October 24, 2019 / 4:58 AM / 24 days ago

German stocks - Factors to watch on October 24

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

ECB

Mario Draghi may be the man who saved the euro but his last press conference as President of the European Central Bank on Thursday is unlikely to be the grand finale he was hoping for.

AUTOS, TRUCKS

Handelsblatt auto conference takes place in Stuttgart with Daimler CEO Ola Kaellenius, Volkswagen executive board member Stefan Sommer and the head of Germany’s VDA lobby group, Bernhard Mattes, among the speakers.

Separately, Daimler’s third-quarter results due. Operating profit seen a 2.5 billion euros. Poll:

In addition, hearings in a Munich lawsuit are due to start in which a transport business association is seeking billion-euro indemnities from truck makers including Daimler and Traton brands, accusing them of having formed a cartel.

BASF

Third-quarter results due. Sales seen at 15.11 billion euros ($16.79 billion).

LINDE

Industrials gases group Linde plans to cut more than 11% of its German workforce following its merger with U.S. rival Praxair, a person familiar with the plans told Reuters.

KION

Quarterly results due.

METRO

Quarterly results due.

DIALOG SEMICONDUCTOR

The chip designer said it expected to post around a $409 million revenue in the third quarter, higher than it originally forecast.

PUMA

Quarterly results due. Sales in the third-quarter seen at 1.45 billion euros.

SILTRONIC

Quarterly results due.

AIXTRON

Quarterly results due.

CECONOMY

The group said it expects EBIT and EBITDA in 2018/19 to be on the prior year’s level.

TELEFONICA DEUTSCHLAND

The group extended the contract of its CFO until July 2023.

WACKER CHEMIE

Quarterly results due.

TAKKT

The group now expects its EBITDA margin to come in at the lower end of its guidance.

OVERSEAS STOCK MARKETS

Dow Jones +0.2%, S&P 500 +0.3%, Nasdaq +0.2% at close.

Nikkei +0.6%, Shanghai stocks -0.2%.

Time: 4:54 GMT

GERMAN ECONOMIC DATA

Markit October flash PMI data due at 0730 GMT. Manufacturing seen at 42.0, services at 52.0, composite at 48.8.

DIARIES

REUTERS TOP NEWS ($1 = 0.8997 euros) (Reporting by Berlin Speed Desk and Frankfurt Newsroom)

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