October 17, 2019 / 4:55 AM / a month ago

German stocks - Factors to watch on October 17

BERLIN/FRANKFURT, Oct 17 (Reuters) - The following are some of the factors that may move German stocks on Thursday:

BANKS

The head of Germany’s financial watchdog Bafin told German weekly Wirtschaftswoche that he would not oppose large, cross-border bank mergers, but that we was against deals that underestimate resulting financial burdens. Felix Hufeld added that, in Europe’s current interest rate environment, banks have to trim their business models in order to achieve higher profitability as cutting costs alone would not be sufficient.

ARMS

France and Germany have signed a binding deal on arm exports control rules for jointly developed programmes, such as the tank and the warplane of the future, the two countries said on Wednesday.

CECONOMY

Supervisory board meeting due. The company earlier this week announced that the board would discuss whether or not Ceconomy’s chief executive officer should stay in office.

OVERSEAS STOCK MARKETS

Dow Jones -0.1%, S&P 500 -0.2%, Nasdaq -0.3% at close.

Nikkei +0.1%, Shanghai stocks unchanged.

Time: 4:55 GMT

GERMAN ECONOMIC DATA

*No major economic data scheduled.

DIARIES

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

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