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German stocks - Factors to watch on October 24
October 24, 2017 / 4:54 AM / a month 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 Tuesday:

BASF

Q3 results due. Q3 adjusted EBIT seen up 16 percent at 1.76 billion euros. Poll:

COMMERZBANK

The bank is working with Goldman Sachs and Rothschild in analysing possible M&A scenarios as it braces for potential takeover bids, the Financial Times reported, citing people following the situation.

DEUTSCHE BOERSE

A German court has refused to stop proceedings against Deutsche Boerse’s top executive who is faced with allegations of insider trading over share purchases.

LUFTHANSA, AIR BERLIN

A committee of Air Berlin’s creditors is due to meet to rubberstamp a carve-up of the insolvent carrier.

MUNICH RE

The reinsurer’s asset management unit MEAG said on Monday it has agreed to buy a 49 percent stake in Steag’s district heating business for the Ruhr Basin.

VOLKSWAGEN

Volkswagen’s works council is expected to issue a wage demand for over 100,000 workers in Germany.

Separately, U.S. and California regulators have approved a fix for about 38,000 VW 3.0-liter vehicles with potential excess emissions, a decision that could save the automaker more than $1 billion, according to a letter made public on Monday.

COVESTRO

Q3 results due.

FUCHS PETROLUB

The company has lowered its full-year operating profit guidance on higher raw material costs.

LEONI

The auto supplier said chief executive Dieter Belle will retire early on Jan. 31, 2018 and his successor will be appointed soon.

AIXTRON

The Committee on Foreign Investment in the U.S. approved Aixtron’s sale of its ALD/CVD memory product line.

MORPHOSYS

The group received FDA breakthrough therapy designation for its antibody MOR208 in relapsed/refractory DLBCL.

CEWE

The firm has acquired online printing company Laserline and kept a forecast for group Ebit of 45-51 million euros.

PUMA

Full Q3 results due. The sportswear company raised its guidance for 2017 sales and operating earnings for the third time this year on Oct. 18, reporting strong than expected sales growth for the third quarter.

ANALYSTS’ VIEWS

ADIDAS - Wedbush starts with “neutral”

OVERSEAS STOCK MARKETS

Dow Jones -0.2 pct, S&P 500 -0.4 pct, Nasdaq -0.6 pct at close.

Nikkei +0.1 pct, Shanghai stocks +0.1 pct.

Time: 0453 GMT.

GERMAN ECONOMIC DATA

German October flash PMIs due at 0730 GMT. Manufacturing PMI seen at 60.0 points vs 60.6, Services PMI flat at 55.6, composite PMI at 57.6 vs 57.7.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Andreas Cremer and Christoph Steitz)

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