February 1, 2019 / 6:11 AM / 17 days ago

German stocks - Factors to watch on Feb. 1

BERLIN, Feb 1 (Reuters) - The following are some of the factors that may move German stocks on Friday:

DEUTSCHE BANK

Deutsche Bank returned to profit in 2018, its first in four years, despite a loss in the fourth quarter, it said.

Additionally, time is running out for Deutsche Bank to turn around on its own, making a merger with rival Commerzbank more likely, two people with knowledge of the matter said.

DEUTSCHE BANK AND COMMERZBANK

ECB’s banking regulators have set conditions for a potential merger of Deutsche Bank and Commerzbank and said the merged company must be profitable, Sueddeutsche Zeitung newspaper reported, citing sources at the regulator.

ENERGY

Chancellor Angela Merkel signalled her readiness to implement costly proposals tabled by a government-appointed commission to facilitate the phasing out of coal-fired power, but key questions about money and priorities remain.

THYSSENKRUPP

Thyssenkrupp holds its annual general meeting, giving CEO Guido Kerkhoff an opportunity to convince shareholders of his move to split the conglomerate in two parts.

VOLKSWAGEN

Volkswagen’s Porsche unit said it had informed German authorities of potential issues with its emissions data, following a report in Der Spiegel magazine that the figures for its 911 models of 2016 and 2017 were inaccurate.

VONOVIA DEUTSCHE WOHNEN

Vonovia sold its Deutsche Wohnen stake to institutional investors at 41.50 euros a share in a deal worth almost 700 million euros ($800.45 million), one of the bookrunners said. Germany’s largest real estate company had announced it will use the proceeds to strengthen its balance sheet. JP Morgan acted as global coordinator.

BANKING

German savings banks have decided on a joint plan for the recapitalisation of public sector lender NordLB, pitting them against a joint bid by two private equity groups.

AIRBUS

Germany will choose between the Eurofighter and Boeing’s F/A-18 fighter jet to replace its ageing Tornado fighter jets, knocking Lockheed Martin’s F-35 out of a tender worth billions of euros, Defence Ministry sources said.

Separately, Emirates is exploring switching some orders for the Airbus A380 to the smaller A350 in a move raising new doubts about the future of Europe’s superjumbo, people familiar with the matter said.

SYMRISE

Germany’s Symrise said it was expanding its pet food business with the $900 million purchase of ADF/IDF, a pet food ingredient provider.

MORPHOSYS

Morphosys announced it had settled its patent lawsuit with Janssen Biotech and Genmab.

DWS

Q4 results due

ANNUAL GENERAL MEETINGS

THYSSENKRUPP AG - 0.15 eur/shr dividend proposed

ANALYSTS’ VIEWS

ADO PROPERTIES - Credit Suisse cuts to “neutral” from “outperform”

DAIMLER - Morgan Stanley raises to “overweight” from “equal-weight”

DEUTSCHE WOHNEN - Credit Suisse cuts to “neutral” from “outperform”

VONOVIA SE - Credit Suisse raises to “outperform” from “underperform”

OVERSEAS STOCK MARKETS

Dow Jones -0.1 pct, S&P 500 +0.9 pct, Nasdaq +1.4 pct at close.

Nikkei unchanged, Shanghai stocks +0.8 pct.

Time: 6:07 GMT.

GERMAN ECONOMIC DATA

German January Markit Manufacturing PMI due at 0855 GMT. Seen flat at 49.9 points

DIARIES

REUTERS TOP NEWS ($1 = 0.8745 euros) (Reporting by Berlin Speed Desk)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below