May 2, 2019 / 4:26 AM / 21 days ago

German stocks - Factors to watch on May 2

BERLIN/FRANKFURT, May 2 (Reuters) - The following are some of the factors that may move German stocks on Thursday:

DEUTSCHE BANK

Deutsche Bank is in danger of failing U.S. stress tests, a European bank supervisor told Reuters, adding to pressure on Germany’s biggest lender to make changes to its investment bank after failed merger talks with Commerzbank.

BANKING

ECB’s interest rates are likely to stay low for a long time and banks in the euro area should consolidate and step up efforts to improve profitability, ECB Vice-President Luis de Guindos said.

VOLKSWAGEN

Q1 results due. EBIT seen at 3.92 billion euros. Poll:

Additionally, CEO Herbert Diess told Frankfurter Allgemeine Zeitung that he rules out forced redundancies as a result of the shift to electric vehicles, noting that many workers are anyway reaching retirement age and new technologies should create new jobs.

BMW DAIMLER

The carmakers reported their April U.S. sales.

DEUTSCHE LUFTHANSA

The airline said the proportion of non-Germans among its investors rose to 41.7 percent, putting aviation licences at risk if the rate exceeds 50 percent. But the German carrier stopped short of buying back shares as a countermeasure.

Separately, Thomas Cook has set a deadline of May 7 for expressions of interest in its airline business, with Indigo Partners and Lufthansa among the likely bidders, sources said.

BASF

The chemicals company said it completed the merger of oil and gas groups Wintershall and DEA and is aiming for a stock market listing of the new company in the second half of 2020.

Wintershall DEA chief executive Mario Mehren told Handelsblatt he does not expect an IPO in which the majority of shares are offered, given the size of the planned listing. He added that he sees annual investments of 1.5 billion to 2.5 billion euros.

THYSSENKRUPP

European workers at India’s Tata Steel no longer believe that a joint venture with Thyssenkrupp is in the best interests of the company, the European works council said in a statement.

DEUTSCHE TELEKOM

U.S. Attorney General William Barr has recused himself from the Justice Department’s deliberations on whether to allow Deutsche Telekom’s T-Mobile US to proceed with its $26 billion acquisition of Sprint, according to a source familiar with the decision.

BAYER

The supervisory board of Bayer is planning an extraordinary meeting to discuss a crisis of confidence in its leadership after an investor rebuke at the company’s annual meeting, a magazine reported.

FRESENIUS

Q1 results due

FRESENIUS MEDICAL CARE

Q1 results due

AXEL SPRINGER

The media company said it would sell its majority stake in European vacation rental group @Leisure to Indian hotel startup OYO for 180 million euros.

HUGO BOSS

Q1 results due. Net profit seen at 44.8 million euros. Poll:

SIEMENS HEALTHINEERS

Fiscal Q2 results due. Net profit seen at 374 million euros. Poll:

ZALANDO

Q1 results due. Adj EBIT seen at 6.6 million euros. Poll:

HAMBORNER REIT

Q1 results due

DIALOG SEMICONDUCTOR

EX-DIVIDEND

MUNICH RE - 9.25 eur/shr dividend

INNOGY - 1.40 eur/shr dividend

DEUTZ - 0.15 eur/shr dividend

JUNGHEINRICH - 0.50 eur/shr dividend

ANALYSTS’ VIEWS

DEUTSCHE BANK - Morgan Stanley resumes coverage with “underweight” rating

COMMERZBANK - Morgan Stanley resumes coverage with “equal weight” rating

COMMERZBANK - Jefferies starts with “hold” rating

DELIVERY HERO - JP Morgan raises to “overweight” from “neutral”

OVERSEAS STOCK MARKETS

* Dow Jones -0.6 pct, S&P 500 -0.8 pct, Nasdaq -0.6 pct

* Japan markets closed for Golden Week holidays

* Mainland China’s financial markets closed for Labour Day holidays

GERMAN ECONOMIC DATA

March retail sales data due at 0600 GMT. Seen -0.4 pct m/m, +2.9 pct y/y

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