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German stocks - Factors to watch on September 7
September 7, 2017 / 6:52 AM / 3 months ago

German stocks - Factors to watch on September 7

FRANKFURT, Sept 7 (Reuters) - The DAX top-30 index looked set to open 0.6 percent lower on Thursday, according to premarket data from brokerage Lang & Schwarz at 0649 GMT.

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

ECB

European Central Bank President Mario Draghi is set to start laying the groundwork for stimulus reduction when policymakers meet on Thursday, giving investors some hints but probably holding off on any major commitment.

U.S. Federal Reserve Vice Chair Stanley Fischer said he will step down from his position in mid-October, potentially accelerating President Donald Trump’s opportunity to reshape the direction of the central bank.

VOLKSWAGEN

Indicated 1.1 pct higher

India’s Eicher Motors Ltd, maker of Royal Enfield classic motorbikes, is set to make a binding takeover bid for Italian motorcyle manufacturer Ducati for $1.8 billion-$2 billion, the Economic Times daily reported on Thursday.

The U.S. House unanimously approved a sweeping proposal to speed the deployment of self-driving cars without human controls by putting federal regulators in the driver’s seat and barring states from blocking autonomous vehicles.

CHEMICALS

Quarterly report due from German chemicals association VCI.

DEUTSCHE BOERSE

Indicated 0.2 pct higher

Deutsche Boerse Chief Executive Carsten Kengeter and other financial services executives are due to speak at the annual “Banken im Umbruch” conference in Frankfurt.

AAREAL BANK

Indicated 0.8 pct higher

The company said it has successfully placed a $625 million mortgage pfandbrief.

AIRBUS

No indication

United Airlines has ordered 10 extra Airbus A350 jetliners, ditching the largest model, the A350-1000, in favour of the smaller and more popular A350-900 whilst delaying deliveries to save cash, the companies said on Wednesday.

INNOGY

Indicated 2.1 percent higher.

Innogy shares up in pre market trading on a report in Spanish newspaper Expansion saying Iberdrola is interested in the German company.

EVOTEC

Indicated 2.9 percent higher

ABIVAX and Evotec unveiled a partnership to develop novel antiviral agents.

OVERSEAS STOCK MARKETS

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

Nikkei +0.2 pct, Shanghai stocks -0.6 pct.

Time: 0649 GMT.

GERMAN ECONOMIC DATA

German July industrial output remained flat in July.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Christoph Steitz and Edward Taylor)

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