May 11, 2018 / 5:12 AM / 12 days ago

German stocks - Factors to watch on May 11

FRANKFURT, May 11 (Reuters) - The following are some of the factors that may move German stocks on Friday:

U.S./IRAN

Having returned from North Korea on Thursday, Secretary of State Mike Pompeo will begin talks in coming days to persuade allies in Europe, the Middle East and Asia to press Iran to return to negotiations over its nuclear and missile programs, U.S. officials said.

ADIDAS

A U.S. appeals court on Thursday said Adidas AG can protect its famous Stan Smith tennis shoe against an alleged Skechers USA Inc knockoff, but that Skechers could sell another shoe mimicking Adidas’ familiar “three-stripe” design.

E.ON, RWE, INNOGY

The management and supervisory boards of German energy group Innogy refrained from giving a recommendation to its minority shareholders on a pending takeover offer from rival E.ON, Innogy said in a statement.

Separately, the management of E.ON, RWE and Innogy is due to meet with trade unions on Friday to discuss the deal’s impact on jobs, with labour sources saying that a basic framework agreement could be reached.

FRESENIUS

The group would not take a long-term financial hit if a U.S. court forced it to go through with the acquisition of Akorn at the originally agreed price, Frankfurter Allgemeine Zeitung cited a spokesman for Fresenius as saying.

HENKEL

The group agreed to buy Canadian laundry and home care products maker JemPak Corp from Acasta Enterprises Inc for 118 million Canadian dollars ($92.45 million) on a cash and debt free basis.

LUFTHANSA

Monthly traffic figures due at 1100 GMT.

THYSSENKRUPP

Thyssenkrupp plans to make smaller acquisitions to expand its elevators business, management board member Andreas Schierenbeck told WirtschaftsWoche in an interview.

VOLKSWAGEN

German Transport Minister Andreas Scheuer urged former Volkswagen CEO Martin Winterkorn to help clear up the Dieselgate affair. Speaking to Handelsblatt, he however ruled out the imposition of tough sanctions against auto makers found to have manipulated emissions tests.

OSRAM

Q2 financial report due. The group already published preliminary results on May 3.

TALANX

Q1 results due. Net profit seen down 5 percent at 227 million euros. Poll:

ZALANDO

Zalando said it would launch a 50 million euro ($59 million) share buyback to cover its management stock option programmes.

STEINHOFF

South African retailer Steinhoff said that an investigation by auditors PwC has found that the overstatement of its profits may result in additional material impairments, sending its shares more than 13 percent lower.

NFON

Shares in NFON due to start trading on the Frankfurt stock exchange. The issue price was set at 12 euros per share.

ANALYSTS’ VIEWS

UNIPER - HSBC cuts to “reduce” from “hold”, cuts price target to 24 euros from 25 euros

OVERSEAS STOCK MARKETS

Dow Jones +0.8 pct, S&P 500 +0.9 pct, Nasdaq +0.9 pct at close.

Nikkei +1.0 pct, Shanghai stocks -0.1 pct.

Time: 5.11 GMT.

GERMAN ECONOMIC DATA

No economic data scheduled.

DIARIES

REUTERS TOP NEWS ($1 = 1.2763 Canadian dollars) (Reporting by Douglas Busvine and Maria Sheahan)

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