April 29, 2019 / 5:00 AM / 3 months ago

German stocks - Factors to watch on April 29

BERLIN/FRANKFURT, April 29 (Reuters) - The following are some of the factors that may move German stocks on Monday:

BAYER

Bayer said on Saturday its non-executive supervisory board unanimously expressed its confidence in the board of management, which was given a vote of disapproval from shareholders at Friday’s annual general meeting.

BERTELSMANN

Shareholders at the company’s annual general meeting on Friday gave a vote of disapproval for Bert Habets, the recently departed chief of television group RTL, of which Bertelsmann holds 75.1 percent.

BMW

Daily Tageszeitung reports on Monday that Chinese battery maker CATL (Contemporary Amperex Technology Ltd.) will buy an industrial site from the insolvent solar panel maker SolarWorld’s assets in Arnstadt near Erfurt, Thuringia. Citing the receiver for SolarWorld, the paper said CATL plans to use the space to complement a yet to be built battery cell plant next door, in order to supply BMW and others by 2022.

COMMERZBANK DEUTSCHE BANK

Commerzbank chief executive Martin Zielke rebutted speculation the bank may be sold abroad after it abandoned six weeks of merger talks with peer Deutsche Bank last week. In an interview with Sunday weekly Welt am Sonntag (WamS), he said the bank was strong enough alone and its relationship with customers was intact.

Separately, Deutsche Bank CEO Christian Sewing said in an interview with the Frankfurter Allgemeine Sonntagszeitung (FAS) on Sunday that he was not concerned about the threat of a foreign takeover of Commerzbank. He conceded that Deutsche Bank needs to improve profitability over the next two to three years.

Also, Deutsche Bank Chairman Paul Achleitner told the Financial Times that Germany’s largest lender did not need a fundamental overhaul in its investment division after merger talks with rival Commerzbank failed.

COVESTRO

Q1 results due. Adjusted EBITDA seen down 59 percent. Poll:

DEUTSCHE BOERSE

Q1 results due. EBIT seen up 8 percent. Poll:

DEUTSCHE POST

The company will aim to raise fees for parcels next, having recently won regulator approval for hiking letter postage costs, chief executive Frank Appel told Westdeutsche Allgemeine Zeitung on Saturday, citing the need to pass on wage and general cost increases.

LUFTHANSA

The airline is investigating whether a possible maintenance error caused an emergency landing of a plane used by country’s top lawmakers this month, Der Spiegel reported on Friday.

DEUTSCHE EUROSHOP

Annual report due.

FIELMANN

Q1 results due. Pretax profit seen up 61 percent.

KRONES

Q1 results due. Operating profit seen down 11 percent. Poll:

RWE

Permissioning times for wind turbine projects in Germany are taking too long, RWE chief executive Rolf Martin Schmitz said in Der Spiegel, demanding the government speed them up. He cited two to three years required for permissioning in the United States versus twice that amount of time in Germany. He said RWE was increasingly looking to invest in wind energy overseas.

WASHTEC

Q1 results due.

WIRECARD

Wirecard is looking at acquisitions, backed by major shareholder, Japan’s Softbank, and equipped with funds totalling 1.8-1.9 billion euros, chief financial officer Alexander von Knoop told the weekly financial magazine Euro am Sonntag.

EX-DIVIDEND

Bayer - 2.80 euros/shr dividend

Continental - 4.75 euros/shr dividend

Merck KGaAc - 1.25 euros/shr dividend

GEA - 0.85 eur/shr dividend

RTL - 3.00 eur/shr dividend

Corestate Capital- 2.50 eur/shr dividend

ANALYSTS’ VIEWS

DAIMLER AG: CFRA cuts to “sell” from “hold”

PUMA SE: MORGAN STANLEY starts with “equal-weight” rating

OVERSEAS STOCK MARKETS

Dow Jones +0.3 pct, S&P 500 +0.5 pct, Nasdaq +0.3 pct at close.

Japanese markets closed, Shanghai stocks -0.1 pct.

Time: 4:59 GMT.

GERMAN ECONOMIC DATA

No economic data scheduled.

DIARIES

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

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