November 8, 2016 / 5:50 AM / 4 years ago

German stocks - Factors to watch on November 8

FRANKFURT, Nov 8 (Reuters) - The DAX top-30 index looked set to open 0.1 percent lower on Tuesday, according to premarket data from brokerage Lang & Schwarz at 0710 GMT.

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

DEUTSCHE BANK

Indicated 0.4 percent higher

The European Banking Authority has told the European parliament in a letter that the regulator was not responsible for exceptions granted to Deutsche Bank during bank stress tests earlier this year, Handelsblatt reported, citing the letter. EBA Chairman Andrea Enria said in the letter that the European Central Bank and national regulators authorised the exceptions, according to Handelsblatt.

DEUTSCHE POST

Indicated 0.7 percent higher

The postal and logistics group said it would continue to invest in its European parcel delivery network after strong demand for deliveries of goods to shoppers buying online helped drive third-quarter results.

HENKEL

Indicated 1.3 percent higher

The consumer goods group posted consensus-beating third quarter results, boosted by growing demand in emerging markets and particularly strong sales in Asia.

RWE

Indicated 0.1 percent lower

The utility’s CEO Martin Schmitz told Handelsblatt the company was working on an “equity story” to be presented in spring. RWE might expand within Europe but financial means were limited, he was quoted as saying.

VOLKSWAGEN

Indicated 0.3 percent higher

Illinois filed a lawsuit against Volkswagen for tampering with vehicle emissions controls in its Volkswagen and Audi diesel engine cars, becoming the 19th U.S. state to take legal action against the German automaker.

Separately, former Chief Executive Martin Winterkorn is to appear at a regional court in Paderborn on Dec. 2 to testify about the emissions scandal in a damages suit brought by an owner of a VW vehicle, according to Sueddeutsche Zeitung.

ALSTRIA OFFICE

Indicated 0.8 percent higher

The real estate group confirmed its 2016 guidance and said nine-months funds from operations after minorities rose 14.5 percent to 87.0 million euros.

JUNGHEINRICH

Indicated 2 percent higher

The forklift truck maker affirmed its 2016 guidance as it reported a 2.5 percent rise in quarterly EBIT to 7.2 million euros.

RATIONAL

Indicated 0.5 percent lower

The group reported third-quarter EBIT of 42.7 million euros, below Reuters consensus for 44.9 million, and stuck with its guidance for the full year.

AIXTRON

Indicated 0.8 percent higher

Aixtron raised it guidance for 2016 order intake on higher demand for LED, telecom and optoelectronic applications in the third quarter.

DEUTZ

Indicated 0.4 percent lower

The group affirmed its guidance for 2016 as it reported a jump in nine-month earnings.

ELRINGKLINGER

Indicated 2 percent lower

The automotive supplier warned its underlying operating profit for 2016 would reach only the lower end of its target range, after its earnings fell in the third quarter.

PATRIZIA IMMOBILIEN

Indicated 1.1 percent higher

The real estate company increased its guidance for 2016 operating income to at least 265 million euros from at least 250 million previously after nine-months operating result more than doubled to 252.5 million.

ANALYSTS’ VIEWS

NORMA - HSBC raises to “buy” from “hold”

OVERSEAS STOCK MARKETS

Dow Jones +2.1 pct, S&P 500 +2.2 pct, Nasdaq +2.4 pct at close.

Nikkei unchanged, Shanghai stocks +0.5 pct.

Time: 7.10 GMT.

GERMAN ECONOMIC DATA

German industrial production fell more than expected in September, posting its steepest monthly drop in more than two years, data showed on Tuesday, suggesting Europe’s biggest economy ended the third quarter on a weak footing.

German September trade surplus 21.3 bln euros vs consensus for 23.0 bln.

DIARIES

REUTERS TOP NEWS (Reporting by Ludwig Burger and Maria Sheahan)

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