September 10, 2018 / 5:07 AM / 2 months ago

German stocks - Factors to watch on September 10

FRANKFURT/BERLIN, Sept 10 (Reuters) - The following are some of the factors that may move German stocks on Monday:

CARMAKERS

A working group of German government officials and car industry lobbyists has recommended hardware retrofits for older diesel vehicles as a way to avert inner-city bans, Frankfurter Allgemeine Sonntagszeitung reported.

DEUTSCHE TELEKOM

The German government, which holds shares in Deutsche Telekom directly and indirectly, would give priority to the security of critical data networks before considering the sale of any shares, Frankfurter Allgemeine Sonntagszeitung quoted the economy ministry as saying.

Separately, Handelsblatt reported that IT services division T-Systems struck a deal with German labour representatives on cutting up to 5,600 jobs in Germany, down from initial plans for about 6,000 job cuts in its home market.

E.ON, RWE

German utilities such as E.ON and RWE are welcome to invest in China’s power grids, China’s ambassador to Germany, Shi Mingde, told German daily Rheinische Post.

HENKEL

The maker of household products and industrial glues plans to cut 75 jobs at its Duesseldorf headquarters, seeking to avoid forced redundancies, daily Rheinische Post quoted a company spokesman as saying.

REINSURERS

Annual industry conference being held in Monte Carlo.

Munich Re board member Torsten Jeworrek said he expected “flattish” prices around the world in the current contract renewal round, allowing the reinsurer to maintain the profitability seen in 2018.

VOLKSWAGEN

Trial due to start in Braunschweig in which investors are seeking 9.2 billion euros ($10.7 billion) in compensation from VW, arguing that the carmaker should have informed shareholders about a diesel pollution scandal before regulators did in September 2015.

ZALANDO

The three co-founders and co-CEOs of online fashion retailer Zalando told Bild am Sonntag in a joint interview that while there were frequent rumours of takeover interest by Amazon they would not sell their shares because they have ambitious plans to work on.

HAPAG LLOYD

The container shipping group’s Chairman Michael Behrendt told Die Welt that a merger with rival CMA CGM was not on the agenda. The paper cited CEO Rolf Habben Jansen as saying any large merger that doubled Hapag Lloyd’s size would be too complex.

KWS SAAT SE

The world’s largest maker of sugar-beet seeds plans to change its legal form to KGaA so that it can raise capital for takeover deals without lessening the influence of its anchor investors, its CEO told Sunday paper Euro am Sonntag.

OVERSEAS STOCK MARKETS

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

Nikkei +0.2 pct, Shanghai stocks -0.7 pct.

Time: 5.06 GMT.

GERMAN ECONOMIC DATA

No economic data scheduled.

DIARIES

REUTERS TOP NEWS (Reporting by Douglas Busvine, Ludwig Burger and Berlin Speed Desk)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below