October 4, 2017 / 5:16 AM / 19 days ago

German stocks - Factors to watch on October 4

FRANKFURT, Oct 4 (Reuters) - The following are some of the factors that may move German stocks on Wednesday:

BASF, SIEMENS

The European Union will host auto, chemical and engineering executives next week -- including members of BASF and Siemens -- to discuss developing battery manufacturing in the bloc to compete with Asian and U.S. manufacturers.

CARMAKERS

Major automakers posted higher U.S. new vehicle sales in September as consumers in hurricane-hit parts of the country replaced flood-damaged cars.

DEUTSCHE TELEKOM

The European Parliament’s Industry committee voted on Monday to limit the regulatory sweeteners given to operators investing in new networks together and gave regulators greater powers to force companies to give rivals access to their networks.

FRESENIUS

New York-based Senvest Management is shorting three drug stocks, including Fresenius SE, its Chief Executive Richard Mashaal said on Tuesday.

MERCK KGAA

French police searched German drugmaker Merck KGaA’s plant in Lyon on Tuesday as part of an investigation into complaints by patients about changes to its thyroid drug Levothyrox, a company spokeswoman said.

MUNICH RE

The African arm of Germany’s Munich Re has dropped KPMG as its auditor, the latest company to distance itself from the accountancy firm entangled in a scandal involving friends of South African President Jacob Zuma.

THYSSENKRUPP

The steel and engineering group will guarantee that workers will be equally represented following the planned merger of its European steel operations with Tata Steel‘s, its chief executive told a German newspaper.

LANXESS

The specialty chemicals group on Tuesday said it would stop production at its Ankerweg site in the Netherlands, where it makes base oils for industrial lubricants, by no later than November 2018.

WACKER CHEMIE

Capital markets day

ANALYSTS’ VIEWS

MERCK - Invest Securities raises to “buy” from “neutral”

THYSSENKRUPP - Barclays cuts to “underweight” from “equal weight”

TELEFONICA DEUTSCHLAND - RBC cuts to “underperform” from “outperform”

OVERSEAS STOCK MARKETS

US markets closed.

Nikkei -0.1 pct, Chinese markets closed.

Time: 5.13 GMT.

GERMAN ECONOMIC DATA

German September Markit PMI data due at 0755 GMT. Services PMI seen unchanged at 55.6, composite index seen unchanged at 57.8.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Georgina Prodhan, Christoph Steitz and Ludwig Burger)

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