October 11, 2019 / 4:52 AM / 8 days ago

German stocks - Factors to watch on October 11

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

DEUTSCHE BANK

The lender says it does not have copies of U.S. President Donald Trump’s tax returns, a U.S. appeals court said on Thursday, closing one possible avenue for the Democratic-led U.S. House of Representatives to obtain the returns.

E.ON, INNOGY

As part of E.ON’s takeover of Innogy, E.ON Management Board member Leonhard Birnbaum will also take on the role of Innogy chief executive officer, E.ON said.

LUFTHANSA

September traffic figures due.

SAP

Bill McDermott stood down as CEO on Friday, handing the task of completing SAP’s transition to cloud computing to new co-CEOs Jennifer Morgan and Christian Klein.

Separately, the company pre-released a strong set of third-quarter results early on Friday, lifted by a major cloud-computing deal, and reaffirmed its guidance for double-digit growth this year.

DEUTSCHE TELEKOM

A Fox reporter tweeted more state attorney generals will follow Mississippi AG in dropping out of a suit to block the merger between Telekom’s U.S. unit T-Mobile and Sprint, lifting their shares on Thursday.

HUGO BOSS

The German fashion group cut its 2019 earnings forecast again, citing weak demand in the United States and Hong Kong, and reported third quarter results that were below its expectations.

THYSSENKRUPP

Thyssenkrupp’s largest shareholder on Thursday dismissed speculation that it had backed calls for a special dividend.

ANALYSTS’ VIEWS

VOLKSWAGEN - Goldman Sachs initiates coverage with “BUY” rating

OVERSEAS STOCK MARKETS

Dow Jones +0.6%, S&P 500 +0.6%, Nasdaq +0.6% at close.

Nikkei +1.1%, Shanghai stocks +0.4%.

Time: 4:47 GMT

GERMAN ECONOMIC DATA

German final inflation data for September due at 0600 GMT. HICP seen at 0.9% y/y.

DIARIES

REUTERS TOP NEWS (Reporting by Berlin Speed Desk and Frankfurt Newsroom)

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