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CORRECTED-German stocks - Factors to watch on November 29
November 29, 2016 / 6:10 AM / a year ago

CORRECTED-German stocks - Factors to watch on November 29

(Corrects to show German October import prices were +0.9 pct m/m and -0.6 pct y/y, not +0.3 pct m/m and -0.1 pct y/y)

FRANKFURT/BERLIN, Nov 29 (Reuters) - The DAX top-30 index looked set to open unchanged on Tuesday, according to premarket data from brokerage Lang & Schwarz at 0712 GMT.

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

BMW, VOLKSWAGEN

BMW indicated 0.3 percent lower

Volkswagen indicated 0.2 percent lower

South Korea said on Tuesday it plans to disallow sales of two Nissan Motor, one BMW and three Porsche car models after finding errors in certification documents for the car makers’ imported models.

Separately, a regional court in Hamburg has ordered luxury-car brand Audi to buy back an owner’s Q3 sport-utility vehicle fitted with software designed to rig diesel emissions tests, Bild reported on Tuesday.

DAIMLER

Indicated 0.3 percent lower

The manufacturer plans to start building the Actros heavy truck in China by the end of the decade, Handelsblatt reported, citing the head of the truck division.

DEUTSCHE TELEKOM

Indicated 0.4 percent lower

Deutsche Telekom expects to be able to solve on Tuesday problems with its routers that led to internet outages for as many as 900,000 of its fixed-line customers over the weekend, it told RBB-Inforadio.

HEIDELBERGCEMENT

Indicated unchanged

The company has issued a eurobond with a volume of 1 billion euros ($1.1 billion).

LUFTHANSA

Indicated 2 percent lower

Pilots at Lufthansa hold an all-day strike, forcing the airline to cancel more than 800 flights.

A Munich court had on Monday rejected a request by Lufthansa to issue a temporary injunction to prevent the strike.

RWE

Indicated 0.5 percent lower

The utility will decide in the European spring whether to resume dividend payments, Chief Executive Rolf Martin Schmitz told WAZ. “Of course it is clear to us that we cannot scrap the dividend forever,” he said.

THYSSENKRUPP

Indicated 0.2 percent higher

Tata Steel and Thyssenkrupp are looking at reducing the size of Britain’s largest steel plant in Port Talbot, Wales, industry sources said, as the two firms press ahead with plans to merge their European steel operations and deal with the overcapacity afflicting the industry.

EVONIK

Unchanged in early Frankfurt trade

The company said it will acquire technology from Metabolic Explorer.

HOCHTIEF

Indicated 0.1 percent higher

Unit CIMIC said its HLG business had won a A$215 million ($160.8 million) project in Qatar.

STEINHOFF

Indicated 0.3 percent higher

Q1 results due.

BRAAS MONIER

Indicated 0.7 percent lower

The company announced plans to issue 3.9 million new shares to its shareholders in a ratio of one new share for every 10 shares they hold.

ANALYSTS’ VIEWS

CONTINENTAL - Jefferies starts with “buy” rating, target price 190 euros

HELLA - Jefferies starts with “hold”, target price 37 euros

SCHAEFFLER - Jefferies starts with “hold”, price target of 13.50 euros

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

OVERSEAS STOCK MARKETS

Dow Jones -0.3 pct, S&P 500 -0.5 pct, Nasdaq -0.6 pct at close.

Nikkei -0.3 pct, Shanghai stocks +0.2 pct.

Time: 7.18 GMT.

GERMAN ECONOMIC DATA

German October import prices +0.9 pct m/m, -0.6 pct y/y. Had been seen +0.7 pct m/m, -0.8 pct y/y.

Preliminary German November inflation data due at 1300 GMT. CPI and HICP both seen +0.1 pct m/m, +0.8 pct y/y.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS ($1 = 0.9430 euros) ($1 = 1.3373 Australian dollars) (Reporting by Maria Sheahan and Andreas Cremer)

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