May 22, 2019 / 4:49 AM / 4 months ago

German stocks - Factors to watch on May 22

BERLIN/FRANKFURT, May 22 (Reuters) - The following are some of the factors that may move German stocks on Wednesday:

DAIMLER

The maker of Mercedes-Benz cars is due to hold its AGM (0800 GMT) as incoming CEO Ola Kaellenius is seeking cost cuts and is aiming to intensify alliances with rivals. bit.ly/2JQmTo2

Separately, Fitch affirmed Daimler’s long-term rating and upgraded the short-term rating.

DEUTSCHE BOERSE

The Executive Board of the stock exchange operator is due to present the group's strategy at its Investor Day event (1000 GMT) in London. Webcast: bit.ly/2EmncTY

THYSSENKRUPP

The supervisory board unanimously approved Chief Executive Guido Kerkhoff’s overhaul strategy, including a plan to list its prized elevators unit, the conglomerate said.

VOLKSWAGEN

Volkswagen truck brand Scania said it will invest 1.4 billion reais (310 million euros) to modernise its Brazilian factory near Sao Paulo.

COMMERZBANK

The lender is due hold its AGM (0800 GMT) amid questions by shareholders about Commerzbank's future after merger talks with Deutsche Bank collapsed. Livestream of speeches: bit.ly/2LUBwJI

UNIPER

The E.ON spin-off is due to hold its AGM (0800 GMT) after its largest shareholder Fortum made progress in talks over cooperation. Webcast: bit.ly/2Yyn8sa

Fortum CEO Pekka Lundmark told Handelsblatt his company is interested in Uniper as a whole while declining to comment on the question of whether Fortum aims to acquire a majority stake.

DELIVERY HERO

The company issued 1.12 million new shares through an accelerated bookbuilding and set the placement price at 40.35 euros, it said.

1&1 DRILLISCH

Shareholders approved a statutory minimum dividend of 5 cents per share to ensure the company can buy 5G spectrum until the end of Germany’s 5G auction.

AIRBUS

Airbus hinted at a price battle and imminent aircraft revamp to counter a possible new Boeing mid-sized jet, promising a “left hook, right hook” from two of its established models.

Separately, the company is in discussions to try to find solutions to a row with the German government over a ban on arms exports to Saudi Arabia that threatens a border security contract, CEO Guillaume Faury said.

ADO PROPERTIES

Q1 results due

ANNUAL GENERAL MEETINGS

DAIMLER - 2.86 eur/shr dividend proposed

AAREAL BANK - 2.10 eur/shr dividend proposed

ALSTRIA OFFICE REIT - 0.52 eur/shr dividend proposed

COMMERZBANK - 0.20 eur/shr dividend proposed

MORPHOSYS

SYMRISE - 0.90 eur/shr dividend proposed

UNIPER - 0.90 eur/shr dividend proposed

ADVA OPTICAL NETWORKING

KOENIG & BAUER - 1.00 eur/shr dividend proposed

PATRIZIA IMMOBILIEN - 0.27 eur/shr dividend proposed

VOSSLOH - 1.00 eur/shr dividend proposed

EX-DIVIDEND

1&1 DRILLISCH - 0.05 eur/shr dividend

NORMA GROUP - 1.10 eur/shr dividend

TELEFONICA DEUTSCHLAND - 0.27 eur/shr dividend

TLG IMMOBILIEN - 0.91 eur/shr dividend

OVERSEAS STOCK MARKETS

Dow Jones +0.8 pct, S&P 500 +0.8 pct, Nasdaq +1.1 pct at close.

Nikkei +0.2 pct, Shanghai stocks unchanged.

Time: 4:44 GMT

GERMAN ECONOMIC DATA

No major economic data scheduled

DIARIES

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

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