March 11, 2019 / 7:34 AM / 6 months ago

UPDATE 1-German stocks - Factors to watch on March 11

(Adds shares prices for banks, Deutsche Bahn, Thomas Cook)

BERLIN/FRANKFURT, March 11 (Reuters) - The following are some of the factors that may move German stocks on Monday:

DEUTSCHE BANK, COMMERZBANK

The management board of Deutsche Bank has agreed to hold talks with rival Commerzbank on the feasibility of a merger, a person with knowledge of the matter told Reuters on Saturday.

Separately, a German official told Reuters that Berlin was so worried about the health of Deutsche Bank that it pushed for a merger with rival Commerzbank even though it could open up a huge financial shortfall.

Deutsche Bank shares up 2.2 percent, Commerzbank up 3.3 percent at 0720 GMT.

DEUTSCHE BAHN

The railway operator improved punctuality in February to reach 80 percent, board chairman Richard Lutz said in Frankfurter Allgemeine Zeitung.

VOLKSWAGEN

The works council plans to vote against the building of a new factory in eastern Europe at an upcoming supervisory board meeting as it does not see the need for the investment given that existing factories are not operating at capacity, Bild am Sonntag newspaper reports.

DEUTSCHE POST

The German cabinet will agree a drastic increase to the price of sending letters on Wednesday, although it is not yet clear whether the increase will be from 70 cents to 85 or even 90 cents, the Frankfurter Allgemeine Zeitung reports.

LEG IMMOBILIEN

Lars von Lackum to take over as CEO from Thomas Hegel on June 1 after AGM; 2018 earnings growth as planned and outlook for 2019 and 2020 confirmed.

THOMAS COOK

Shareholder Fosun backs sales plans for subsidiary Condor, said Jim Qian, board chairman of Fosun Tourism in Handelsblatt.

HYPOPORT

2018 preliminary results due

ANALYSTS’ VIEWS

WACKER CHEMIE AG: Credit Suisse raises to “neutral” from “underperform”

OVERSEAS STOCK MARKETS

Dow Jones -0.1 pct, S&P 500 -0.2 pct, Nasdaq -0.2 pct at close.

Nikkei +0.4 pct, Shanghai stocks +1.2 pct.

Time: 5:58 GMT.

GERMAN ECONOMIC DATA

* January trade data due at 0700 GMT. Exports seen -0.5 pct m/m.

* January industrial output data due at 0700 GMT. Seen +0.5 pct m/m

DIARIES

REUTERS TOP NEWS (Reporting by Berlin Speed Desk and Frankfurt Newsroom)

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