September 2, 2019 / 4:57 AM / 2 months ago

German stocks - Factors to watch on September 2

BERLIN/FRANKFURT, Sept 2 (Reuters) - The following are some of the factors that may move German stocks on Monday:

REGIONAL STATE ELECTIONS

Chancellor Angela Merkel’s conservatives and her Social Democrat (SPD) coalition partners held off a surge in far right support in two state elections in eastern Germany on Sunday, averting an immediate crisis for the ruling alliance.

VOLKSWAGEN

Lawyers for owners of 98,000 VW U.S. vehicles that had fuel economy labels which overstated efficiency will ask a U.S. judge for $26 million in attorney’s fees and costs, court documents show.

AIRBUS

The company on Friday pulled out of a multibillion-dollar competition to supply Canada with 88 new fighter jets.

TLG Immobilien, AROUNDTOWN

German real estate firm TLG Immobilien said on Sunday it is evaluating a potential merger with rival Aroundtown after buying a nearly 10% stake in the company for about 1.02 billion euros.

HOCHTIEF

Hochtief’s Cimic unit said it won a $323 million contract related for the construction of Western Sidney Airport.

EX-DIVIDEND

SCOUT24 - 0.64 euros/shr

OVERSEAS STOCK MARKETS

Dow Jones +0.2%, S&P 500 +0.1%, Nasdaq -0.1% at close.

Nikkei -0.3%, Shanghai stocks +1.1%.

Time: 4:56 GMT

GERMAN ECONOMIC DATA

August Markit PMI for the manufacturing sector due at 0755 GMT. Seen flat at 43.6 points.

DIARIES

REUTERS TOP NEWS (Reporting by Berlin Speed Desk and Frankfurt Newsroom)

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