July 24, 2019 / 4:40 AM / a month ago

German stocks - Factors to watch on July 24

BERLIN/FRANKFURT, July 24 (Reuters) - The following are some of the factors that may move German stocks on Wednesday:

DEUTSCHE BANK

Q2 results due. Germany’s biggest lender has said it expected a 2.8 billion euro net loss as a result of restructuring charges.

Separately, three bank insiders said it would take years to shed 288 billion euros of unwanted assets, tying up capital that could have generated income of 500 million euros a year.

DAIMLER

Q2 results due. The maker of Mercedes-Benz cars has said it would post an operating loss and that full-year results would be significantly lower than last year.

COVESTRO

H1 results due. Quarterly EBIT seen at 270 million euros. Poll:

DEUTSCHE BOERSE

H1 results due

UBER

U.S. ride-hailing company Uber is launching a freight platform in Germany, taking on local technology startups in a race to grab a share of Europe’s $500 billion trucking market.

METRO

German wholesaler Metro B4B.DE said like-for-like sales increased by 3.4% in its fiscal third quarter, with growth driven by all regions except for its troubled Russian division.

Additionally, the company is due to release a statement on the takeover offer by EP Global Commerce.

TELEFONICA DEUTSCHLAND

Q2 results due

DWS

H1 results due

ANALYSTS’ VIEWS

COMMERZBANK - Credit Suisse cuts price target to 7 euros from 8 euros

JUNGHEINRICH - Citigroup cuts price target to 23.50 euros from 30.50 euros

OVERSEAS STOCK MARKETS

Dow Jones +0.7%, S&P 500 +0.7%, Nasdaq +0.6% at close.

Nikkei +0.5%, Shanghai stocks +1.0%.

Time: 4:36 GMT

GERMAN ECONOMIC DATA

Markit July flash PMI due at 0730 GMT. Manufacturing seen at 45.2, services at 55.3, composite at 52.3

DIARIES

REUTERS TOP NEWS (Reporting by Berlin Speed Desk and Frankfurt Newsroom)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below