April 30, 2018 / 5:22 AM / 3 months ago

German stocks - Factors to watch on April 30

FRANKFURT, April 30 (Reuters) - The following are some of the factors that may move German stocks on Monday:

BASF, BAYER

Deadline for the EU Commission to decide whether BASF is a suitable buyer for the units Bayer is selling to receive antitrust approval of its takeover of Monsanto.

CONTINENTAL

Continental and Osram expect to achieve double-digit sales growth over the next five years at their 50-50 joint venture Osram Contintental GmbH, managers told Automobilwoche at the weekend.

DAIMLER

Daimler has failed to prevent authorities from being allowed to review documents seized in a raid, according to Stuttgarter Zeitung.

DEUTSCHE BANK

The German lender is expected to cut around 1,000 jobs or 10 percent of its workforce in the United States, a person familiar with the matter said on Friday, as it scales back its global investment banking ambitions.

Deutsche Bank plans to integrate its private clients business with that of Postbank into a single legal entity by the end of May, Handelsblatt reports citing its own sources, adding that a formal decision has yet to be taken.

Rating agency Moody’s changed its outlook on A3 rated deposits citing rising execution challenges, strategic challenges and strategic turmoil.

DEUTSCHE TELEKOM

T-Mobile US Inc will acquire peer Sprint Corp , in a $26 billion all-stock deal that will combine the third and fourth largest U.S. wireless carriers and is expected to attract regulatory scrutiny.

Deutsche Telekom said its leverage would increase beyond its target corridor of 2-2.5 times EBITDA as a result of the takeover by its unit T-Mobile US of Sprint Corp, but will return to the comfort zone in 2021.

Germany’s regulator is considering requiring cable TV operators to provide network access to third parties, in a shift that could affect talks on a European merger between Vodafone and Liberty Global.

Deutsche Telekom has awarded a large contract to China’s Huawei for a turnkey solution to install junction boxes to connect its copper-wire network to customers, Wirtschaftswoche reported citing sources. Huawei faces allegations in the United States that it poses a national security threat.

NORDEX

The German market will pick up after 2019 the company’s chief financial officer told Boersen-Zeitung.

VOLKSWAGEN

Volkswagen supervisory board member Wolfgang Porsche, 74, said his nephew, Ferdindand Oliver Porsche, could become the next spokesman for the Porsche family that controls the German car maker, Automobilwoche reported. Ferdinand Oliver already sits on the supervisory boards of VW, Audi and Porsche, while the family has a 52.2 percent voting stake in VW.

A Stuttgart court will seek testimony from VW’s former development chief Heinz-Jakob Neusser, Wirtschaftswoche said.

RIB SOFTWARE

Q1 results due.

RWE

The lifspan of nuclear power stations will not be extended, Tageszeitung reported. But Vattenfall and RWE are set to get around 1 bln euros compensation for suffering under Germany’s policy of exiting nuclear power.

STADA

Stada will delay a vote seeking ratification of the actions of the management board at the company’s annual general meeting, the company told Handelsblatt.

QINGDAO HAIER

Shareholders of Chinese white goods maker Qingdao Haier Co Ltd have backed plans to list on the regulated market of the Frankfurt Stock Exchange.

TELE COLUMBUS

Annual report due. The group published preliminary results on March 29 and issued guidance for 2018.

UNIPER

Finnish utility Fortum on Saturday said Russian authorities had approved its acquisition of up to 50 percent of German counterpart Uniper, playing down the decision to effectively deny it a controlling stake.

WASHTEC

Q1 results due.

ANNUAL GENERAL MEETINGS

WASHTEC - 2.45 eur/shr dividend proposed

EX-DIVIDEND

CONTINENTAL - 4.50 eur/shr dividend

MERCK - 1.25 eur/shr dividend

OVERSEAS STOCK MARKETS

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

Japanese markets closed, Chinese markets closed.

Time: 5.21 GMT.

GERMAN ECONOMIC DATA

German March retail sales due at 0600 GMT. Seen +0.9 pct m/m, +1.0 pct y/y.

German April inflation data due at 1200 GMT. CPI seen flat m/m, +1.6 pct y/y, HICP flat m/m, +1.5 pct y/y.

DIARIES

REUTERS TOP NEWS (Reporting by Tom Sims, Douglas Busvine and Edward Taylor)

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