August 1, 2018 / 4:56 AM / 3 months ago

German stocks - Factors to watch on August 1

FRANKFURT/BERLIN, Aug 1 (Reuters) - The following are some of the factors that may move German stocks on Wednesday:

THYSSENKRUPP

The engineering group shaken by activist investors cut its earnings forecast late on Tuesday, citing cost overruns and sluggish orders at its plant engineering and ship building division.

Activist investor Elliott wants Thyssenkrupp to give its business divisions more autonomy to pursue promising ventures, an Elliott executive told German daily Welt.

Markus Grolms of trade union IG Metall will lead the company’s non-executive board until a permanent successor is found for outgoing Chairman Ulrich Lehner.

INFINEON

Q3 results due. Operating profit seen down 1.5 percent at 333 million euros. Poll:

SIEMENS

Supervisory board due to discuss new strategy to be presented with quarterly results on Thursday.

VOLKSWAGEN

Q2 results due. EBIT seen up 10 percent at 4.98 billion euros. Poll:

HOCHTIEF

Australian subsidiary Cimic wins $310 million in contracts in South Africa.

NORMA

Full Q2 results due. The group published preliminary figures and warned on profit on July 26, citing rising raw material prices, force majeure for important plastic components and rising trade barriers.

OSRAM

Full Q3 results due. The group issued a profit warning in late June, citing uncertainty among its automotive clients and delays to some projects.

DIALOG SEMICONDUCTOR

Dialog Semiconductor said on Tuesday it has ended discussions with Synaptics Inc about a potential acquisition of the U.S. touch-pad technology company, without citing a reason.

MORPHOSYS

Q2 results due after market close.

QIAGEN

The genetic testing specialist reported a gain in adjusted net income of 12 percent to $77.2 million in the second quarter and confirmed its full-year guidance.

KOENIG & BAUER

Q2 results due. Operating profit seen up 32 percent at 12.3 million euros. Poll:

VOSSLOH

Q2 results due. EBIT seen down 7 percent at 18.2 million euros. Poll:

OVERSEAS STOCK MARKETS

Dow Jones +0.4 pct, S&P 500 +0.5 pct, Nasdaq +0.6 pct at close.

Nikkei +0.9 pct, Shanghai stocks -0.3 pct.

Time: 4.53 GMT.

GERMAN ECONOMIC DATA

German July Markit Manufacturing PMI due at 0755 GMT. Seen flat at 57.3.

DIARIES

REUTERS TOP NEWS (Reporting by Ludwig Burger and Maria Sheahan)

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