July 17, 2019 / 5:05 AM / 3 months ago

CORRECTED-German stocks - Factors to watch on July 17

(Removes reference to Fresenius AGM)

BERLIN/FRANKFURT, July 17 (Reuters) - The following are some of the factors that may move German stocks on Wednesday:

DEUTSCHE BANK

Deutsche is poaching a team of 13 bankers from Credit Suisse in Italy to expand its wealth management business, the Financial Times reported on Tuesday.

THYSSENKRUPP

The company plans to develop an Indian procurement centre as a supply hub for its engineering business in its push to turn around the loss-making division.

BRENNTAG

Citing a “difficult environment” for the rest of the year, the company cut its outlook for 2019.

DIALOG SEMICONDUCTOR

Anglo-German chip designer Dialog Semiconductor said on Wednesday it expects higher than anticipated profitability in the second quarter.

DAIMLER

Mercedes-Benz USA on Tuesday said it appointed Christian Struwe vice president and chief financial officer for the company.

HENKEL

German consumer goods company Henkel wants to benefit from a trend towards electromobility, with its adhesives division. “In a car with a combustion engine, we can achieve on average a turnover of about 100 euros with our products, with an electric car, there are on average up to 270 euros,” Division Chief Jan-Dirk Auris told Handelsblatt.

ANALYSTS’ VIEWS

SALZGITTER AG: Deutsche Bank cuts rating to “hold” from “buy”

OVERSEAS STOCK MARKETS

Dow Jones -0.1 pct, S&P 500 -0.3 pct, Nasdaq -0.4 pct at close.

Nikkei -0.4 pct, Shanghai stocks -0.1 pct.

Time: 5:02 GMT.

GERMAN ECONOMIC DATA

June car registration data from European automobile manufacturers’ association ACEA due at 0600 GMT.

DIARIES

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

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