German stocks – Factors to watch on January 20

The DAX top-30 index looked set to open up 0.4 percent on Tuesday, according to premarket data from brokerage Lang & Schwarz at 0722 GMT. The following are some of the factors that may move German stocks:

GLOBAL ECONOMY
The International Monetary Fund lowered its forecast for global economic growth in 2015, and called on Tuesday for governments and central banks to pursue accommodative monetary policies and structural reforms to support growth.
Separately, Germany’s chancellor made a rare public intervention in the debate about money printing by the European Central Bank on Monday, warning it was no substitute for economic reforms in the euro zone.

SAP
Indicated down 2.4 percent
Europe’s largest software firm lowered its 2017 operating profit outlook as the push into the cloud will eat into its profit margins.

PATRIZIA IMMOBILIEN
Indicated up 1.3 percent
Patrizia Immobilien says it achieved its key targets in fiscal year 2014.

UTILITIES
E.ON indicated up 0.5 percent; RWE indicated up 0.6 percent
Economy Minister Sigmar Gabriel said he, like Chancellor Angela Merkel, opposes giving cash to money-losing coal- and gas-fired power stations, according to an interview with the newspaper Handelsblatt.

HENKEL
Indicated up 0.2 percent
The falling oil price will have positive effects that outweigh any negative effects for Henkel but it will take up to half a year for these to be seen in the company’s profits, Chief Executive Kasper Rorsted told the Frankfurter Allgemeine Zeitung.

KABEL DEUTSCHLAND
Indicated up 0.1 percent
The company said it would hold an extraordinary general meeting, likely on March 20, at the request of minority shareholder Elliott.

ALSTRIA OFFICE REIT
Indicated up 0.1 percent
The real estate firm said it signed a new lease for a property in Berlin, which will start on Dec. 1 and generate annual rental income of 590,000 euros.

FRESENIUS MEDICAL CARE
Indicated flat
The dialysis specialist said late on Monday that Standard & Poor’s had raised its credit rating to BBB- from BB+. It had earlier already raised parent Fresenius to BBB-.

HAWESKO
The German wine seller’s Chief Executive Alexander Margaritoff will step down and sell his 30 percent stake in the company to shareholder Detlev Meyer, clearing the way for Meyer’s hostile takeover offer.

Lotto24
Lotto24’s 2014 revenues jump to around 9 million euros from 2.8 million euros a year earlier.

Datagroup
Datagroup receives service contracts for over 36 million euros.

ANALYSTS’ VIEWS
LINDE – Barclays raises to “overweight” from “equal weight”, lifts target price to 177 euros from 165 euros.
LUFTHANSA – Barclays raises to “overweight” from “equal weight”, lifts target price to 18 euros from 12.80 euros.
HEIDELBERGCEMENT – UBS raises target price to 60 euros from 53 euros, rating “neutral”.
INFINEON – Socgen raises target price to 9.2 euros from 8.2 euros, rating “hold”.
FIELMANN – Berenberg cuts to “hold” from “buy”; raises target price to 60 euros from 53.50 euros.
KLOECKNER & CO – Berenberg reinitiates coverage with “hold”, target price 9 euros.
LANXESS – Barclays cuts target price to 37 euros from 45 euros; rating “underweight”.
KWS SAAT – Barclays raises target price to 293 euros from 282 euros; rating “equal weight”.
K&S – Barclays raises target price to 28 euros from 26 euros; rating “overweight”.
EVONIK – Barclays raises target price to 33 euros from 32 euros; rating “overweight”.
BASF – Barclays cuts target price to 87 euros from 91 euros; rating “overweight”.

OVERSEAS STOCK MARKETS
U.S. stock markets were closed on Monday for the Martin Luther King Day.
Nikkei +2.1 pct at Tuesday’s close.

GERMAN ECONOMIC DATA
German December producer prices fell 0.7 percent m/m vs Reuters poll -0.4 pct; fell 1.7 percent 7/7 vs Reuters poll -1.4 pct.
German ZEW index for January due at 1000 GMT. Economic Sentiment seen at 40.0 vs 34.9, Current Condition seen at 14.8 vs 10.0.

EUROPEAN FACTORS TO WATCH
DIARIES
REUTERS TOP NEWS (Reporting by Maria Sheahan and Georgina Prodhan)
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