November 23, 2018 / 5:58 AM / 24 days ago

German stocks - Factors to watch on Nov. 23

BERLIN, Nov 23 (Reuters) - The following are some of the factors that may move German stocks on Friday:

CAR INDUSTRY

The heads of Volkswagen, BMW and Daimler are ready to attend a meeting at the White House with the Trump administration, but have not yet received a formal invitation, industry sources say.

LUFTHANSA

Lufthansa rejected a report that Chief Financial Officer Ulrik Svensson wants to step down, saying that they want to extend his contract.

AIRBUS

The German defence ministry expects to announce next steps by the end of the year in its drive to replace 85 ageing Tornado fighter jets. Sources familiar with the process said the ministry was likely to narrow the field of potential replacement jets from four to two — the Eurofighter Typhoon built by Airbus AIR.PA, Britain’s BAE Systems BAES.L and Italy’s Leonardo SpA LDOF.MI and most likely, the Lockheed Martin LMT.N F-35.

GEA

The food processing equipment maker said it was less confident about its business in 2019, citing the macroeconomic environment combined with rising material and staff costs.

ANALYSTS’ VIEWS

HENKEL AG - Credit Suisse raises to “neutral” from “underperform”

OVERSEAS STOCK MARKETS

US markets closed.

Japanese markets closed, Shanghai stocks -2.2 pct.

Time: 5:56 GMT.

GERMAN ECONOMIC DATA

German detailed Q3 GDP due at 0700 GMT. Seasonally adjusted GDP seen + 1.1 pct y/y and -0.2 pct q/q. Unadjusted GDP seen +1.1 pct y/y.

Markit flash PMI for German in November due at 0830 GMT. Seen at 52.2 points, flat from last month. Service PMI seen at 54.5 (from 54.7) points, composite PMI seen at 53.2 points (from 53.4).

DIARIES

REUTERS TOP NEWS (Reporting by Berlin Speed Desk)

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