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German stocks - Factors to watch on October 30
October 30, 2017 / 6:15 AM / 22 days ago

German stocks - Factors to watch on October 30

FRANKFURT, Oct 30 (Reuters) - The following are some of the factors that may move German stocks on Monday:

GERMAN ECONOMY

S&P late Friday affirmed Germany’s AAA/A-1+ ratings and said the outlook was stable.

AUTOS

The former chief of Ford-Werke GmbH, Bernhard Mattes, is the favourite to head Germany’s VDA auto industry lobby when the current chief’s contract expires next year, a newspaper reported on Sunday.

Separately, premium unit Audi due to publish Q3 results.

BASF

Two of BASF’s largest rivals in coatings are in talks over a merger. Dutch paints and coatings giant Akzo Nobel has approached U.S. rival Axalta Coating Systems Ltd to discuss a possible merger that would create a global coatings giant, according to sources familiar with the matter.

DEUTSCHE BANK

Investors will reward Deutsche Bank for its cost cutting, a member of the German lender’s management board said in a newspaper interview published on Sunday.

DEUTSCHE BOERSE

The board has a shortlist of potential candidates for chief executive and hopes to make a final decision before the end of the year, the German exchange operator’s chairman said in an interview with a German newspaper published on Sunday.

DEUTSCHE TELEKOM

A strong No. 3 player in the U.S. wireless market would enhance competition, the company’s chief told a German newspaper, as T-Mobile US Inc seeks to merge with Sprint Corp. CEO Timotheus Hoettges also urged the new German government to think twice before selling down its large stake in Deutsche Telekom, according to an interview in Welt am Sonntag.

FRESENIUS MEDICAL CARE

Shareholders of NxStage Medical approved the previously announced merger agreement with Fresenius Medical Care, the companies said on Friday.

LUFTHANSA

The carrier’s chief foresees stable ticket prices after taking over part of the insolvent rival Air Berlin, according to an interview the Bild am Sonntag.

Separately, Britain’s easyJet has strengthened its position in Germany by agreeing to buy part of Air Berlin’s operations at Berlin Tegel airport, ending uncertainty over the fate of the failed airline’s remaining assets.

Air Berlin’s last flight landed in its home city on Friday night, greeted by a traditional water cannon salute and bringing to an end almost four decades of flying.

MUNICH RE

Munich Re’s primary insurance arm Ergo aims to gather non-binding offers for around 6 million life insurance policies in mid-November, Handelsblatt reported on Monday.

SIEMENS

Germany’s economy minister urged Siemens on Friday to rethink planned job cuts and said job losses, particularly in economically weaker areas of the former East Germany, could spur an increase in right-wing populism.

Separately, Handelsblatt daily reported that Siemens aims to cut its annual costs for corporate travel by around 500 million euros to about 1.3 billion euros by using more digital communications technology for internal meetings.

RIB SOFTWARE

Q3 results due.

RATIONAL

The group said it now expects to post 2017 revenue growth of around 13 percent, compared with a previous forecast for 11 to 13 percent, but said its EBIT margin would come only to the bottom end of its forecast range due to currency effects and investments.

HYPOPORT

Q3 results due.

MYNARIC

Shares due to start trading on Frankfurt stock exchange. Issue price has been set at 54 euros per share.

HSH NORDBANK

The owners of Germany’s HSH Nordbank received binding offers from private equity groups Apollo, Cerberus and J.C. Flowers by a deadline on Friday as part of its EU-enforced privatisation, people close to the matter said.

OVERSEAS STOCK MARKETS

Dow Jones +0.1 pct, S&P 500 +0.8 pct, Nasdaq +2.2 pct at close.

Nikkei unchanged, Shanghai stocks -0.9 pct.

Time: 6.11 GMT.

GERMAN ECONOMIC DATA

German September retail sales due at 0600 GMT. Seen +0.5 pct m/m, +3.5 pct y/y.

German preliminary October inflation data due at 1200 GMT. CPI and HICP both seen +0.1 pct m/m, +1.7 pct y/y.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS ($1 = 0.8613 euros) (Reporting by Tom Sims and Maria Sheahan)

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