April 23, 2018 / 5:13 AM / 9 months ago

German stocks - Factors to watch on April 23

BERLIN/FRANKFURT, April 23 (Reuters) - The following are some of the factors that may move German stocks on Monday:


The European Commission is tending toward intensifying its antitrust probe of German automakers, which could mean fines are more likely, Handelsblatt reported citing industry sources.

German Environment Minister Svenja Schulze told newspaper Tagesspiegel on Saturday she does not think software updates for diesel vehicles in Germany will be enough to solve air quality problems and that hardware retrofits are the only way to avoid driving bans.

Separately, VW’s independent monitor in the U.S., Larry Thompson, has handed in his first report to the U.S. Department of Justice, criticising the way VW dealt with dieselgate and how there had been few personnel changes in Germany as a result, Bild am Sonntag reported.

Also, supplier group Prevent is planning to sue VW for damages, with a suit in the works, Sueddeutsche Zeitung reported on Monday, citing a spokesman for Prevent.


The company is planning more stores in city centres in order to make its brand more visible, board member Pieter Nota told Frankfurter Allgemeine Sonntagszeitung


Multiple supervisory board members cast dissenting votes at a meeting that reshuffled top management at Deutsche Bank earlier this month, several people with knowledge of the matter said on Friday.

The European Central Bank has asked for clarification about a 28 billion euro ($34 billion) mistaken transfer that the German lender made in March, Handelsblatt reported on Friday.

Chinese conglomerate HNA has cut its stake in Deutsche Bank to 7.9 percent, according to a U.S. regulatory filing.


Robots to help postal workers deliver parcels are still too expensive for widespread use, Chief Executive Frank Appel told Frankfurter Allgemeine Sonntagszeitung.


The healthcare group said Sunday it had decided to pull out of its planned acquisition of Akorn after it found data integrity breaches at the U.S. generic drug maker.


The dialysis specialist on Sunday cut its revenue target for the year due to lower than expected doses of calcimimetic drugs at its dialysis service business in the United States.

The company also said on Saturday it would sell its majority shareholding in Sound Inpatient Physicians Holdings for $2.15 billion.


Unit Swiss International Air Lines is considering more long-haul jets, although a decision has not yet been taken, Swiss CEO Thomas Kluehr tells SonntagsZeitung in Switzerland.


Airbus is ready to compromise when it comes to how roles for the development of a new European fighter jet will be divided up, the head of its defence unit told Welt am Sonntag.


The container shipping firm plans a 20 percent reduction in its carbon dioxide (CO2) emissions by 2020, compared with 2016, to help support a drive to halve emissions in the global shipping industry.


SCHAEFFLER - 0.55 eur/preference shr dividend


Dow Jones -0.8 pct, S&P 500 -0.9 pct, Nasdaq -1.3 pct at close.

Nikkei -0.3 pct, Shanghai stocks -0.2 pct.

Time: 5.10 GMT.


German April flash PMI due at 0730 GMT. Manufacturing PMI seen at 57.6 vs 58.2 points, services PMI at 53.8 vs 53.9, composite PMI at 55.0 vs 55.1.


REUTERS TOP NEWS (Reporting by Victoria Bryan and Maria Sheahan)

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