October 11, 2018 / 4:50 AM / 11 days ago

German stocks - Factors to watch on Oct. 11

BERLIN, Oct 11 (Reuters) - The following are some of the factors that may move German stocks on Thursday:

BREXIT

German Chancellor Angela Merkel on Wednesday welcomed progress in negotiations on a Brexit deal and said she wanted a close relationship with Britain after it leaves the European Union, especially on security matters.

ECONOMY

German government economic forecasts due. A document seen by Reuters showed on Wednesday that the government will cut its forecasts for this year and next.

BAYER

Bayer AG’s Monsanto unit on Wednesday received a tentative ruling for a new trial on the $250 million in punitive damages awarded by a jury to a groundskeeper who alleged the company’s glyphosate-based weed killers, including Roundup, caused his cancer.

BMW

Germany’s BMW said it will take majority control of its main China joint venture for 3.6 billion euros ($4.2 billion), the first such move by a global carmaker as Beijing starts to relax ownership rules for the world’s biggest auto market.

VOLKSWAGEN

Chief executive Herbert Diess warned in a German newspaper interview that the planned environmental regulations could have dire consequences, including severe job losses.

GEA

The company said late on Wednesday that earnings in 2018 were likely to fall short of expectations, saying it now expected annual revenues of around 4.8 billion euros and EBITDA of around 540 million euros.

GERRESHEIMER

Q3 results due. Core profit seen down 2.6 percent.

SUEDZUCKER

Fiscal Q2 results due. Europe’s largest refiner had already cut its full year earnings forecast in September.

SGL CARBON

Capital Markets Day due.

IPO

German brake systems maker Knorr-Bremse on Wednesday set the final offer price for shares in its initial public offering at 80.00 euros per share, in one of this year’s biggest listings in Germany.

OVERSEAS STOCK MARKETS

Dow Jones -3.2 pct, S&P 500 -3.3 pct, Nasdaq -4.1 pct at close.

Nikkei -4.4 pct, Shanghai stocks -4.3 pct.

Time: 4.48 GMT.

GERMAN ECONOMIC DATA

No economic data scheduled.

DIARIES

REUTERS TOP NEWS (Reporting by Berlin Speed Desk)

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