January 11, 2019 / 5:57 AM / 4 months ago

German stocks - Factors to watch on Jan. 11

BERLIN, Jan 11 (Reuters) - The following are some of the factors that may move German stocks on Friday:

SIEMENS

Industrial groups Siemens and Alstom are discussing additional divestment with the European Commission to win approval for their plan to create a joint Franco-German rail champion, sources told Reuters.

THYSSENKRUPP

Thyssenkrupp faces risks ranging from economic uncertainty to cartel fines in 2019, potentially complicating a planned spin-off of the German company’s capital goods business which has so far left some investors unconvinced.

DEUTSCHE BANK

The lender is offshoring about 60 accounting positions to Mumbai from its campus in Jacksonville, Florida as it seeks to trim costs, Bloomberg reported.

VOLKSWAGEN

Volkswagen is seeking damages from former managers, who were dismissed for their roles in the diesel emissions scandal that has cost the German automaker as much as $30 billion, Handelsblatt reported.

CAR EMISSIONS

Germany’s biggest auto supplier Robert Bosch will pay around $131 million to settle claims from Fiat Chrysler U.S. diesel owners and resolve all investigations by 47 U.S. state attorneys general into its involvement with diesel vehicles.

NORD STREAM 2

U.S. sanctions against the Russian-backed Nord Stream 2 pipeline would be the wrong way to solve a dispute over energy supply, German Foreign Minister Heiko Maas said.

KUKA

The robotics firm, owned by China’s Midea, cut its guidance for fiscal 2018, citing a slowdown in the automotive and electronic industries, uncertainties in the Chinese automation market and impacts from the project business.

HELLA

Q2 results due

OVERSEAS STOCK MARKETS

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

Nikkei +1.0 pct, Shanghai stocks +0.4 pct.

Time: 5:53 GMT.

GERMAN ECONOMIC DATA

No major economic data scheduled.

DIARIES

REUTERS TOP NEWS (Reporting by Berlin Speed Desk)

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