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German stocks - Factors to watch on May 15
May 15, 2014 / 4:45 AM / 4 years ago

German stocks - Factors to watch on May 15

FRANKFURT, May 15 (Reuters) - The DAX top-30 index looked set to open 0.1 percent lower on Thursday, according to premarket data from brokerage Lang & Schwarz at 0625 GMT.

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

DEUTSCHE POST

Indicated 2 pct lower

The world’s largest postal and logistics company unveiled a lower-than-expected increase in first-quarter operating profit, with higher deliveries in its international express courier business failing to offset negative impact from weak currencies in emerging markets.

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E.ON

Indicated 0.3 pct lower

The utility said late Wednesday a resolution passed by the Datteln city council had reestablished a “firm planning basis” for the new Datteln 4 hard coal power generating unit .

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MERCK KGAA

Indicated 1.5 pct higher

The world’s largest maker of liquid crystals for display screens, said quarterly underlying core earnings edged 0.7 percent higher as the benefits of a cost cutting initiative outweighed the impact of weaker foreign currency exchange rates.

Merck intends to form a joint venture with three other parties to strengthen its business with anti-allergic remedies and has notified its plans to the German Federal Cartel Office according to the regulator’s website.

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SIEMENS

Indicated 0.3 pct lower

The French government has issued a decree allowing it to block any foreign takeovers of French companies in “strategic” industries, throwing up a potential roadblock to General Electric’s planned $16.9 billion bid for Alstom’s energy assets. Siemens is also interested in the assets.

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AIRBUS

No indication available

New export restrictions reportedly being considered by Germany’s ruling centre-left Social Democrats (SPD) could cause lasting damage to the German defence industry, the head of the Airbus Defence and Space division, Berhard Gerwert, said on Wednesday.

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DEUTSCHE EUROSHOP

Indicated unchanged

The company late Wednesday reported a 19 pct rise in Q1 EBIT and said it was standing by its targets for the year.

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LEG IMMOBILIEN

No indication available

The property firm reported a 21 percent increase in first-quarter funds from operations, excluding disposal gains, to 41 million euros, slightly above consensus for 39.5 million.

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METRO

Indicated 0.2 pct higher

Minority owner and founder of Media-Saturn Erich Kellerhals wants to buy back the electronics chain with the help of investors, he told the German newspaper Sueddeutsche Zeitung.

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SALZGITTER

Indicated 0.2 pct lower

The steelmaker reported its first-quarter net loss narrowed as restructuring at the group helped offset the effects of overcapacity on Europe’s steel market.

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SUEDZUCKER

Indicated 0.8 pct lower

The sugar maker is due to hold a press conference on its fiscal year through Feb. 28. It said on April 8 that operating profit in the year dropped by almost a third to 658 million euros.

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TALANX

No indication available

The insurer’s net profit fell 7 percent as expected in the first quarter, hit by slightly lower premiums compared with a year-earlier quarter that also saw a strong capital gain.

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SMA SOLAR

Indicated 0.3 pct higher

Germany’s largest solar company posted weaker-than-expected quarterly results as cheaper Asian rivals and a further decline in solar power subsidies in its core market Germany continued to gnaw away at its profits.

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WIRECARD

Indicated 1.5 pct higher

The payment systems provider confirmed a forecast for EBITDA of between 160-175 million euros in the 2014 fiscal year as it reported Q1 EBITDA up 33 percent.

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AIR BERLIN

Indicated 1.2 pct higher

Germany’s second largest airline said it needed to change and was working on developing a sustainable business model as it reported a slightly narrower first-quarter loss in line with expectations late Wednesday.

On Thursday it said it expected an increase in passenger numbers and revenue for 2014.

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DELTICOM

Indicated 0.4 pct lower

The online tyre retailer posted first quarter revenue of 94.3 million euros and earnings before interest, tax, depreciation and amortisation (EBITDA) of 2.4 million euros.

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GFK

Indicated 0.3 pct lower

The market researcher stuck with a 2014 outlook for organic growth of 1-2 percent and an adjusted operating profit margin of 12-12.5 percent as it banks on currency effects that hit its first-quarter growth to ease over the course of the year.

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HAWESKO

Indicated xx pct xx

Q1 results due from the wine retailer. Q1 EBIT seen up 5.7 percent to 3.7 million euros. Poll

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MLP

Indicated 0.5 pct lower

The company affirmed its 2014 outlook for EBIT of about 65 million euros after posting a 10 percent increase in first-quarter EBIT to 4.4 million.

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SAF Holland

Indicated 3.6 pct higher

The commercial vehicles supplier reported a forecast-beating 24 percent rise in first quarter profit thanks to good demand for trailers in Europe.

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SIXT

Indicated 2.1 pct higher

The car hire company reported a Q1 pretax profit of 26.6 million euros and confirmed its outlook for the year.

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SURTECO

Indicated 1.5 percent higher

The maker of decorative surface materials affirmed an outlook for 2014 sales to rise to 630-640 million euros from 404 million in 2013 thanks to its acquisition of Sueddekor, after its first-quarter sales jumped 62 percent to 160.1 million.

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ANNUAL GENERAL MEETINGS

BMW - 2.60 eur/shr dividend proposed

DEUTSCHE BOERSE - 2.10 eur/shr dividend proposed

DEUTSCHE TELEKOM - 0.50 eur/shr dividend proposed

FRESENIUS MEDICAL CARE - 0.77 eur/shr dividend proposed

MAN SE - 3.07 eur/shr dividend proposed

WACKER CHEMIE - 0.50 eur/shr dividend proposed

COMDIRECT BANK - 0.36 eur/shr dividend proposed

JUNGHEINRICH - 0.86 eur/pref shr, 0.80 eur/nominal shr dividend proposed

EX-DIVIDEND

SYMRISE - 0.70 eur/shr

OVERSEAS STOCK MARKETS

Dow Jones -0.6 pct, S&P 500 -0.5 pct, Nasdaq -0.7 pct at Wednesday’s close.

Nikkei -0.75 pct at Thursday’s close.

GERMAN ECONOMIC DATA

Q1 German economic growth due at 0600 GMT, seen at +2.2 pct year-on-year.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Ludwig Burger, Victoria Bryan and Kirsti Knolle)

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