November 4, 2019 / 6:59 AM / 11 days ago

German stocks - Factors to watch on November 4

BERLIN/FRANKFURT, Nov 4 (Reuters) - The following are some of the factors that may move German stocks on Monday:

DEUTSCHE BANK

Regulators are pressing Deutsche Bank’s Christian Sewing to give up his dual role as chief executive and investment bank head because of fears his responsibilities could undermine the group’s restructuring, the Financial Times said on Monday.

AUTOS

Chancellor Angela Merkel meets executives and union representatives at a German auto industry summit on Monday to discuss the transition to low-emission vehicles. In a video message on Sunday, she demanded one million charging stations for electric cars by 2030. Lower Saxony state premier Stephan Weil, a VW supervisory board member, wants 100,000 by 2021.

The United States may not need to impose tariffs on imported vehicles later this month after holding “good conversations” with automakers in the European Union, Japan and Korea, U.S. Commerce Secretary Wilbur Ross said in an interview published on Sunday.

BMW

BMW’s U.S. sales in October up 9.4% year-on-year.

DAIMLER

Mercedes Benz U.S. Oct. sales rose 1.2%.

VOLKSWAGEN

Volkswagen Of America said its October sales fell 3.2%.

Volkswagen Financial Services has set aside a budget of 500 million euros for investment in its digitisation by 2025 as part of an efficiency programme, but the sum might be exceeded by 10-20%, chief financial officer Frank Fiedler told Boersenzeitung (BoeZ).

LUFTHANSA

Flight attendants’ union UFO plans to announce measures in an escalating row over workers’ pay and pensions.

SIEMENS

Flagship unit Siemens Digital Industries (DI) recovered in the fourth quarter, board member Klaus Helmrich said in an interview with Euro am Sonntag, ahead of Nov. 7 financial data for its fiscal 2018/19 year. The unit was focusing on food and drink, chemical and pharmaceutical industries and thus overcoming problems with deteriorating demand from automotive and machine building firms, he said.

SIEMENS HEALTHINEERS

Siemens Healthineers on Monday posted a better-than-expected 36% increase in fourth-quarter net profit, to 507 million euros ($566.1 million), as sales of its hospital equipment were much stronger than expected.

DWS

DWS is pursuing its goal of building a new European rival to BlackRock, Vanguard and Amundi and is eager for a major deal, the Financial Times reported on Sunday.

WIRECARD

Business in the third quarter was “excellent,” Chief Finance Officer Alexander von Knoop told Euro am Sonntag, ahead of financial data due on Nov. 6. He cited “highly performing partnerships with billions of potential” as contributing factors.

Separately, Wirecard’s Chief Executive told Handelsblatt that all it’s business relationships were “authentic” as the firm hired KPMG his company to address allegations in the Financial Times about attempts to inflate sales and profits.

Wirecard said it would seek to buy back up to 200 million euros worth of own shares.

TELEFONICA DEUTSCHLAND

Telefonica Deutschland on Monday reported a 1.9% increase in revenue in the third quarter as it added 392,000 subscribers, leading CEO Markus Haas to confirm guidance for the year as a whole.

TRATON

Q3 results due.

HYPOPORT

The company said net profit in the first nine months of the year were up to 18.9 million euros from 16.9 million euros last year.

DEUTSCHE BAHN

Deutsche Bahn is in exclusive talks with U.S. buyout group Carlyle over the sale of the German rail operator’s Arriva international passenger transport unit, a person familiar with the matter said on Friday.

Bild am Sonntag (BamS) reportd the supervisory board on Nov. 7 is due to approve a hike of executive board members salaries by 33% next year, aimed at bringing Bahn in line with comparable companies.

BamS reported separately that Deutsche Bahn rival Flixbus, a coach company, would close routes from 2021 as recent climate legislation seeks to cut tax on Bahn tickets to encourage rail over road.

THOMAS COOK

Zurich Insurance which provided insolvency cover for Thomas Cook Germany, which is separating its brands and operations from its failed UK parent, expects to start paying out compensation to customers from early December onwards at the earliest, the head of the operations and claims business unit, Horst Nussbaumer, told BamS.

The company has received claims amounting to 250 million euros so far which it estimates to be significantly more than half of what eligible parties might claim altogether.

ANALYSTS’ VIEWS

ALSTRIA OFFICE REIT AG: HSBC raises to “buy” from “hold”

UNITED INTERNET AG: Jefferies cuts to “hold” from “buy”

OVERSEAS STOCK MARKETS

Dow Jones +1.1%, S&P 500 +1.0%, Nasdaq +1.1% at close.

Japanese markets closed, Shanghai stocks +0.5%.

Time: 6:57 GMT

GERMAN ECONOMIC DATA

German October manufacturing Markit PMI due at 0855 GMT. Seen at 41.9 points.

DIARIES

REUTERS TOP NEWS (Reporting by Berlin Speed Desk and Frankfurt Newsroom)

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