German stocks – Factors to watch on November 10 – Reuters

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The DAX top-30 index
looked set to open 0.2 percent higher on Tuesday, according to
premarket data from brokerage Lang & Schwarz at 0747 GMT.

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

ADIDAS

Indicated down 0.1 percent

Egyptian tycoon Nassef Sawiris, who controls 6 percent of
the voting rights in Adidas, says he wants a constructive
relationship with the German sportswear company. Sawiris, whose
NNS Holding fund has a 1.7 percent direct stake in Adidas, has
also accumulated an additional 4.3 percent of the company’s
voting rights due to “put” options he has bought that should
allow him to acquire further shares.

ALLIANZ

Indicated up 0.2 percent

Pacific Investment Management Co on Monday said co-founder
Bill Gross’ lawsuit should be thrown out. The lawsuit accuses
Pimco of driving him out last year so its remaining executives
could divide his bonus among themselves.

E.ON

Indicated down 2.0 percent

Utility E.ON will report a record net loss of about 5
billion euros ($5.4 billion) for the first nine months of the
year, a source familiar with the situation told Reuters,
confirming a report in German business daily Handelsblatt.

LUFTHANSA

Indicated up 0.4 percent

The airline said 136 flights would be cancelled due to a
cabin crew strike on Tuesday, after a union rejected a sweetened
pay offer late on Monday that was aimed at ending the airline’s
longest ever strike action which it said was costing it at least
10 million euros a day. The Tuesday strikes will
affect around 27.300 passengers.

October traffic figures due at 1200 GMT.

VOLKSWAGEN

Indicated up 0.3 percent

The carmaker’s top executives and labour leaders will
jointly develop cost-cutting plans and spending targets in
coming days, closing ranks as the carmaker faces
multi-billion-euro costs from emissions scandals.

In a separate statement, VW said that the head of corporate
communications, Andreas Lampersbach, will leave the group on
Nov. 15 and will be succeeded in an acting capacity by Eric
Felber.

Bild Zeitung reported that around 540,000 VW diesel cars
would have to have hardware adjustments, not just software,
citing the Transport Ministry.

AAREAL BANK

Indicated up 3.4 percent

Aareal Bank raised its operating profit forecast for the
full year on Tuesday, after posting third-quarter results ahead
of analysts’ expectations.

AIRBUS

No indication available

The aerospace and defence group gave its strongest signal
yet on Monday that it plans to build a new A350 jet to compete
with Boeing’s 777X, setting the scene for the next round
of a mini-jumbo contest between the world’s largest
planemakers.

DEUTSCHE WOHNEN

Indicated up 1.3 percent

The property group, which is fighting a hostile takeover bid
from larger local rival Vonovia, posted a 38 percent
increase in its operating profit (FFO I) in the first nine
months, helped by higher rents and strong earnings from
disposals.

EVONIK

No indication available

CVC Capital Partners sold 8.8 million Evonik shares at 32.55
euros per share in a placement late on Monday.

HOCHTIEF

Indicated up 0.2 percent

Australian unit CIMIC said it intended to make an A$0.75
cash per share offer for the 49.4 percent of shares it does not
already own in residential developer Devine. Devine
said its independent directors would consider the offer and the
board recommended shareholders take no action.

JUNGHEINRICH

Indicated up 1.9 percent

Nine-month EBIT rose 13 percent to 151 million euros.

LEONI

Indicated up 0.6 percent

Automotive cable maker posts third-quarter EBIT of 30
million euros.

SYMRISE

Indicated up 0.7 percent

German scent and flavours maker Symrise said its
core profit rose 30 percent in the first nine months of the year
as it outpaced the market with sales growth of 29 percent.

DIALOG SEMICONDUCTOR

Indicated up 1.3 percent

Activist hedge fund Elliott disclosed a 2.9 percent stake in
the German chipmaker on Monday and said that it intends to vote
against the acquisition of U.S. peer Atmel.

EVOTEC

Indicated up 2.4 percent

Nine-month adjusted EBITDA rose to 3 million euros.

TELEFONICA DEUTSCHLAND

No indication available

Dutch telecoms group KPN said late on Monday that
it would sell a 5 percent stake in Telefonica Deutschland to
institutional investors overnight.

HAMBORNER REIT

Indicated up 2.3 percent

Hamborner raised its full-year forecast.

TOM TAILOR

Indicated up 1.0 percent

The fashion group initiated a cost reduction programme which
aims at saving at least 10 million euros annually from
2018.

PORSCHE SE

Indicated up 1.1 percent

Q3 results due at 0900 GMT.

ANALYSTS’ VIEWS

WACKER CHEMIE – Exane BNP Paribas starts with
“neutral”

SCOUT 24 – Goldman Sachs starts with “neutral”; JP
Morgan starts with “neutral”; Credit Suisse starts with
“outperform”; Barclays starts with “equal weight”; Jefferies
starts with “buy”

NORDEX – Deutsche Bank cuts to “hold” from “buy”

OVERSEAS STOCK MARKETS

Dow Jones -1 pct, S&P 500 -1 pct, Nasdaq
-1 pct at close.

Nikkei +0.2 pct, Shanghai stocks -0.1 pct.

GERMAN ECONOMIC DATA

No economic data scheduled.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS

(Reporting by Kirsti Knolle and Georgina Prodhan)