November 7, 2016 / 6:00 AM / a year ago

German stocks - Factors to watch on November 7

FRANKFURT/BERLIN, Nov 7 (Reuters) - The following are some of the factors that may move German stocks on Monday:

BAYER

Bayer may soon issue a mandatory convertible bond to help finance its $66 billion acquisition of Monsanto, German daily Handelsblatt reported, citing financial sources.

DEUTSCHE BANK

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

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 on Sunday.

E.ON

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 labour sources.

VOLKSWAGEN

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 savings.

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.

MORPHOSYS

Q3 results due.

XING

Q3 results due.

PATRIZIA IMMOBILIEN

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.

VTG

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

DIARIES

REUTERS TOP NEWS (Reporting by Tina Bellon, Maria Sheahan and Victoria Bryan)

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