August 23, 2017 / 6:19 AM / a year ago

German stocks - Factors to watch on August 23

BERLIN/FRANKFURT, Aug 23 (Reuters) - The DAX top-30 index looked set to open 0.2 percent higher on Wednesday, according to premarket data from brokerage Lang & Schwarz at 0618 GMT.

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


Indicated 0.1 percent higher

Rival Inc posted a quarterly profit that beat analysts’ estimates as it invested heavily to fend off competition in the cloud-based software sector.


No indication available in Frankfurt

The company said it plans to list its Steinhoff Africa Retail Limited (STAR) unit on the main board of Johannesburg Stock Exchange (JSE).


Indicated 3.5 percent lower

The group launched a 277 million euro ($326 million) convertible bond due September 2022 and asked holders of a 310 million euro senior unsecured notes due August 2018 to offer such notes for purchases by TAG.


Indicated 1.8 percent higher

A committee of Air Berlin creditors, which will have to agree any sale, is due to meet for the first time on Wednesday.

Separately, Ryanair CEO Michael O’Leary told Reuters he would be interested in bidding for the whole of Air Berlin but needs access to more data on the airline’s finances.


E.ON - RBC raises to “outperform” from “sector perform”

INNOGY - RBC cuts to “underperform” from “sector perform”

UNIPER - RBC cuts to “sector perform” from “outperform”


Dow Jones +0.9 pct, S&P 500 +1.0 pct, Nasdaq +1.4 pct at close.

Nikkei +0.3 pct, Shanghai stocks +0.2 pct.

Time: 0618 GMT.


German August Markit flash PMI due at 0730 GMT. Composite PMI seen flat at 54.7. Manufacturing seen at 57.7. Services seen at 53.3.


REUTERS TOP NEWS ($1 = 0.8504 euros) (Reporting by Maria Sheahan and Christoph Steitz)

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