September 27, 2017 / 5:25 AM / 22 days ago

German stocks - Factors to watch on September 27

FRANKFURT, Sep 27 (Reuters)

The following are some of the factors that may move German stocks on Wednesday:

SIEMENS

The industrial group and French rival Alstom agreed late on Tuesday to merge their rail operations, creating a European champion to better withstand the international advance of Chinese state-owned CRRC.

E.ON UNIPER

Finnish power company Fortum will launch a full takeover bid for Uniper, the power stations and energy trading business part-owned by German utility E.ON, after reaching an agreement with E.ON.

MUNICH RE

German reinsurer Munich Re’s MUVGn.DE Ergo unit is considering options for its insurance businesses Victoria Leben and Ergo Leben, which have ceased underwriting new business, it said late on Tuesday.

ADIDAS

U.S. authorities on Tuesday unveiled fraud charges against an Adidas executive and college basketball coaches, following a multi-year corruption probe. Prosecutors said they uncovered that apparel executives, financial advisers and others bribed assistant coaches to steer elite players to them, with some money going to athletes’ families.

Nike posted its slowest quarterly sales growth in nearly seven years.

DAIMLER

Mercedes-Benz is set to return to Egypt with a 50,000 square metre distribution facility in the new economic zone near the Suez Canal, Suez Canal Authority Chairman Mohab Mamish said on Tuesday.

LINDE

Praxair holds extraordinary shareholder meeting to vote on planned merger with Linde. 21.84 percent of the Linde shares have already been tendered, as of Tuesday, ahead of Oct 24 deadline. Start of EGM 1400 GMT.

HELLA

Hella reported Q1 adj EBIT up 5.6 pct at 125 million euros.

SINGULUS

Singulus reduced its revenue forecast and said it expects a 2017 operating result of between eur +2 million and eur -3 million.

ANALYSTS’ VIEWS Heidelbergcement - Jefferies starts with buy rating; eur 98 price target

OVERSEAS STOCK MARKETS

Dow Jones -0.1 pct, S&P 500 unchanged, Nasdaq +0.2 pct at close.

Nikkei -0.4 pct, Shanghai stocks +0.1 pct.

Time: 5.22 GMT.

GERMAN ECONOMIC DATA

No economic data scheduled.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Ludwig Burger and Arno Schuetze)

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