July 8, 2019 / 5:43 AM / 13 days ago

German stocks - Factors to watch on July 8

BERLIN/FRANKFURT, July 8 (Reuters) - The following are some of the factors that may move German stocks on Monday:

DEUTSCHE BANK

Deutsche Bank is to axe vast swathes of its trading desks in one of the biggest overhauls to an investment bank since the aftermath of the financial crisis, in a restructuring that will see 18,000 jobs go and cost 7.4 billion euros.

Deutsche Bank will post a loss in 2019 due to restructuring costs, its Chief Executive Officer Christian Sewing told broadcaster Hessischer Rundfunk in an interview published on Sunday.

BMW

BMW wants to quickly appoint a successor for CEO Harald Krueger, Handelsblatt reported on Monday, adding that a new boss for the carmaker should be on stage at the industry fair IAA in September.

COMMERZBANK

Commerzbank wants to present a new member for corporate clients on Thursday, Handelsblatt reported on Monday, adding that the supervisory board would address the succession of Michael Reuther at an extraordinary meeting on that day.

OSRAM

Private equity firms Bain and Carlyle which have made a takeover bid for German lighting group Osram, are ready for acquisitions if plans go well, Handelsblatt reported on Monday, adding that there was already a list of potential acquisition targets.

FUCHS PETROLUB

The company warned on Friday that it wouldn’t be able to reach its full-year sales and profit forecasts.

DEUTSCHE TELEKOM

Plans for a joint venture between DT and regional utility EWE to lay a high-speed fibre optic network in north-west Germany have been delayed, the Frankfurter Allgemeine reported on Saturday. The two companies have requested a month’s extension to Sept. 21 to satisfy competition authorities’ concerns about the project.

FRAPORT

The airports operator expects the first dividends from its Greek acquisitions in 2022, its division head for the country told Welt am Sonntag newspaper. The company has run 14 regional airports in Greece since 2017. Alexander Zinell, the division head, said positive returns on the investment of around 1.6 billion euros would be “very realistic” between 2027 and 2033.

LOEWE

There are already 10 offers on the table for Loewe, the insolvent consumer electronics maker’s administrator told Welt am Sonntag. Ruediger Weiss said he was optimistic that a buyer would be found by October.

Ex-dividend

Hornbach Holding: 1.50 euros/shr dividend

ANALYSTS’ VIEWS

DEUTSCHE BANK: Moody’s affirms Deutsche Bank AG’s ratings, maintains negative outlook

DEUTSCHE WOHNEN SE: Jefferies raises to “buy” from “hold”

ADO PROPERTIES SA: Jefferies raises to “buy” from “hold”

TRATON SE: Jefferies initiates with “hold”

OVERSEAS STOCK MARKETS

Dow Jones -0.2 pct, S&P 500 -0.2 pct, Nasdaq -0.1 pct at close.

Nikkei -1.1 pct, Shanghai stocks -2.5 pct.

Time: 5:43 GMT.

GERMAN ECONOMIC DATA

May industrial output due at 0600 GMT. Seen +0.4% m/m.

May trade data due at 0600 GMT. Exports seen at +0.5%m imports +0.3%. Trade surplus seen at 17.0 billion euros.

DIARIES

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

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below