October 24, 2018 / 4:55 AM / 2 months ago

German stocks - Factors to watch on Oct. 24

BERLIN, Oct 24 (Reuters) - The following are some of the factors that may move German stocks on Wednesday:

CARMAKERS

An administrative court in Mainz is due to rule on a case brought against the state of Rhineland-Palatinate by environmental lobby group DUH calling for a ban of diesel vehicles in the western German city of Mainz, near financial centre Frankfurt.

DEUTSCHE BANK

Deutsche Bank posted a 65 percent decline in net profit in the third quarter, it said on Wednesday, as Germany’s largest bank restructures under new leadership.

SIEMENS

Siemens and Alstom will receive a warning this week from European Union antitrust regulators that their plan to create a Franco-German rail champion will hurt competition, a person familiar with the matter said on Tuesday.

DWS GROUP

The group affirmed guidance for 2018 revenues to fall short of the year-earlier level as it reported third-quarter results.

KLOECKNER & Co

Q3 financial results due. EBITDA seen up 34 percent.

KWS SAAT SE

Full year financial results due.

PORSCHE

A court in the German city of Stuttgart is expected to rule on a case brought against Porsche SE by investors who argue that the holding company did not disclose the financial risks of VW’s emissions scandal quickly enough when it emerged in 2015.

VAPIANO

The group raised gross proceeds of 20.3 million euros in a capital increase.

OVERSEAS STOCK MARKETS

Dow Jones -0.5 pct, S&P 500 -0.6 pct, Nasdaq -0.4 pct at close.

Nikkei +0.5 pct, Shanghai stocks +1.5 pct.

Time: 4:55 GMT.

GERMAN ECONOMIC DATA German October Markit flash PMI due at 0730 GMT. Manufacturing PMI seen at 53.4 vs 53.7, Services PMI at 55.5 vs 55.9, Composite at 54.8 vs 55.0.

DIARIES

REUTERS TOP NEWS (Reporting by Berlin Speed Desk)

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