August 24, 2017 / 5:14 AM / 2 months ago

German stocks - Factors to watch on August 24

FRANKFURT, Aug 24 (Reuters) - The DAX top-30 index looked set to open 0.1 percent higher on Thursday, according to premarket data from brokerage Lang & Schwarz at 0610 GMT.

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

DEUTSCHE BANK

Indicated 0.1 percent higher

Deutsche Bank has halved the price of its fixed-income and macro research as competition mounts in the run-up to Europe’s MiFID II regulations, Bloomberg reported, citing people with knowledge of the lender’s plans.

LUFTHANSA

Indicated 0.1 percent lower

The German flagship carrier said late on Wednesday it had submitted a term sheet detailing its interest in parts of insolvent Air Berlin, without providing details.

SIEMENS

Indicated 0.2 percent higher

Siemens is considering a major revamp of a historic Berlin factory that’s manufactured gas turbines for more than 100 years yet is now suffering a dearth of orders, Bloomberg reported, citing people familiar with the matter.

THYSSENKRUPP, SALZGITTER

Thyssenkrupp indicated 0.6 percent lower

Salzgitter indicated unchanged

Some politicians and labour bosses would like former RWE chief Juergen Grossmann to play a key role in setting up a new company bundling German steel businesses as an alternative to a merger of Tata Steel’s European steel operations with those of Thyssenkrupp, Handelsblatt reported, citing company sources.

The paper said that Salzgitter could also become part of the new business.

VOLKSWAGEN

Indicated 0.1 percent higher

The supervisory board of premium carmaker Audi will meet on Monday to decide on a management reshuffle that will see four of its seven executives leave, several people familiar with the matter told Reuters.

CTS EVENTIM

Indicated 0.2 percent higher

Q2 results due.

HOCHTIEF

Indicated unchanged

Australian unit Cimic said it had appointed Michael Wright as Deputy Chief Executive Officer.

LEG IMMOBILIEN

Down 0.2 percent in early Frankfurt trade

The company’s CFO said in a Reuters interview that recent purchases were positive for FFO per share and that the company would decide at the end of the third quarter about adjusting forecasts.

TELE COLUMBUS

Indicated 1.7 percent higher

The group reported a 7 percent rise in first-half core profit and affirmed its full-year guidance.

AIR BERLIN

Indicated 2 percent higher

A deal to carve up the insolvent airline likely won’t come before September as negotiations are very complex, administrator Frank Kebekus told WirtschaftsWoche magazine.

CONSTANTIN MEDIEN

Indicated 1.3 percent higher

The media company said on Wednesday that Paul Graf had been elected new chairman of a totally new supervisory board.

ANALYSTS’ VIEWS

COVESTRO - HSBC raises to “hold” from “reduce”, raises target price to 66 euros from 55 euros

OVERSEAS STOCK MARKETS

Dow Jones -0.4 pct, S&P 500 -0.3 pct, Nasdaq -0.3 pct at close.

Nikkei -0.4 pct, Shanghai stocks -0.3 pct.

Time: 6.14 GMT.

GERMAN ECONOMIC DATA

No economic data scheduled.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Tom Sims and Maria Sheahan)

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