October 15, 2018 / 4:50 AM / a month ago

German stocks - Factors to watch on Oct. 15

BERLIN, Oct 15 (Reuters) - The following are some of the factors that may move German stocks on Monday:

BAVARIA ELECTION

Chancellor Angela Merkel’s Bavarian allies suffered their worst election result since 1950 on Sunday, bleeding votes to the far-right and the ecologist Greens in a setback that raised tensions within Germany’s crisis-prone national government.

BANKS

Moody’s said it has kept its outlook on Germany’s banking sector at “stable”, reflecting their strong capital and high loan quality.

BMW

Plans to raise its stake in BMW Brilliance is credit positive, Moody’s said on Friday. Financing the 3.6 billion euros purchase will not affect BMW’s credit metrics, it said.

LUFTHANSA

Lufthansa Cityline and Vereinigung Cockpit agreed on new employment conditions for 650 pilots, including a moderate pay hike for the next three years and adapting pension plans to same terms as Lufthansa’s mainline staff.

RWE

The German utility might have to cut jobs at its Hambach site following a court ruling that will delay plans to expand the mine by clearing an ancient forest, its chief executive was quoted as saying on Saturday.

PROSIEBENSAT.1

The chief executive of ProSiebenSat.1 wants to double the market value of the German broadcaster in the next three to five years, he was quoted as telling a newspaper on Sunday.

HOCHTIEF

Hochtief’s Australian subsidiary Cimic said its Thiess division secured a A$1.2 billion contract from BHP to provide mining services at the Mt Arthur coal operation.

CECONOMY

Europe’s biggest consumer electronics retailer said its chief executive will leave with immediate effect and it will also look for a new finance chief after its shares tumbled on a string of profit warnings. Ceconomy also concluded a share buyback at 5.995 euros a share.

QINGDAO HAIER

Hong Kong-listed shares in the Chinese home appliance maker slumped after it announced on Friday the price of its D-shares that will be issued in Germany.

OVERSEAS STOCK MARKETS

Dow Jones +1.2 pct, S&P 500 +1.4 pct, Nasdaq +2.3 pct at close.

Nikkei -1.6 pct, Shanghai stocks -0.8 pct.

Time: 4.49 GMT.

GERMAN ECONOMIC DATA

No economic data scheduled.

DIARIES

REUTERS TOP NEWS (Reporting by Berlin Speed Desk)

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