April 16, 2019 / 5:20 AM / 3 months ago

German stocks - Factors to watch on April 16

BERLIN/FRANKFURT, April 16 (Reuters) - The following are some of the factors that may move German stocks on Tuesday:

BMW

CFO Nicolas Peter said the Bavarian carmaker has no plans to develop a compact vehicle together with rival Daimler , pouring cold water on rumours the two companies were about to deepen their alliance.

DAIMLER

Sales in China rose by 3 percent in the first quarter, the carmaker’s China head said on Tuesday.

Daimler also announced plans to launch an electric compact sport utility vehicle in 2021.

DEUTSCHE BANK

U.S. lawmakers on Monday issued a subpoena to the lender in a move to collect information about the finances of President Donald Trump, the New York Times reported.

MORPHOSYS

Licensee Janssen has expanded clinical development of Guselkumab, the company said on Monday, adding it received a milestone payment.

LUFTHANSA

Adjusted EBIT declined to -336 million euros (-$379.78 million) in the first quarter, the company said, blaming a rise in fuel costs and market-wide overcapacities in Europe. For 2019 as a whole, the airline still expects to report an adjusted EBIT margin between 6.5 and 8.0 percent.

ZALANDO

The German ecommerce company sees adjusted EBIT in the first quarter above market consensus, it said in an adhoc statement on Monday.

OVERSEAS STOCK MARKETS

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

Nikkei +0.3 pct, Shanghai stocks +1.3 pct.

Time: 5:16 GMT.

GERMAN ECONOMIC DATA

ZEW index due at 0900 GMT. Economic sentiment seen at 0.8, current conditions at 8.0 points.

DIARIES

REUTERS TOP NEWS ($1 = 0.8847 euros) (Reporting by Berlin Speed Desk and Frankfurt Newsroom)

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