August 26, 2019 / 4:50 AM / 4 months ago

German stocks - Factors to watch on August 26

BERLIN/FRANKFURT, Aug 26 (Reuters) - The following are some of the factors that may move German stocks on Monday:

DEUTSCHE BANK

UBS and Deutsche Bank held talks about combining their businesses earlier this year, including discussions in mid-June about an investment banking alliance, the Wall Street Journal reported.

Separately, the lender is reviewing its presence in the German city of Bonn, where its Postbank unit is headquartered, Sueddeutsche Zeitung reported without citing sources.

LUFTHANSA

German union UFO denied a report in German magazine Der Spiegel which said UFO had threatened to take industrial action at the airline Condor.

VONOVIA DEUTSCHE WOHNEN

Berlin’s city government plans to cap rents at 7.97 euros per square metre per month as part of a rent freeze agreed earlier this year, Tagesspiegel reported, citing a draft law.

Vonovia affirmed its 2019 guidance but said for 2020 it may see a one-off rental income reduction for its Berlin portfolio of about 20 million to 25 million euros.

VOSSLOH

The group has negotiated a sale of its locomotives unit and is about to sign a deal, Chief Financial Officer Oliver Schuster told Boersen-Zeitung, adding the sale would likely result in an additional book loss.

OVERSEAS STOCK MARKETS

Dow Jones -2.4%, S&P 500 -2.6%, Nasdaq -3% at close.

Nikkei -2.1%, Shanghai stocks -1%.

Time: 4:49 GMT

ECONOMY

* Ifo August German business climate due at 0800 GMT. Seen at 95.1, current conditions seen at 98.6, expectations at 91.5

* U.S. President Donald Trump wishes he had raised tariffs on Chinese goods even higher last week, the White House said, even as Trump signalled he did not plan to follow through with a demand that U.S. firms find ways to close operations in China.

* Germany’s economy has weakened but it is too early for major economic stimulus from the government or the ECB, Bundesbank President Jens Weidmann told FAS newspaper.

DIARIES

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

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