September 7, 2015 / 5:18 AM / 2 years ago

German stocks - Factors to watch on September 7

FRANKFURT, Sept 7 (Reuters) - The DAX top-30 index looked set to open 1 percent higher on Monday, according to premarket data from brokerage Lang & Schwarz at 0634 GMT.

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

CONTINENTAL

Indicated 1.3 pct higher

The German auto components maker and union representatives have postponed further talks on cost reductions and job cuts at a factory in Gifhorn, after failing to reach an agreement on Friday.

BASF

Indicated 1.1 pct higher

An asset swap announced between BASF and Gazprom could signal an easing of tensions between Germany and Russia, the head of BASF unit Wintershall, Mario Mehren, told Handelsblatt newspaper on Monday. Deal:

DAIMLER

Indicated 1 pct higher

Financial markets have overreacted to recent economic ructions in China, Daimler CEO Dieter Zetsche said in a newspaper interview.

FRESENIUS

Indicated 1.8 pct higher

The dividend for 2015 is set to rise by clearly more than 20 percent, following an expected currency adjusted rise of 18-21 percent in earnings, CEO Ulf Schneider repeated in comments to Euro am Sonntag newspaper.

K+S

Indicated 3 pct higher

Potash Corp of Saskatchewan has hired a third investment bank as adviser in its effort to take over K+S, newspaper Frankfurter Allgemeine Zeitung reported on Sunday.

MUNICH RE

Indicated 0.6 pct higher

The reinsurer's Ergo insurance division will discontinue writing new life insurance products with guaranteed interest rates at the end of this year, an Ergo board member Clemens Muth told Sueddeutsche Zeitung.

THYSSENKRUPP

Indicated 2.2 pct higher

ThyssenKrupp has cut costs by more than 1 billion euros this year, beating its target, and plans to press ahead with renewed savings efforts, its chief financial officer told a German newspaper.

VOLKSWAGEN

Indicated 1.4 pct higher

Ousted Volkswagen chairman Ferdinand Piech prevented Chief Executive Martin Winterkorn from fulfilling his ambition to become chairman, showing the patriarch's continuing influence behind the scenes, two respected German publications reported.

Volkswagen's management reshuffle may fail to generate the momentum Europe's largest carmaker needs to tackle stubborn structural problems that have been amplified by slumping sales in China, according to industry experts.

Separately, VW's Porsche unit is expected to have around 25,000 employees at the end of this year or 11 percent more than in 2014, Porsche HR head Thomas Edig told Automobilwoche. More jobs would be added in the coming years, but not at a double-digit percentage rate, he said.

AXEL SPRINGER

Indicated 0.7 pct higher

Axel Springer is withdrawing from its Russian business, Russian news agency RBC reported at the weekend, citing two media sources and a government source.

BRAAS MONIER

Indicated 0.1 pct lower

The company has identified a mid-double digit number of potential takeover targets in coverall all regions and product areas, CEO Pepyn Dinandt told Welt am Sonntag newspaper.

SGL

Indicated 1.6 pct higher

The carbon specialist has difficulties obtaining Boeing's approval for the planned sale of aircraft components unit HITCO to Avcorp Industries, German investor newsletter Platow Brief cited sources close to the company as saying.

IPO

Germany's biggest digital classifieds group Scout24 has revived last year's listing plans and aims to debut on the stock market this year, it said on Monday.

ANALYSTS' VIEWS

SIEMENS : Credit Suisse starts with "neutral", target price 91 euros

RATIONAL : DZ Bank cuts to "hold" from "buy"

OVERSEAS STOCK MARKETS

Dow Jones -1.7 pct, S&P 500 -1.5 pct, Nasdaq -1.1 pct at Friday's close.

Nikkei closes +0.4 pct, Shanghai stocks -2.34 pct.

Time: 6.46 GMT.

GERMAN ECONOMIC DATA

Industrial output rose in July at its fastest pace so far this year, data from the Economy Ministry showed on Monday, suggesting Europe's largest economy powered ahead at the beginning of the third quater.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Christoph Steitz, Georgina Prodhan, Jonathan Gould and Ludwig Burger)

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