FRANKFURT, Oct 4 (Reuters) - The following are some of the factors that may move German stocks on Wednesday:
The European Union will host auto, chemical and engineering executives next week — including members of BASF and Siemens — to discuss developing battery manufacturing in the bloc to compete with Asian and U.S. manufacturers.
Major automakers posted higher U.S. new vehicle sales in September as consumers in hurricane-hit parts of the country replaced flood-damaged cars.
The European Parliament’s Industry committee voted on Monday to limit the regulatory sweeteners given to operators investing in new networks together and gave regulators greater powers to force companies to give rivals access to their networks.
New York-based Senvest Management is shorting three drug stocks, including Fresenius SE, its Chief Executive Richard Mashaal said on Tuesday.
French police searched German drugmaker Merck KGaA’s plant in Lyon on Tuesday as part of an investigation into complaints by patients about changes to its thyroid drug Levothyrox, a company spokeswoman said.
The African arm of Germany’s Munich Re has dropped KPMG as its auditor, the latest company to distance itself from the accountancy firm entangled in a scandal involving friends of South African President Jacob Zuma.
The steel and engineering group will guarantee that workers will be equally represented following the planned merger of its European steel operations with Tata Steel’s, its chief executive told a German newspaper.
The specialty chemicals group on Tuesday said it would stop production at its Ankerweg site in the Netherlands, where it makes base oils for industrial lubricants, by no later than November 2018.
Capital markets day
MERCK - Invest Securities raises to “buy” from “neutral”
THYSSENKRUPP - Barclays cuts to “underweight” from “equal weight”
TELEFONICA DEUTSCHLAND - RBC cuts to “underperform” from “outperform”
US markets closed.
Nikkei -0.1 pct, Chinese markets closed.
Time: 5.13 GMT.
German September Markit PMI data due at 0755 GMT. Services PMI seen unchanged at 55.6, composite index seen unchanged at 57.8.
REUTERS TOP NEWS (Reporting by Georgina Prodhan, Christoph Steitz and Ludwig Burger)