September 3, 2018 / 5:22 AM / 9 months ago

German stocks - Factors to watch on September 3

FRANKFURT, Sept 3 (Reuters) - The following are some of the factors that may move German stocks on Monday:


Volkswagen Daimler BMW

Germany’s Transport Ministry said on Sunday that a report by Sunday paper Bild am Sonntag saying Volkswagen engineers told investigators that certain petrol engines in VW, Audi and Porsche vehicles can be used to manipulate emissions tests, held no fresh news.

Some 6.3 million BMW cars in Germany will need software upgrades in the wake of the diesel scandal, a million more than previously believed, Bild newspaper reported on Friday.

Germany’s economy ministry has calculated that an increase in U.S. car import tariffs to 25 percent from currently 2.5 percent would result in foregone revenue of German carmakers of 7 billion euros per annum, Handelsblatt is due to report in its Monday edition. But there would not be an increase in employment and Mexico would be hit harder.


The German automotive supplier’s wood processing machinery unit Homag is benefitting from high orders for kitchens, boosting the outlook for second-half sales after a weak second quarter, weekly Euro am Sonntag reported on Saturday. On Tuesday, there will be a strategy meeting with investors.


The company said on Friday that its steel unit will build a new hot-dip galvanizing line in Dortmund, in a low three-digit million euro investment that would create more than 100 skilled jobs.


Qatar plans to invest billions of dollars more in Germany and will broaden its focus to the country’s medium-sized companies, business newspaper Handelsblatt said in a report due to be published on Monday.


Dow Jones -0.1 pct, S&P 500 unchanged, Nasdaq +0.3 pct at close.

Nikkei -0.7 pct, Shanghai stocks -1 pct.

Time: 5.17 GMT.


German Aug Purchasing Managers’ Index (PMI) for manufacturing due at 0755 GMT.


REUTERS TOP NEWS (Reporting by Tom Sims, Vera Eckert and Ludwig Burger)

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