BERLIN/FRANKFURT, Nov 8 (Reuters) - The following are some of the factors that may move German stocks on Friday:
The U.S. Justice Department has issued civil subpoenas to four major automakers, demanding that they disclose details on a deal struck with California in July to follow strict vehicle emissions standards, a source briefed on the matter said on Thursday.
Trial production has started at Volkswagen AG’s (VW) and SAIC Motor Corp Ltd’s $2.5 billion electric vehicle (EV) factory in Shanghai, VW’s chief executive said on Friday, the latest development in the race to sell EVs in China.
Citigroup Inc and Deutsche Bank AG may cross-examine four antitrust investigators involved in a criminal cartel prosecution against them, an Australian court ruled on Friday, a win for the defence in a closely watched legal battle.
Brazilian planemaker Embraer SA said on Thursday it had appointed ThyssenKrupp executive Antonio Carlos Garcia as chief financial officer.
Separately, Moody’s announced the completion of a periodic review of ratings of Thyssenkrupp.
The company adjusted its forecast for the fiscal year 2019 and now expects a slight decline in sales in the low single-digit percentage range compared to 2018.
Poland’s anti-monopoly authority said it would impose a significant fine on Friday as part of proceedings against Russia’s Gazprom and five European firms responsible for financing the planned Nord Stream 2 natural gas pipeline.
The company said it had placed hybrid capital with a total volume of 1.75 billion euros. [placed hybrid capital with a total volume of 1.75 billion euros.]
German insurer Allianz on Friday posted a better than expected 0.6% rise in net profit in the third quarter from a year earlier and said 2019 operating profit would be in the upper half of its targeted range.
The company said earnings before interest, taxes, depreciation and amortisation (EBITDA) dropped 4.9% to 97.5 miilion euros in the first nine months of 2019.
Capital market day due.
The bank raised its guidance for full year 2019 to a pre-tax profit between 205 and 215 million euros.
SCOUT24 AG: JP Morgan cuts to “neutral” from “overweight”
OVERSEAS STOCK MARKETS
Dow Jones +0.7%, S&P 500 +0.3%, Nasdaq +0.3% at close.
Nikkei +0.2%, Shanghai stocks unchanged.
Time: 6:16 GMT
GERMAN ECONOMIC DATA
German September trade balance due at 0700 GMT. Exports seen +0.4%, imports unchanged, trade balance at 18.1 billion euros.
EUROPEAN FACTORS TO WATCH
REUTERS TOP NEWS (Reporting by Berlin Speed Desk and Frankfurt Newsroom)
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