January 14, 2020 / 5:45 AM / 5 days ago

German stocks - Factors to watch on January 14

BERLIN/FRANKFURT, Jan 14 (Reuters) - The following are some of the factors that may move German stocks on Tuesday:

EVONIK

The chemical maker’s controlling shareholder, the RAG foundation, said late on Monday it was selling a 5.2% stake in Evonik in an accelerated bookbuild offering, cutting its stake to 59.1%, but pledged to remain a significant investor. Evonik’s CEO reiterated the guidance for 2019.

SUEDZUCKER

Suedzucker, Europe’s largest sugar refiner, posts third-quarter earnings as the extremely tough trading environment continues with sugar prices still low but increased demand for the green fuel bioethanol expected to provide some relief.

QIAGEN

Qiagen said it agreed with U.S. Amgen to develop tissue-based companion diagnostics for Amgen’s investigational cancer treatment AMG 510.

HELLA

H1 results due.

ANALYSTS’ VIEWS

RWE AG: RBC cuts to “outperform” from “top pick”; cuts target price to 32 euros from 34 euros

BEIERSDORF AG: SOCGEN cuts to “sell” from “hold”; cuts price target to 99 euros from 110 euros

OVERSEAS STOCK MARKETS

Dow Jones +0.3%, S&P 500 +0.7%, Nasdaq +1.0% at close.

Nikkei +0.7%, Shanghai stocks -0.2%.

Time: 6:59 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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