May 22, 2018 / 5:19 AM / 7 months ago

German stocks - Factors to watch on May 22

BERLIN/FRANKFURT, May 22 (Reuters) - The following are some of the factors that may move German stocks on Tuesday:

U.S. TRADE

German companies are concerned that U.S. President Donald Trump is increasingly thinking only of America rather than just putting his country first, the head of Germany’s DIHK Chambers of Commerce told media.

IRAN

The United States on Monday demanded Iran make sweeping changes — from dropping its nuclear program to pulling out of the Syrian civil war — or face severe economic sanctions as the Trump administration hardened its approach to Tehran.

The German government will help German firms with business in Iran where it can, but cannot entirely shield them from the U.S. decision to quit the Iran nuclear deal and reimpose sanctions against Tehran, the economy minister told a newspaper.

DEUTSCHE BANK

Postbank plans to close more than 100 of its 1,000 branches by the end of the year, a board member told Bild am Sonntag, in a move unrelated to the bank’s troubled parent company Deutsche Bank.

Separately, Deutsche Bank finance chief James von Moltke told Boersen-Zeitung he did not expect any more major restructuring costs next year comparable to the expenses for the integration of Postbank or the restructuring of the investment bank.

RWE, UNIPER

Germany could reduce its coal-fired power generation capacity by half in the coming years if planned grid expansion and the addition of new gas-fired plants come online on schedule, the head of its energy regulator said.

DIALOG SEMICONDUCTOR

Dialog Semiconductor Chief Executive Jalal Bagherli said in an interview that his company would remain an important supplier to Apple amid reports that the U.S. tech giant will develop its own chips, Euro am Sonntag reported.

EVOTEC

Evotec and Celgene have entered into a long-term strategic drug discovery and development partnership to identify new therapeutics in oncology, Evotec said late on Sunday.

Under the terms of the agreement, Evotec will receive an upfront payment of $65 million and may be eligible to receive significant milestone payments as well as tiered royalties on each licensed programme, it said.

INDEX CHANGES AS OF SEPT. 24

Deutsche Boerse is planning a major shakeup of the composition of the MDAX, SDAX and TecDAX that affects technology stocks. It will publish shadow indices on June 18.

ANNUAL GENERAL MEETINGS

BET-AT-HOME.COM - 7.50 eur/shr dividend proposed

EX-DIVIDEND

FRESENIUS - 0.75 eur/shr dividend

ANALYSTS’ VIEWS

MBB SE - Berenberg cuts target price to EUR 121 from Eur 122

OVERSEAS STOCK MARKETS

US markets closed.

Nikkei -0.1 pct, Shanghai stocks -0.4 pct.

Time: 5.19 GMT.

GERMAN ECONOMIC DATA

No economic data scheduled.

DIARIES

REUTERS TOP NEWS (Reporting by Andreas Cremer, Tom Sims, Maria Sheahan and Caroline Copley)

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