July 19, 2018 / 5:13 AM / 4 months ago

German stocks - Factors to watch on July 19

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

COMMERZBANK

Germany’s Commerzbank has signed a memorandum of understanding with China’s ICBC to fund $5 billion worth of projects along the so-called silk road, Germany’s Frankfurter Allgemeine Zeitung said on Wednesday.

BASF

BASF has agreed to invest $25 million in Materialise, a Belgian supplier of 3D printing technologies.

DEUTSCHE BANK

Former Deutsche Bank trader Christian Bittar faces sentencing in a London court on Thursday after being convicted of plotting to rig global interest rates.

INNOGY, E.ON, RWE

Innogy said it had reached two legally-binding agreements with E.ON and RWE for a fair integration process as part of its break-up.

SAP

Germany’s SAP announced forecast-beating second quarter results on Thursday and raised its outlook for the full year as growth in its cloud business accelerated.

THYSSENKRUPP

CEO Guido Kerkhoff told employees the conglomerate needs to raise its profitability and restructure its Industrial Solutions and Elevators division to restore credibility with capital markets. The company’s divisions will remain under one roof “for now.”

ZOOPLUS

Preliminary H1 revenues due.

ANNUAL GENERAL MEETINGS

SUEDZUCKER - 0.45 euros/shr dividend proposed

ANALYSTS’ VIEWS

FRESENIUS SE - Deutsche Bank cuts price target to 82 euros from 84 euros; rating “buy”.

ZALANDO SE - Credit Suisse cuts to “neutral” from “outperform.”

OVERSEAS STOCK MARKETS

Dow Jones +0.3 pct, S&P 500 +0.2 pct, Nasdaq unchanged at close.

Nikkei unchanged, Shanghai stocks -0.5 pct.

Time: 5.12 GMT.

GERMAN ECONOMIC DATA

No economic data scheduled.

DIARIES

REUTERS TOP NEWS (Reporting by Edward Taylor and Caroline Copley)

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