January 2, 2018 / 6:00 AM / 6 months ago

German stocks - Factors to watch on January 2

FRANKFURT, Jan 2 (Reuters) - The following are some of the factors that may move German stocks on Tuesday:

DEUTSCHE BANK

Deutsche Bank will resume the payment of normal bonuses for 2017, CEO John Cryan told Boersen-Zeitung in an interview published on Saturday, and some employees will get raises.

LUFTHANSA

British Airways’ owner IAG said on Friday it would buy Niki, Air Berlin’s insolvent Austrian holiday airline, for 20 million euros ($24 million) and provide additional liquidity to the company of up to 16.5 million euros.

Separately, Brussels Airlines, a unit of Lufthansa, plans to cut its costs by between 10 and 15 percent in the coming years in order to remain competitive with low-cost rivals, its chief executive told Belgian daily De Tijd in an interview published on Saturday.

INFINEON

The German chipmaker does not see itself as vulnerable to a takeover despite mega-mergers in the sector led by Broadcom’s $103 billion offer for Qualcomm, its chief executive told Germany’s Boersen-Zeitung.

SIEMENS

Siemens will test the appetite of sovereign wealth funds ahead of the planned listing of its healthcare unit Healthineers next year, its chief executive told a German weekly, possibly to secure anchor investors for the flotation.

VOLKSWAGEN

Germany’s highest court has rejected a bid by Volkswagen AG to suspend the work of a special auditor appointed to investigate management’s actions in the “Dieselgate” emissions scandal.

Separately, Swiss consumer protection organisation SKS filed a claim with the Zurich commercial court on behalf of some 6,000 car owners seeking damages from Volkswagen and Swiss car dealer AMAG related to the “Dieselgate” emissions scandal.

LEG IMMOBILIEN

LEG Immobilien expects residential rent to go up by an average 3 to 3.5 percent annually over the next few years, its chief executive told Welt am Sonntag.

UNIPER

Uniper’s CEO critised Finnish suitor Fortum in a Rheinische Post interview on Saturday for a lack of clarity about its intentions in a planned 8 billion-euro takeover of the company.

ANALYSTS’ VIEWS

BMW - Evercore ISI cuts to “in line” from “outperform”

OVERSEAS STOCK MARKETS

Dow Jones -0.5 pct, S&P 500 -0.5 pct, Nasdaq -0.7 pct at close.

Japanese markets closed, Shanghai stocks +1.0 pct.

Time: 5.58 GMT.

GERMAN ECONOMIC DATA

German Markit manufacturing PMI due at 0855 GMT. Seen unchanged at 63.3 points.

DIARIES

REUTERS TOP NEWS (Reporting by Tom Sims, Georgina Prodhan, Christoph Steitz and Maria Sheahan)

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