February 8, 2019 / 5:51 AM / 6 months ago

German stocks - Factors to watch on Feb. 8

BERLIN, Feb 8 (Reuters) - The following are some of the factors that may move German stocks on Friday:

DEUTSCHE BANK

Finance Minister Olaf Scholz insisted that Germany needed a home-grown banking champion to accompany German companies on global markets, the Financial Times reported. It added Scholz declined to talk about a possible merger of Deutsche Bank and Commerzbank.

Additionally, The U.S. House Financial Services Committee is hiring a Senate lawyer with deep experience conducting complex investigations to help run its upcoming Deutsche Bank probe into money laundering allegations and the lender’s ties to President Donald Trump, Bloomberg reported.​​

NORD STREAM 2

Republican and Democratic U.S. senators unveiled a resolution calling for the cancellation of Russia’s Nord Stream 2 natural gas pipeline, a link under the Baltic Sea from Russia to Germany.

AIRBUS

Airbus reported the cancellation of orders worth $4 billion, dominated by 8 A380 aircraft, highlighting an increasingly bleak picture for the world’s largest airliner.

SYMRISE

The flavours and fragrances group said it aimed to raise up to 400 million euros by offering new shares and use the proceeds for partially refinancing a bridge loan used for several acquisitions.

CECONOMY

Fiscal Q1 results due. Adjusted EBIT seen down 4 percent. Poll:

LEONI

The automotive cable supplier said it made a loss of 19 million euros in the fourth quarter and would propose to suspend its dividend for 2018.

DIC ASSET

Annual report due.

ANALYSTS’ VIEWS

GEA GROUP - CFRA cuts to “strong sell” from “sell”

OVERSEAS STOCK MARKETS

Dow Jones -0.9 pct, S&P 500 -0.9 pct, Nasdaq -1.2 pct at close.

Nikkei -2 pct, Chinese markets closed.

Time: 5:49 GMT.

ECONOMY

* German December trade balance due at 0700 GMT. Seen at +18.4 bln euros, with both exports and imports +0.2 pct m/m.

* The euro zone’s economic slowdown may be longer and deeper than earlier thought but it is not clear that the currency bloc has entered a lasting downturn, European Central Bank board member Benoit Coeure was quoted as saying.

* German Finance Minister Olaf Scholz rejected fears that the country is heading for a serious economic downturn, the Financial Times reported.

DIARIES

REUTERS TOP NEWS (Reporting by Berlin Speed Desk)

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