BERLIN/FRANKFURT, Jan 13 (Reuters) - The following are some of the factors that may move German stocks on Monday:
December traffic figures due.
German engineering group Siemens said on Sunday it will fulfil its contractual obligations to a controversial coal mining project in Australia’s outback, despite criticism by climate activists including Greta Thunberg.
Activist Luisa Neubauer declined to accept a post on Siemens Energy, Bild am Sonntag said.
The German conglomerate has stepped up efforts to sell its Industrial Solutions unit, which builds plants and industrial sites, the Financial Times newspaper reported on Sunday.
Separately, Der Spiegel magazine on Friday reported Thyssenkrupp was considering reviving plans for a steel merger with smaller German peer Salzgitter.
Mercedes-Benz will build smart-branded electric cars with Zhejiang Geely Holding Group in the Chinese city of Xian from a base with annual capacity of around 150,000 vehicles, a senior official from its German parent Daimler said on Saturday.
German banking association BdB holds a news conference in Frankfurt to give an outlook on this year.
Thomas Eichelmann, the board member overseeing an outside audit of Wirecard was elected as chairman of the German payments company as it battles allegations of fraud and false accounting that have hit its share price.
Wacker Chemie is drawing up cost cutting plans in response to falling prices of polysilicon, a step which will include job cuts, chief financial officer Tobias Ohler told Germany’s Boersen-Zeitung.
DEUTSCHE BOERSE AG: Jefferies initiates coverage with “buy” rating and price target of 165 euros
SOFTWARE AG: JP Morgan raises target price to 30 euros from 26 euros
SAP SE: Citigroup raises price target to 140 euros from 126 euros
INFINEON TECHNOLOGIES AG: Citigroup raises price target to 24.5 euros from 22.5 euros
PUMA SE: RBC raises to “sector perform” from “underperform”; raises price target to 70 euros from 48 euros
OVERSEAS STOCK MARKETS
Dow Jones -0.5%, S&P 500 -0.3%, Nasdaq -0.3% at close.
Japanese markets closed, Shanghai stocks +0.1%.
Time: 5:41 GMT
GERMAN ECONOMIC DATA
German December wholesale prices due at 0700 GMT.
REUTERS TOP NEWS (Reporting by Berlin Speed Desk and Frankfurt Newsroom)
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