FRANKFURT, Nov 27 (Reuters) - The following are some of the factors that may move German stocks on Monday:
The insurer is eyeing further acquisitions to expand its asset management business, the head of Allianz Global Investors, Andreas Utermann, told Welt am Sonntag weekly.
The German car industry risks running short of key raw materials for automotive batteries, hampering a planned boost in production of electric vehicles, a raw materials expert at industry association BDI was quoted as saying in Sunday paper Welt am Sonntag.
Separately, BMW plans to raise its spending on research and development to 6.5 to 7 percent of sales in 2018, compared with its target of 5.5 percent, finance chief Nicolas Peter told Handelsblatt daily, adding R&D spending would remain high in 2019.
Also, cooperation of Volkswagen’s luxury brands Porsche, Bentley and Bugatti is going better than expected, with synergies exceeding a target of 100 million euros a year by more than half, Porsche CEO Oliver Blume told Automobilwoche.
E.ON Chairman Karl-Ludwig Kley backed CEO Johannes Teyssen’s plan to sell the group’s 47 percent stake in Uniper to Fortum , saying in a Handelsblatt interview: “Of course there are alternatives... But this is the best solution. We intensively looked at that on the supervisory board.”
The industrial gases group said late on Friday it had received approval from 90 percent of its shareholders for its planned $80 billion tie-up with Praxair.
The engineering group’s managers and labour leaders have struck a conciliatory tone as they seek to resolve a dispute over job cuts resulting from a planned merger of its steel operations with those of India’s Tata Steel.
Swiss bank UBS has formed a team to look into strategic options such as buying parts of Commerzbank, Neue Zuercher Zeitung am Sonntag cited a source as saying.
The national carrier rebuffed accusations of unduly hiking fares after the collapse of smaller rival Air Berlin.
Airbus has provisionally tapped the head of Rolls-Royce’s civil engines unit, Eric Schulz, to head its commercial jetliner sales, resolving months of uncertainty over who would succeed soon-to-retire John Leahy in one of the industry’s most high-profile posts, three people familiar with the matter said.
The group reported nine-month financial results, with FFO I up by 80 percent compared with the year-earlier period.
Q3 results due.
The group published fourth-quarter financial results and announced new longer-term targets through 2025.
BVB - 0.06 eur/shr dividend proposed
SCOUT24 - Jefferies assumes coverage with “buy” rating, 40.20 euros price target
Dow Jones +0.1 pct, S&P 500 +0.2 pct, Nasdaq +0.3 pct at close.
Nikkei -0.2 pct, Shanghai stocks -0.9 pct.
Time: 6.27 GMT.
No economic data scheduled.
REUTERS TOP NEWS (Reporting by Douglas Busvine, Ludwig Burger and Maria Sheahan)