April 25, 2018 / 4:53 AM / 3 months ago

German stocks - Factors to watch on April 25

FRANKFURT, April 25 (Reuters) - The following are some of the factors that may move German stocks on Wednesday:

ADIDAS

Adidas named Zion Armstrong as President of Adidas North America as of July 1, replacing Mark King, who has decided to step down from his post.

DAIMLER

Daimler’s boss said on Wednesday there was no indication the firm’s largest shareholder, Chinese auto magnate Li Shufu, was planning a hostile takeover, after he took a $9 billion stake in the firm earlier this year.

DEUTSCHE BOERSE

The stock exchange operator said late on Tuesday that its supervisory board will likely name three new executive board members at its meeting on Wednesday and enlarge the executive board to six seats from five.

Q1 results due after market close. Adjusted EBIT seen up 13 percent at 390 million euros ($477 million). Poll:

LINDE

Q1 results due. Net profit seen down 5 percent at 328 million euros. Poll:

VOLKSWAGEN

VW’s luxury unit Audi said on Tuesday that it was recalling 1.16 million vehicles worldwide because of concerns that an electric coolant pump could overheat or short-circuit from moisture within the pump and pose a fire risk.

Audi separately said it aims to double its China production with local partner FAW within five years, the firm’s chief executive said on Wednesday, as global carmakers look to localise in the world’s largest vehicle market.

Volkswagen plans to launch 27 electric vehicle models in less than three years, Thomas Ulbrich, in charge of electromobility at the VW brand, told Handelsblatt.

AIRBUS

Germany and France have agreed on the central requirements for a new fighter jet to replace Eurofighter Typhoon and Rafale warplanes beginning in 2040, German military sources said.

Also, the German defence ministry has received bids from Airbus and the U.S. government - representing Lockheed Martin and Boeing - for the replacement of its fleet of 90 ageing Tornado fighter jets that were developed in the 1960s.

OSRAM

The lighting group stepped up cutbacks and slashed its guidance for adjusted core profit and earnings per share in fiscal 2018, citing a weak dollar and slower business development.

AUMANN

Annual report due. The group published preliminary figures on Feb. 22 and has forecast a rise in adjusted EBIT to 28 to 31 million euros in 2018.

SILTRONIC

Q1 results due.

TELEFONICA DEUTSCHLAND

Q1 results due. OIBDA before exceptional items seen up 1.5 percent at 407 million euros. Poll:

HAMBORNER REIT

Q1 results due.

KLOECKNER

Q1 results due. EBITDA seen down 23 percent at 58.7 million euros. Poll:

SGL

The carbon materials specialist said late on Tuesday high positive one-time effects and good operational development prompted it to predict a low double digit million euro amount for 2018 net income from continuing operations, where it had previously seen slightly more than zero.

ANNUAL GENERAL MEETINGS

BEIERSDORF - 0.70 eur/shr dividend proposed

MUNICH RE - 8.60 eur/shr dividend proposed

GERRESHEIMER - 1.10 eur/shr dividend proposed

EX-DIVIDEND

DEUTSCHE POST - 1.15 eur/shr dividend

INNOGY - 1.60 eur/shr dividend

ANALYSTS’ VIEWS

VOLKSWAGEN - Jefferies raises to “buy” from “hold”, raises price target to 220 euros from 180 euros

HANNOVER RE - Credit Suisse cuts to “neutral” from “outperform”, raises price target to 122 euros from 120 euros

SIEMENS HEALTHINEERS - Morgan Stanley starts with “equal-weight” rating, price target 34 euros

OVERSEAS STOCK MARKETS

Dow Jones -1.7 pct, S&P 500 -1.3 pct, Nasdaq -1.7 pct at close.

Nikkei -0.4 pct, Shanghai stocks -0.3 pct.

Time: 4.53 GMT.

GERMAN ECONOMIC DATA

No economic data scheduled.

The German government has lowered its economic growth forecast for this year, a source familiar with the decision said on Tuesday, reflecting expectations that an upswing in Europe’s largest economy was losing some momentum.

DIARIES

REUTERS TOP NEWS ($1 = 0.8185 euros) (Reporting by Ludwig Burger and Maria Sheahan)

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