February 21, 2018 / 5:54 AM / in 4 months

German stocks - Factors to watch on February 21

BERLIN/FRANKFURT, Feb 21 (Reuters) - The following are some of the factors that may move German stocks on Wednesday:

DEUTSCHE BOERSE

Q4 press, analyst conferences due. Deutsche Boerse late on Tuesday posted a 26 percent rise in fourth-quarter net profit, and said it expects a 10 percent rise in 2018 profit despite missing its 2017 target amid weak markets.

VOLKSWAGEN

Volkswagen and labour union IG Metall reached a wage agreement for more than 120,000 workers in Germany in a fourth round of talks, the union said on Wednesday, adding it would provide details at a news conference at 0900 GMT.

Separately, Volkswagen wants to introduce a code of conduct for all employees as a result of revelations of diesel fume tests involving monkeys and humans and is also reviewing all the research it funds around the world, Bild newspaper reports. Volkswagen declines to comment.

Also, a Virginia state court judge on Tuesday rejected a request by the U.S. unit of Volkswagen to delay several of the company’s trials over excess emissions because of “inflammatory” comments made by a lawyer representing car owners that it fears will prejudice the jury.

Audi Chief Executive Rupert Stadler has rejected suggestions he is about to be ousted and believes he has the support of parent Volkswagen, Handelsblatt reports.

DEUTSCHE POST

German trade union Verdi threatened to raise the pressure on the postal and logistics group with warning strikes after wage talks failed to reach a breakthrough.

HOCHTIEF

Q4 results due. Net profit seen up 26 percent at 122 million euros. Poll:

MTU AERO ENGINES

Q4 results due. Adjusted EBIT seen up 37 percent at 150 million euros ($185 million). Poll:

MEDIGENE

The company said Germany’s Paul-Ehrlich-Institute and the relevant ethics committee had approved the study design of the first planned Phase I/II clinical trial with its T cell receptor-modified T cell therapy MDG1011, which it said should begin within the coming weeks.

SARTORIUS

The group published new medium-term targets, saying it expected its sales to rise to around 4 billion euros in 2025, with an underlying EBITDA margin of about 28 percent.

TELEFONICA DEUTSCHLAND

Telefonica Deutschland forecast on Wednesday that revenues would stabilise this year and core earnings would be flat to slightly positive, while pledging to raise dividends for the next three years.

ANNUAL GENERAL MEETINGS

BERTRANDT - 2.50 eur/shr dividend proposed

DEUTSCHE BETEILIGUNGS AG - 1.40 eur/shr dividend proposed

EX-DIVIDEND

OSRAM - dividend 1.11 eur/shr

ANALYSTS’ VIEWS

AURUBIS - Credit Suisse cuts to “underperform” from “neutral”, lowers target price to 62 euros from 72.16 euros

FRAPORT - HSBC cuts to “reduce” from “hold”

ZALANDO - RBC raises to “sector perform” from “underperform”, lifts target price to 46 euros from 41 euros

OVERSEAS STOCK MARKETS

Dow Jones -1 pct, S&P 500 -0.6 pct, Nasdaq -0.1 pct at close.

Nikkei +0.2 pct, Chinese markets closed.

Time: 6.39 GMT.

GERMAN ECONOMIC DATA

German February flash PMI due at 0830 GMT. Manufacturing PMI seen at 60.6 points vs 61.1, services PMI at 57.0 vs 57.3, composite PMI at 58.5 vs 59.0.

DIARIES

REUTERS TOP NEWS ($1 = 0.8094 euros) (Reporting by Emma Thomasson and Maria Sheahan)

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