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German stocks - Factors to watch on September 25
September 25, 2017 / 5:35 AM / 22 days ago

German stocks - Factors to watch on September 25

FRANKFURT, Sept 25 (Reuters) - The following are some of the factors that may move German stocks on Monday:

GERMAN ELECTIONS

Angela Merkel secured a fourth term as chancellor in Sunday’s election even though her conservatives bled support to the far-right. She is expected to try to build a three-way coalition with the pro-business Free Democrats (FDP) and Greens, which is seen as potentially complicated and unstable.

BMW

BMW plans to build its new 8 series model at its plant in the southern German town of Dingolfing from 2018, strengthening the site’s role in the production of premium models in addition to electric vehicle components, it said on Saturday.

E.ON

The utility’s chief financial officer Marc Spieker told Boersenzeitung on Saturday E.ON had good reason to try and sell its stake in the Uniper unit to Finland’s Fortum after Uniper said the move was unwelcome. He said Fortum had signalled it intended to be a strategic, constructive investor.

LUFTHANSA, AIR BERLIN

Air Berlin board of directors due to meet to discuss the bids for its assets.

The Air Berlin creditor committee expects that the sale may yield between 250 and 300 million euros, German dailies Bild and Berliner Zeitung said on Saturday, citing sources close to the company.

A source familiar with the talks told Reuters on Sunday that a bid price by Lufthansa of 200 million euros to buy Air Berlin plus 100 million euros to meet operating costs to keep the airline going in the interim is roughly correct. This followed a report in Bild am Sonntag to this effect.

SAP

SAP on Sunday said it has agreed to buy online service provider Gigya to strengthen its position in helping companies build online relationships with their customers. Israeli media had said the purchase prices was $350 million, saying both Gigya and SAP had declined comment.

AUTOS

Opel executive board member and marketing specialist Tina Mueller has resigned, Handelsblatt reported. A spokesman for Opel, which was bought by PSA, declined comment. Former CEO Karl-Thomas Neumann left Opel in June.

THYSSENKRUPP

Thyssenkrupp is to set up a joint working group of board members and labour representatives to help implement the plan to merge with Tata Steel, it said in a statement on Saturday.

Swedish finance investor Cevian, which holds a minority stake in Thyssenkrupp, would support the merger provided the financial conditions were right, weekly Bild am Sonntag cited a source at Cevian as saying.

COMMERZBANK

Reports that UniCredit might be interested in merging with Commerzbank is nonsense, UniCredit’s deputy chairman told journalists on Friday.

KRONES

The bottling machine maker in an interview with Euro am Sonntag upheld a June forecast for a pretax margin of 7 percent in 2017. CEO Christoph Klenk said order books were full this year and customers keen, especially in Asia-Pacific. A new production site was being built up in south-east Europe for low complexity products.

LEG IMMOBILIEN

Capital Markets Day due.

IPO

E-mobility-company Voltabox AG announced a price range for its planned IPO of 20-24 euros per share for an expected placement volume of 126.5-151.8 million euros.

BHF

Frankfurter Leben board member Anja van Riesen told Boersenzeitung on Saturday the company might make another acquisition this year, having taken over Basler and Arag. The other board member in a duo, Bernd Neumann, said the company which is also backed by Chinese investor Fosun, aims to reach a share of 20-40 percent of the German run-off life insurance market, which itself represents 15 percent of German life insurers’ capital investments.

OVERSEAS STOCK MARKETS

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

Nikkei +0.5 pct, Shanghai stocks -0.4 pct.

Time: 5.34 GMT.

GERMAN ECONOMIC DATA

German Ifo sentiment index for September due at 0800 GMT. Seen unchanged from previous month, with Business Climate at 115.9 points, Current Conditions at 124.6 and Expectations at 107.9.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Maria Sheahan, Vera Eckert, and Ludwig Burger)

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