FRANKFURT, Jan 12 (Reuters) - The following are some of the factors that may move German stocks on Friday:
German Chancellor Angela Merkel’s conservatives and Social Democrats (SPD) worked through the night on Thursday to resolve differences on taxes, migration and other issues blocking formation of a new “grand coalition” government.
Gucci-owner Kering plans to spin off German sports brand Puma to the French conglomerate’s shareholders as it sharpens the group’s focus squarely on its luxury brands.
German union IG Metall announced plans for walkouts at BMW and Volkswagen’s Audi on Friday as it seeks to put pressure on employers in talks over higher wages and shorter hours.
Separately, Volkswagen has offered a 2 percent wage hike for around 120,000 workers in Germany, plus a one-time payment of 200 euros. Union IG Metall had demanded 6 percent more pay and changes to the company pension plan.
DRILLISCH, UNITED INTERNET
Drillisch EGM due to vote on planned change of name to 1&1 Drillisch AG following acquisition by United Internet.
The property group said the value of its real estate investment portfolio stood at 3.35 billion euros ($4.03 billion)at the end of 2017, 750 million euros higher than after the first half.
SAP - Morgan Stanley raises rating to equal-weight from overweight, price target cut to 105 euros from 111 euros
VOLKSWAGEN - Macquarie raises to “outperform”, raises target price to 210 euros from 155 euros
CARL ZEISS MEDITEC - Berenberg cuts to “hold” from “buy”, cuts price target to 48 euros from 55 euros
OVERSEAS STOCK MARKETS
Dow Jones +0.8 pct, S&P 500 +0.7 pct, Nasdaq +0.8 pct at close.
Nikkei -0.2 pct, Shanghai stocks +0.1 pct.
Time: 6.12 GMT.
GERMAN ECONOMIC DATA
No economic data scheduled.
EUROPEAN FACTORS TO WATCH
REUTERS TOP NEWS ($1 = 0.8305 euros) (Reporting by Emma Thomasson and Maria Sheahan)
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