October 2, 2017 / 5:36 AM / 19 days ago

German stocks - Factors to watch on October 2

FRANKFURT/BERLIN, Oct 2 (Reuters)

The following are some of the factors that may move German stocks on Monday:

DAIMLER

Formula One world champions Mercedes have some “real big problems” to fix with their car, title favourite Lewis Hamilton said on Sunday after finishing second in the Malaysian Grand Prix.

DEUTSCHE BANK

The lender agreed to pay $190 million to settle U.S. litigation accusing it of rigging prices in the roughly $5.1 trillion-a-day foreign exchange market.

DEUTSCHE POST

The logistics group plans to test delivery vans equipped with fuel-cell drives, German magazine Der Spiegel reported, citing executive board member Juergen Gerdes.

Deutsche Post has no plans to increase postage prices next year, chief executive Frank Appel told weekly newspaper Welt am Sonntag.

VOLKSWAGEN

The carmaker’s dealers have received 20,000 orders from people willing to trade in older diesel models for a new Euro-6 car, Automobilwoche reported, citing VW brand sales chief Juergen Stackmann.

Audi said it had resolved a legal dispute with a former engineer who sued the carmaker for wrongful dismissal and re-employment after he was fired amid investigations into the diesel emissions scandal.

Volkswagen of America said most new 2018 vehicles in the United States will come with a 6-year vehicle limited warranty.

HELLA

The automotive supplier is able to spend about 1 billion euros on acquisitions and is pondering purchases in sectors including electronics and sensor technology, Automobilwoche reported, citing the company’s chief executive.

TALANX

Talanx is not certain whether reinsurance prices will start to rise after years of decline but “certainly” sees a stop to price erosion and slight improvements, CEO Herbert Haas told Handelsblatt.

RTL GROUP

The broadcaster plans to hold dividends for this year stable at 4 euros ($4.71), Boersen-Zeitung reported, quoting finance chief Elmar Heggen.

DRILLISCH

The mobile phone service provider’s supervisory board appointed Ralph Dommermuth as new chief executive from Jan. 1, 2018.

KLOECKNER & CO.

The steel distributor said it plans to become more profitable over the next five years, banking on a digitalisation push that includes an increase in online sales.

SCOUT24

The company targets further growth in Europe and is ready to make more acquisitions, Welt am Sonntag reported, citing chief executive Greg Ellis.

CONSTANTIN MEDIEN

The media company has lowered its sales outlook for 2017 after six-month revenue plunged by a quarter, and cancelled a planned sale of its TV channel Sport1.

OVERSEAS STOCK MARKETS

Dow Jones +0.1 pct, S&P 500 +0.4 pct, Nasdaq +0.7 pct at close.

Nikkei +0.2 pct, Chinese markets closed.

Time: 5.33 GMT.

GERMAN ECONOMIC DATA

German September PMI manufacturing index due at 0755 GMT. Seen at 60.6.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS ($1 = 0.8501 euros) (Reporting by Georgina Prodhan and Andreas Cremer)

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