October 29, 2019 / 6:09 AM / a month ago

German stocks - Factors to watch on October 29

BERLIN/FRANKFURT, Oct 29 (Reuters) - The following are some of the factors that may move German stocks on Tuesday:

BEIERSDORF

9M sales due.

DEUTSCHE BOERSE

German exchange operator Deutsche Boerse on Monday posted a 10% rise in third-quarter net profit thanks to increased trading in derivatives markets as well as power and gas markets and the company confirmed its targets for the full year.

FRESENIUS

The company said it confirmed its outlook as the group grew by 5% organically in the third quarter.

FRESENIUS MEDICAL CARE

The dialysis company confirmed its outlook after the third quarter.

MERCK KGAA

EU authorities have approved Merck’s Avelumab drug for a treatment of advanced renal cancer.

VOLKSWAGEN

Volkswagen is ramping up production of electric cars to around 1 million vehicles by end of 2022, according to manufacturing plans seen by Reuters, enabling the German carmaker to leapfrog Tesla Inc and making China the key battleground.

COMMERZBANK

The German lender posted a preliminary 35% rise in third-quarter net profit on Monday as reduced costs and higher revenue helped it exceed expectations, although performance at its corporate client unit remained weak.

SYMRISE

9M results due.

VARTA

Q3 results due.

PORSCHE

Israeli automotive technology startup Tactile Mobility said on Tuesday it secured $9 million in funding from Porsche, Union Tech Ventures and previous investors.

Morphosys

The German drugmaker on Monday said it stopped the clinical development program of MOR106 in Atopic dermatitis for efficacy reasons.

ANALYSTS’ VIEWS

GEA GROUP AG: CFRA raises to “sell” from “strong sell”

OVERSEAS STOCK MARKETS

Dow Jones +0.5%, S&P 500 +0.6%, Nasdaq +1.0% at close.

Nikkei +0.5%, Shanghai stocks -0.6%.

Time: 6:08 GMT

GERMAN ECONOMIC DATA

No major economic data scheduled.

DIARIES

REUTERS TOP NEWS ($1 = 0.9017 euros) (Reporting by Berlin Speed Desk and Frankfurt Newsroom)

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