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WEDNESDAY-German stocks - Factors to watch on November 15
November 15, 2017 / 6:07 AM / 8 days ago

WEDNESDAY-German stocks - Factors to watch on November 15

FRANKFURT, Nov 15 (Reuters) - The following are some of the factors that may move German stocks on Wednesday:

ALLIANZ

The White House is considering Mohammed El-Erian, chief economic adviser at German insurance giant Allianz, among other possible candidates, to be a vice chair at the U.S. Federal Reserve, CNBC said on Tuesday, citing a report from Dow Jones. Allianz declined to comment.

SL Green Realty Corp, a major New York property owner, agreed to sell a 43 percent interest in a Times Square office tower to the real estate arm of Allianz in a deal that values the building at $1.95 billion.

LUFTHANSA

Germany’s cartel office may examine whether German airline flight prices are too high, depending on the result of a European Commission investigation into the topic, the watchdog’s head, Andreas Mundt, told Handelblatt. Consumer groups fear that Lufthansa’s acquisition of bankrupt Air Berlin will lead to higher prices.

VOLKSWAGEN

Prosecutors and tax authorities on Tuesday raided the offices of several senior officials of Volkswagen, the German car-maker said, amid suspicions of overpayment to its works council chief.

Volkswagen confirmed Tuesday it has agreed to pay $69 million to settle New Jersey state diesel emissions claims, one of the last major outstanding diesel legal issues the German automaker faces in the United States.

INNOGY

Werner Brandt, chairman of the supervisory board of German energy utility Innogy, will step down from his post at the end of the year for “personal reasons”, the company announced on Tuesday.

K+S

Q3 results due.

LANXESS

Q3 results due.

DEUTSCHE EUROSHOP

Q3 results due after market close.

LEONI

Q3 results due.

S&T

The technology company generated 88 million euros in proceeds from a capital increase to fund the takeover of Kontron AG and other growth initiatives.

WIRECARD

Full Q3 results due. The group published preliminary figures on Oct. 26 and raised its full-year profit guidance.

ADO PROPERTIES

Q3 results due.

HAPAG LLOYD

German shipping group Hapag-Lloyd HLAG.DE said on Tuesday it expected a significant rise in transport volumes and kept its forecast for higher earnings in 2017 after operating profits in the first nine months rose more than tenfold.

SIXT

Full Q3 results due. The group reported preliminary results on Oct. 19 and affirmed its pretax profit guidance.

ZOOPLUS

Q3 results due. The group said in its trading statement on Oct. 19 that its Q3 sales rose 22 percent.

OVERSEAS STOCK MARKETS

Dow Jones -0.1 pct, S&P 500 -0.2 pct, Nasdaq -0.3 pct at close.

Nikkei -1.6 pct, Shanghai stocks -0.6 pct.

Time: 6.06 GMT.

GERMAN ECONOMIC DATA

No economic data scheduled.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Tom Sims and Georgina Prodhan)

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