lower

A surge in investment income helped reinsurer Munich Re post a 45 percent increase in net profit to 765 million euros in the second quarter though the gain fell short of analysts’ expectations.

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VOLKSWAGEN

Indicated 0.1 percent lower

VW‘S sportscar maker Porsche AG aims to improve its productivity by 6 percent a year and is looking to workers to make concessions to achieve this, its finance chief has signalled, according to the text of an interview to be published in Handelsblatt newspaper.

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BRENNTAG

Down 4.4 percent in early Frankfurt trade

The world’s largest chemicals distributor posted a 17 percent gain in second-quarter net income on Thursday as demand in Europe and North America recovered.

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ELRINGKLINGER

Indicated 0.4 percent lower

The automotive supplier affirmed its outlook for 2014 EBIT of 160-165 million euros after posting a 1.2 percent gain in second-quarter EBIT.

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FRAPORT

Indicated 1.1 percent higher

The airport operator confirmed its outlook for profit and passenger numbers at its main Frankfurt airport, but said the Russia crisis has led to uncertainty over its investement in St. Petersburg.

Separately, Slovenia’s state investment firm SDH, which is in charge of selling state assets, said on Wednesday it would start exclusive talks over Ljubljana airport with Fraport.

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GAGFAH

Indicated unchanged

The real estate company is confident it will generate sufficient free liquidity from 2015 onward to allow it to pay a dividend of 3-4 percent of net asset value, its chief executive told Boerse Online in an interview.

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KABEL DEUTSCHLAND

Indicated 0.2 percent higher

The cable company reported full first-quarter results, saying its net profit rose to 47 million euros from 29 million euros.

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KLOECKNER & CO

Indicated 4.6 percent higher

The steel distributor expects cost cuts and expansion in the United States to help it boost its operating profit by as much as 40 percent this year.

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RHEINMETALL

Indicated 4.7 percent lower

The defence group slashed its 2014 operating profit aim after the German government withdrew its approval for a contract with Russia and the group shifted some of its automotive business to a joint venture.

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SGL GROUP

Indicated 0.2 percent lower

The carbon specialist affirmed its 2014 outlook after posting a surprise underlying profit and said it expected to surpass its intial 2015 cost cutting goal.

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STADA

Indicated 0.6 percent lower

German generic drugmaker Stada Arzneimittel AG said net income stagnated in the first half as gains from the takeover of British consumer care company Thornton & Ross were offset by lower sales in Russia and Germany.

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SYMRISE

Indicated 0.2 percent higher

The flavours and fragrance maker said core earnings rose 7.5 percent in the first half of the year, helped by strong growth in emerging markets, particularly Latin America.

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TAG IMMOBILIEN

Indicated 0.2 percent higher

The group confirmed its 2014 outlook after posting first half funds from operations (FFO) of 41.7 million euros.

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CANCOM

Indicated 0.4 percent lower

Final Q2 results due. The group already reported second quarter adjusted earnings before interest, tax and amortisation (EBITA) of 8.2 million euros on sales of 189.3 million euros on July 30.

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COMPUGROUP MEDICAL

Indicated 0.4 percent higher

The medical software company confirmed its ourlook for 2014 as its reported Q2 EBITDA of 23.3 million euros.

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SMA SOLAR

Indicated 0.1 percent lower

Germany’s biggest solar group by sales posted its seventh consecutive quarterly operating loss, hit by low-cost rivals in China and a collapse in key European markets that already led it to cut its full-year outlook last week.

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BAYWA

Indicated 0.1 percent lower

The group said, after reporting second-quarter results, that growth of its operating business appeared achievable if markets developed positively in the second half of the year.

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DEUTZ

Indicated 0.5 percent higher

The diesel engine maker confirmed its 2014 outlook after posting second-quarter results.

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SAF HOLLAND

Indicated 0.8 percent higher

The commercial vehicles supplier’s said it is aiming for 2014 adjusted EBIT of approx. 70 million euros as it reported a 22.5 percent rise in profit for the first half.

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TIPP24

Indicated 12.3 percent lower

The lottery company slashed its 2014 operating profit outlook, saying it now saw EBIT at 15-20 million euros, citing weak first-half results and delays in the ramp-up of new business.

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ANALYSTS’ VIEWS

HANNOVER RE - DZ Bank raises the stock to “buy” from “hold”.

OSRAM - Barclays raises to “overweight” from “underweight”.

XING - Berenberg raises the stock to ”buy“ from hold”.

OVERSEAS STOCK MARKETS

Dow Jones +0.08 pct, S&P 500 +0.03 pct, Nasdaq +0.05 pct at Wednesday’s close.

Nikkei +0.5 pct at Thursday’s close.

GERMAN ECONOMIC DATA

German industrial output rose just 0.3 percent on the month in June, missing a forecast for a rise of 1.3 percent, as concerns over the crisis in Ukraine weighed, the Economy Ministry said, adding to mounting signs of a disappointing second quarter.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (1 US dollar = 0.7484 euro) (Reporting by Maria Sheahan, Kirsti Knolle and Victoria Bryan)

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