December 10, 2019 / 5:56 AM / a month ago

German stocks - Factors to watch on December 10

BERLIN/FRANKFURT, Dec 10(Reuters) - The following are some of the factors that may move German stocks Tuesday:

ENGINEERING

Germany’s VDMA engineering association holds its annual news conference where it is also expected to give an updated industry outlook.

FINANCE

Germany’s finance minister has drawn up a draft law that envisages introducing a financial transaction tax in 10 European Union countries, the Sueddeutsche Zeitung reported on Monday.

BAYER

The company is due to give an update on its sustainability strategy on an investor call where it will likely face questions on glyphosate litigation in the United States.

DEUTSCHE BANK

Deutsche Bank plans to cut about 100 million euros in annual costs by streamlining its corporate structure in German retail banking, the Financial Times cited people familiar with the situation as saying.

Separately, an Australian criminal cartel lawsuit against Citigroup Inc and Deutsche Bank AG was postponed on Tuesday after defence lawyers complained the prosecution had given them a redacted statement for a key witness late on the previous day.

DEUTSCHE TELEKOM

Executives from Sprint Corp testified on Monday that the U.S. wireless carrier has struggled to improve its network, hindering its growth and underscoring the need to merge with larger rival, Deutsche Telekom unit T-Mobile US.

VOLKSWAGEN

The carmaker on Monday was charged with importing nearly 128,000 vehicles into Canada contravening the country’s environmental legislation, a Canadian government agency said.

SCOUT24

Australian platform carsales.com could submit a bid to take over the German classifieds company’s auto trading business, the Financial Times reported.

SIEMENS HEALTHINEERS

Company holds “meet the management” event in London.

ANALYSTS’ VIEWS

SIEMENS - Barclays initiates coverage with “equal weight” rating

OVERSEAS STOCK MARKETS

Dow Jones -0.4%, S&P 500 -0.3%, Nasdaq -0.4% at close.

Nikkei unchanged, Shanghai stocks -0.1%.

Time: 5:54 GMT

GERMAN ECONOMIC DATA

ZEW investor sentiment for December due at 1000 GMT. Headline index seen rising to 0.0 points from -2.1 in November.

DIARIES

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

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