FRANKFURT/BERLIN Nov 7 The following are some
of the factors that may move German stocks on Monday:
Bayer may soon issue a mandatory convertible bond to help
finance its $66 billion acquisition of Monsanto, German
daily Handelsblatt reported, citing financial sources.
Moody's placed Deutsche Bank's Mexican subsidiaries on
review for downgrade after Deutsche agreed to sell them.
A federal judge on Friday said investors seeking to hold
banks - including Deutsche Bank - liable for helping underwrite
more than $7.7 billion of mortgage-backed securities from the
now-bankrupt subprime lender NovaStar Mortgage Inc may pursue
their claims as a group.
Deutsche Telekom plans to launch a drone defence system this
year designed to guard airports, stadiums, car test tracks and
critical infrastructure, German weekly Welt am Sonntag reported
The German utility has halved its renewable energy
investment pipeline to 5 gigawatts from 10 GW last year as
changing regulation makes the outlook for large projects less
certain, the head of E.ON's renewables unit told Reuters.
Separately, Rheinische Post reported that E.ON is planning
savings in the low triple-digit million euro range, citing
German prosecutors have widened a probe into suspected
market manipulation by managers at Volkswagen to include the
carmaker's supervisory board Chairman Hans Dieter Poetsch.
Separately, Bild am Sonntag reported that a U.S. regulator
found another software in some Audi vehicles that lowered their
carbon dioxide emissions if it detected they were being used
under test conditions.
Also, VW brand chief Herbert Diess said that Volkswagen
expects to be able to use its tweaked MQB modular platform for
the next two generations of cars, creating substantial cost
In a separate interview with RedaktionsNetzwerk Deutschland
he said talks with labour representatives over cost cuts were
"very constructive" and affirmed VW did not plan to fire any
workers to achieve a headcount reduction.
Q3 results due.
Q3 results due.
The real estate group will decide next year whether to start
paying a dividend, its finance chief Karim Bohn told Euro am
Sonntag. "In the past we have issued bonus shares. Our
shareholders did very well with that," he said.
The railcar rental group's Chief Executive Heiko Fischer
called for an end to subsidies for diesel fuel, saying they gave
road freight an unfair advantage over rail transportation.
OVERSEAS STOCK MARKETS
Dow Jones -0.2 pct, S&P 500 -0.2 pct, Nasdaq
-0.2 pct at close.
Nikkei +1.5 pct, Shanghai stocks +0.2 pct.
Time: 5.57 GMT.
GERMAN ECONOMIC DATA
German September industrial orders due at 0700 GMT. Seen
+0.3 pct m/m.
EUROPEAN FACTORS TO WATCH
REUTERS TOP NEWS
(Reporting by Tina Bellon, Maria Sheahan and Victoria Bryan)