June 7, 2019 / 4:39 AM / 3 months ago

German stocks - Factors to watch on June 7

BERLIN/FRANKFURT, June 7 (Reuters) - The following are some of the factors that may move German stocks on Friday:

DEUTSCHE BANK

German prosecutors have extended an investigation into a tax-stripping scheme, with around 70 current and former executives of Deutsche Bank now being treated as suspects, the Sueddeutsche Zeitung reported.

BMW

BMW sees no reason to change its plans for Mexico in the wake of U.S. threats to slap duties on Mexican imports, a board member of the German carmaker said on Thursday, adding the company sells cars globally despite tariffs placed by most countries on imported vehicles.

Volkswagen

A group of major automakers, including Volkswagen, on Thursday backed a compromise on vehicle emissions aimed at heading off a confrontation between California and the Trump administration over requirements through 2026.

Separately, Japan’s NSK LTD on Friday said it agreed with Volkswagen to tie up in steering business.

DEUTSCHE BAHN

Deutsche Bahn plans to sell a stake in its logistics arm DB Schenker to fill an expected funding gap that will be left even after its planned outright sale of British transport business rail Arriva, a source familiar with the matter said.

ANNUAL GENERAL MEETINGS

Deutsche Pfandbriefbank AG - 1.00 eur/shr dividend proposed

EX-DIVIDEND

AUMANN - 0.20 euros/shr dividend proposed

ROCKET INTERNET - 0 euros/shr dividend proposed

GERRESHEIMER - 1.15 euros/shr dividend proposed

XING - 5.70 euros/shr dividend proposed

ANALYSTS’ VIEWS

SOFTWARE AG: Credit Suisse raises to “neutral” from “underperform”

DEUTSCHE WOHNEN SE: Morgan Stanley cuts to “equal-weight” from “overweight”

OVERSEAS STOCK MARKETS

Dow Jones +0.7 pct, S&P 500 +0.6 pct, Nasdaq +0.5 pct at close.

Nikkei +0.6 pct, Chinese markets closed.

Time: 4:39 GMT.

GERMAN ECONOMIC DATA

German April Industrial Output due at 0600 GMT. Seen -0.4% m/m

German April trade data due at 0600 GMT. Exports seen at -0.9% M/M, Imports at -0.2% M/M. Trade surplus seen at 18.6 billion euros.

DIARIES

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

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