June 1, 2018 / 5:24 AM / in 22 days

German stocks - Factors to watch on June 1

FRANKFURT, June 1 (Reuters) - The following are some of the factors that may move German stocks on Friday:

DEUTSCHE BANK

Standard & Poor’s on Friday downgraded Deutsche Bank’s DBKGn.DE credit rating to BBB+ from A-, dealing Germany’s largest lender a fresh blow to its reputation and a further hurdle to profitability.

The United States Federal Reserve last year designated Deutsche Bank AG’s DBKGn.DE U.S. operations to be in “troubled condition”, The Wall Street Journal reported on Thursday, citing people familiar with the matter.

Deutsche Bank said it will defend itself against cartel charges expected to be laid in Australia over its involvement in a $2.3 billion share issue it underwrote for Australia and New Zealand Banking Group Ltd ANZ.AX in 2015.

U.S. TARIFFS

The United States will impose tariffs on aluminum and steel imports from Canada, Mexico and the European Union from Friday, reigniting investor fears of a global trade war as Washington’s allies took steps to retaliate against U.S. goods.

The U.S. decision to impose tariffs on Canadian, EU and Mexican steel and aluminium flies in the face of international law, German Finance Minister Olaf Scholz said.

SIEMENS

German rail operator Deutsche Bahn’s management will ask for board approval on June 13 to order high-speed trains from Siemens worth almost 1 billion euros ($1.17 billion), German daily Handelsblatt reported, citing no sources.

AIRBUS

Airbus is “not paralysed” by uncertainty over who will lead the company in the future, its planemaking boss Guillaume Faury told Die Welt.

DIALOG SEMICONDUCTOR

Dialog Semiconductor said Apple now planned to source the main power management chips (PMICs) for one of its three new iPhone models from two suppliers instead of just from the German chipmaker, reducing its 2018 revenues by around 5 percent.

STS

Frankfurt stock market debut due.

ANALYSTS’ VIEWS

SAP SE SAPG.DE: JEFFERIES STARTS WITH BUY RATING; PRICE TARGET 120 EUROS

OVERSEAS STOCK MARKETS

Dow Jones -1 pct, S&P 500 -0.7 pct, Nasdaq -0.3 pct at close.

Nikkei +0.1 pct, Shanghai stocks -0.8 pct.

Time: 5.23 GMT.

GERMAN ECONOMIC DATA

German Markit manufacturing PMI due at 0755 GMT. Seen unchanged at 56.8 points.

DIARIES

REUTERS TOP NEWS ($1 = 0.8551 euros) (Reporting by Maria Sheahan and Douglas Busvine)

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