September 11, 2019 / 4:32 AM / 5 days ago

German stocks - Factors to watch on September 11

BERLIN/FRANKFURT, Sept 11 (Reuters) - The following are some of the factors that may move German stocks on Wednesday:

AUTOS

Executives gather in Frankfurt for the IAA auto show.

Daimler has struck a deal to buy lithium ion battery cells from Farasis Energy, a Chinese-American supplier that is building a factory in Germany to help Mercedes-Benz ramp up electric vehicle production.

Also, Daimler is making its Chennai, India plant a global export hub to serve its Latin American markets from 2022, India’s Economic Times reported.

Additionally, auto supplier Bosch expects driver assistance systems to reach 2 billion euros in sales this year, CEO Volkmar Denner said.

DEUTSCHE BANK COMMERZBANK

Union Verdi is due to brief journalists on its wage talks with Germany’s biggest listed lenders, after it said discussions with Deutsche’s retail unit Postbank had failed, increasing the likelihood of new walkouts.

BANKING

European banks have stepped up their protest against rock-bottom interest rates ahead of a central bank meeting expected to underpin a policy that tramples their profits and has even pushed some to offer free loans.

MERCK

Capital markets day due

OVERSEAS STOCK MARKETS

Dow Jones +0.3%, S&P 500 unchanged, Nasdaq unchanged at close.

Nikkei +1.1%, Shanghai stocks unchanged.

Time: 4:27 GMT

ECONOMY

* No major German economic data scheduled

* Chancellor Angela Merkel said her government was sticking to its balanced budget policy, tempering expectations for fiscal stimulus in Europe’s largest economy.

DIARIES

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

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