May 24, 2019 / 4:52 AM / 3 months ago

German stocks - Factors to watch on May 24

BERLIN/FRANKFURT, May 24 (Reuters) - The following are some of the factors that may move German stocks on Friday:

DEUTSCHE TELEKOM TELEFONICA DEUTSCHLAND

Germany’s auction of frequencies for fifth-generation mobile services, now into its 10th week, has drawn 6 billion euros ($6.7 billion) in bids so far.

Separately, Pennsylvania’s Public Utility Commission on Thursday approved Telekom’s U.S. unit T-Mobile’s $26 billion purchase of rival Sprint Corp, bringing the megamerger one step closer to completion.

DEUTSCHE BANK

Deutsche Bank Chairman Paul Achleitner on Thursday survived an effort to remove him from office.

The bank, whose CEO has announced ambitious cuts at Thursday’s annual general meeting, is planning reductions at its U.S. equities business, including prime brokerage and equity derivatives, four sources familiar with the matter told Reuters.

SYMRISE

Company places 1.25% coupon bond over 500 mln euros

EX-DIVIDEND

DEUTSCHE BANK - 0.11 eur/shr dividend

LANXESS - 0.90 eur/shr dividend

AUDI - 4.80 eur/shr dividend

SALZGITTER - 0.55 eur/shr dividend

UNITED INTERNET - 0.11 eur/shr dividend

WACKER CHEMIE - 2.50 eur/shr dividend

PFEIFFER VACUUM - 2.30 eur/shr dividend

OVERSEAS STOCK MARKETS

Dow Jones -1.1 pct, S&P 500 -1.2 pct, Nasdaq -1.6 pct at close.

Nikkei -0.5 pct, Shanghai stocks unchanged.

Time: 4:48 GMT.

GERMAN ECONOMIC DATA

No economic data scheduled.

DIARIES

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

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