July 9, 2018 / 5:05 AM / 8 months ago

German stocks - Factors to watch on July 9

FRANKFURT/BERLIN, July 9 (Reuters) - The following are some of the factors that may move German stocks on Monday:


Brexit Secretary David Davis has resigned because he was not willing to be “a reluctant conscript” to Prime Minister Theresa May’s plans to leave the European Union, delivering a blow to a British leader struggling to end divisions among her ministers.

British Prime Minister Theresa May secured a cabinet agreement on Friday for her plans to leave the European Union, overcoming rifts among her ministers to win support for “a business-friendly” proposal aimed at spurring stalled Brexit talks.


German Chancellor Angela Merkel and Chinese Prime Minister Li Keqiang sign various agreements before they give a joint news conference after the 5th German-Sino government consultations.

Plans by a Chinese company to build a battery cell factory in Germany should serve as a wakeup call for the national car industry, whose lack of its own production capacity risks leaving it exposed in the of electric mobility.


U.S. Secretary of State Mike Pompeo brushed off North Korean charges that he used “gangster-like” diplomacy in negotiations in Pyongyang, saying on Sunday after meeting his Japanese and South Korean counterparts that he would keep pursuing denuclearization talks with North Korea.


The insurer’s property investment arm expects China to account for up to 50 percent of its Asia-Pacific fund allocation going forward from 40 percent now, with focus on the new economy and logistics sectors, a senior executive said.


Covestro, the German plastics company spun out from Bayer BAYGn.DE, is looking out for acquisitions, Chief Financial Officer Thomas Toepfer told Boersen Zeitung.


Daimler AG has temporarily halted deliveries of a truck engine after finding that, in certain driving conditions, its emissions of nitrogen oxide (NOx) could exceed legal limits, the company said on Sunday.


The German consumer goods firm is sticking to its 2018 forecasts and is seeking acquisitions, its chief executive told a newspaper.


A plant in Goerlitz, eastern Germany focusing on steam turbine production must reach the break-even point in new business by 2020, Chief Executive Joe Kaeser told Saechsische Zeitung.


Rene Obermann, the former CEO of Deutsche Telekom, has offered to resign from the board of Thyssenkrupp, Handelsblatt reported citing sources. Obermann voted against a steel merger with Tata Steel and will stand down when a replacement is found.

Thyssenkrupp will embark upon a planned refinement of its strategy only after a new chief executive is named, the company’s management board wrote to employees on Friday.


Sports-car manufacturer Porsche does not rule out building cars in the United States if import tariffs of 50 percent were put in place, deputy chief executive Lutz Meschke told Stuttgarter Zeitung.


HORNBACH HOLDING - 1.50 eur/shr dividend


Brainloop, a German startup that specialises in providing encrypted hosting services for confidential documents, is being bought by U.S. Diligent Corp, according to Welt am Sonntag. Diligent has filed to the German cartel office for approval to buy Brainloop outright.


Flixbus plans to launch long-distance bus services on the U.S. West Coast while the mobility startup is also ramping up its low-cost train services in Germany, co-founder Andre Schwaemmlein told Saturday’s Frankfurter Rundschau.


Dow Jones +0.4 pct, S&P 500 +0.8 pct, Nasdaq +1.3 pct at close.

Nikkei +1.4 pct, Shanghai stocks +1.7 pct.

Time: 5.00 GMT.


German May trade balance due at 0600 GMT. Seen at 20.0 bln euros vs 19.4 bln, with exports +0.4 pct m/m.


REUTERS TOP NEWS (Reporting by Tom Sims, Douglas Busvine and Andreas Cremer)

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