February 12, 2018 / 6:14 AM / 2 months ago

German stocks - Factors to watch on February 12

FRANKFURT, Feb 12 (Reuters) - The following are some of the factors that may move German stocks on Monday:

BAYER

The EU’s role is not to block mergers, but to make sure they conform with antitrust rules, European Union Competition Commissioner Margrethe Vestager told Rheinische Post, so Bayer needs to ensure that a merger with rival Monsanto does not stifle competition in digital farming.

BMW

BMW is close to signing a 10-year supply contract for lithium and cobalt, the company’s procurement chief told Germany’s Frankfurter Allgemeine Zeitung, amid an industry-wide scramble for raw materials needed for electric car batteries.

DAIMLER

The carmaker’s system of bonus caps has limited Chief executive Dieter Zetsche’s 2017 salary to below a double-digit figure, Frankfurter Allgemeine Sonntagszeitung said, citing company sources. In 2016 Zetsche got almost 8 million euros.

LUFTHANSA

The German airline is not impacted by engine problems on Airbus A320 neo aircraft, but remains in close contact with manufacturers. Lufthansa has 10 A320 neo aircraft with Pratt & Whitney engines, the company said.

MUNICH RE

Munich Re’s primary insurer Ergo plans to increase its equity ratio by 10 to 15 percent to around 4 percent in anticipation of rising stock prices, Ergo board member Andree Moschner told Handelsblatt.

VOLKSWAGEN

Porsche and Audi, Volkswagen’s main luxury car divisions, plan to develop a joint platform for electric vehicles that will enable them significantly cut down on costs, German newspapers quoted their chief executives as saying.

Also, monthly sales figures for VW brand expected.

AIRBUS

German prosecutors have ordered Airbus to pay 81.25 million euros to settle one of two investigations into alleged corruption surrounding the sale of Eurofighter combat jets to Austria in 2003, the two sides said on Friday.

Separately, Emirates signed a contract on Sunday to buy as many as 36 Airbus A380 aircraft worth as much as $16 billion at list prices, firming up an order that is crucial to the future of the world’s biggest passenger jet.

Also, Airbus has stopped delivering A320neo jets powered by Pratt & Whitney geared-turbofan engines and halted pre-delivery test flights after the latest in a series of problems with the engines, two sources familiar with the matter said.

STEINHOFF

South African tycoon Christo Wiese has cut his stake in retailer Steinhoff International, which has been embroiled in an accounting scandal, to 6.2 percent, regulatory filings show.

SUEDZUCKER

Europe’s largest sugar refiner, expects the next two years to be challenging after the European Union liberalised market rules with market share and sales growth thereafter, Chief Financial Officer Thomas Koelbl told German paper Boersen-Zeitung.

CARL ZEISS MEDITEC

The group published first-quarter financial results and said it expected its full-year adjusted EBIT margin to come to 14 to 16 percent.

DEUTZ

The automotive supplier has increased engine sales by nearly a fifth in 2017, Chief Executive Frank Hiller told Welt.

PUMA

Q4 results due. Net profit seen at 7.1 million euros versus a year-earlier loss of 4.6 million. Poll:

The company announced on Friday that it would distribute a one-off dividend of 12.50 euros per share for 2017.

OVERSEAS STOCK MARKETS

Dow Jones +1.4 pct, S&P 500 +1.5 pct, Nasdaq +1.4 pct at close.

Japanese markets closed, Shanghai stocks +0.9 pct.

Time: 6.11 GMT.

GERMAN ECONOMIC DATA

No economic data scheduled.

DIARIES

REUTERS TOP NEWS (Reporting by Christoph Steitz, Edward Taylor and Maria Sheahan)

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