March 18, 2019 / 5:45 AM / 9 months ago

German stocks - Factors to watch on March 18

BERLIN/FRANKFURT, March 18 (Reuters) - The following are some of the factors that may move German stocks on Monday:


The lenders confirmed on Sunday they were in talks about a merger, prompting labour union concerns about possible job losses and questions from analysts about the merits of a combination.

The German government would not participate in a capital increase if one is needed for the merger, Handelsblatt reported.


The insurer is investigating combining its asset management business with DWS, which is mostly owned by Deutsche Bank, Bloomberg reported.


The group is moving ahead with plans to sell its animal-health business as large private equity firms such as KKR and CVC Capital Partners explore bids, Bloomberg reported.


The carmaker and Varta have both applied for state funding aimed at supporting battery cell production for electric vehicles, they said, hitting a deadline set by the German government.

Separately, BMW CEO Harald Krueger told Sueddeutsche Zeitung BMW would continue to compete fiercely with Daimler despite their planned cooperation in autonomous driving.


Daimler plans to build a big number of self-driving taxis from 2021 onwards, Automobilwoche magazine quoted the dedicated manager for the segment, Michael Hafner, as saying. Quoting an unnamed source, the magazine said that 10,000 units were being planned.


Northwestern German unions in the steel industry agreed on a deal with employers to receive 3.7 percent more pay from March, 100 euros per worker for January and February respectively, plus a permanent 1,000 euros more from 2020 with a right to turn this into five additional days off instead.


Germany’s telecoms regulator is due to hold a news conference on the auction of spectrum for 5G services that will begin on Tuesday.


Volkswagen’s supervisory board condemned remarks made by the company’s Chief Executive Herbert Diess after he appeared to allude to a Nazi-era slogan when he attempted to describe the carmaker’s earnings potential.

Separately, Diess told daily Die Welt that a structural transition to electromobility should no longer be called into question, saying electric vehicles were the best and most efficient way forward to cut carbon dioxide emissions.


2018 results due


A unit of Hochtief’s Australian division Cimic announced it had won a $1.7 billion contract in Botswana.


Uniper is due to brief investors and analysts on its Russian business, which has become the sticking point in talks with Fortum over a potential full takeover. Investor call due to start at 1200 GMT.


Annual results due


Q4 results due


The automotive cable and wiring system specialist has abandoned a 2019 profit target it issued last month, unveiled job cuts as well as possible divestments and said its finance chief would quit.


Dow Jones +0.5 pct, S&P 500 +0.5 pct, Nasdaq +0.8 pct at close.

Nikkei +0.6 pct, Shanghai stocks +2.4 pct.

Time: 7:05 GMT.


No major economic data scheduled


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

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