August 19, 2019 / 5:25 AM / 3 months ago

German stocks - Factors to watch on August 19

BERLIN/FRANKFURT, Aug 19 (Reuters) - The following are some of the factors that may move German stocks on Monday:

DEUTSCHE BANK

Some of Deutsche Bank’s major investors want supervisory board chairman Paul Achleitner to step down before his term ends in 2022, a German magazine reported on Friday.

DAIMLER

Some 40,000 new Mercedes-Benz cars currently can’t be delivered due to quality problems, German magazine Automobilwoche reported. It added that parent company Daimler was blaming two suppliers for the technical problems.

THYSSENKRUPP

Possible bidders for Thyssenkrupp’s elevator division are under pressure to come up with firm offers, the conglomerate’s chief executive told German magazine Der Spiegel.

METRO

Metro CEO Olaf Koch has poured cold water on the idea of paying out an extra dividend following the planned sales of its China business and supermarket chain Real. In an interview with Frankfurter Allgemeine Sonntagszeitung, Koch said Metro had already distributed dividends worth 2.2 billion euros over the past few years. Metro’s top priority now was investment in profitable growth, including acquisitions, Koch added.

GRAND CITY PROPERTIES

The company affirmed its 2019 guidance after reporting a 7% increase in adjusted EBITDA in the first half of the year .

ANALYSTS’ VIEWS

E.ON SE: Jefferies raises to hold from underperform

KNORR BREMSE AG: Credit Suisse initiates coverage with underperform rating

DAIMLER: Fitch Ratings has affirmed the outstanding notes issued by Mercedes-Benz Master Owner Trust (MBMOT) as a result of its annual review of the trust

OVERSEAS STOCK MARKETS

Dow Jones +1.2%, S&P 500 +1.4%, Nasdaq +1.7% at close.

Nikkei +0.7%, Shanghai stocks +1.4%.

Time: 5:23 GMT

GERMAN ECONOMIC DATA

No major economic data scheduled.

DIARIES

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

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