March 2, 2018 / 6:12 AM / 3 months ago

German stocks - Factors to watch on March 2

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

CYBER ATTACK

Germany’s government was marshalling its defences on Thursday against a powerful cyber attack that lawmakers said had breached the foreign ministry’s computer network and whose origins officials admitted were still unclear.

ECB

European Central Bank policymakers are likely to discuss a small tweak in their communication stance at their March 8 meeting but no major policy shift is expected, three sources with direct knowledge of the discussion said.

BREXIT

British Prime Minister Theresa May will set out her vision on Friday for a Brexit deal deeper and wider than any “free trade agreement anywhere in the world”, telling the European Union it is in their “shared interest”.

AUTOS

Volkswagen of America posted a 6 percent rise in the number of units sold in February from a year earlier. BMW was up 7.5 percent. Mercedes-Benz USA reported 1 percent rise.

German monthly vehicle sales expected on Friday.

Fitch said a German court ruling that cities can impose restrictions on diesel vehicles “sets stage for diesel car bans”.

Also, how Geely’s Li Shufu spent months stealthily building a $9 billion stake in Daimler.

Separately, Volkswagen’s lawyers said in a submission to a German court reviewed by Reuters that the company’s bosses missed warning signs ahead of its diesel emissions scandal, but did not break market rules by delaying the disclosure of its problems.

DEUTSCHE BANK

Postbank had a good start to the year 2018, its chief Frank Strauss told Handelsblatt. He also said the bank had reversed a decline in customers in the fourth quarter and had seen a small net increase.

INFINEON

SAIC Motor Corporation and Infineon are setting up a joint venture to make power modules for the Chinese electric vehicle market.

LUFTHANSA

The German carrier and its Eurowings unit are expected to have an 87 percent market share on domestic flights this summer, up from 70 percent a year earlier, according to a study reported in Friday’s Rheinische Post newspaper.

LINDE

Linde and Praxair have started the sale of European and U.S. industrial gas assets that may fetch about $8 billion, Bloomberg reported, citing people with knowledge of the matter.

THYSSENKRUPP, SALZGITTER

U.S. President Donald Trump said on Thursday the United States would impose tariffs of 25 percent on steel imports and 10 percent on imported aluminum next week.

The German steel association said the decision to impose import tariffs on steel violates the rules of the World Trade Organization.

Also, Thyssenkrupp plans to add more than 1,000 jobs in its automotive supply business, the division’s chief Karsten Kroos told Westdeutsche Allgemeine Zeitung.

ALSTRIA OFFICE REIT

Management proposed a dividend of 0.52 euro per share for 2017, the company announced on Thursday.

BILFINGER

Bilfinger could seek significantly more than 100 million euros ($123 million) in damages from former executives, Frankfurter Allgemeine Zeitung reported, citing no sources.

HOCHTIEF

Australian subsidiary CIMIC said that its unit UGL had established a Program Agreement for the continued sustainment of the Royal Australian Navy’s ANZAC Class Frigates.

EX-DIVIDEND

AURUBIS - dividend 1.45 euros/shr

ANALYSTS’ VIEWS

BASF - CFRA raises price target to 93 euros from 90 euros.

OVERSEAS STOCK MARKETS

Dow Jones -1.7 pct, S&P 500 -1.3 pct, Nasdaq -1.3 pct at close.

Nikkei -2.5 pct, Shanghai stocks -0.7 pct.

Time: 6.11 GMT.

GERMAN ECONOMIC DATA

German January import prices due at 0700 GMT. Seen +0.5 pct m/m, +0.7 pct y/y.

German January retail sales also due at 0700 GMT. Seen +0.9 pct m/m, +3.5 pct y/y.

DIARIES

REUTERS TOP NEWS ($1 = 0.8151 euros) (Reporting by Tom Sims and Maria Sheahan)

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