August 7, 2019 / 8:33 AM / 16 days ago

CORRECTED-German stocks - Factors to watch on Aug 7

(Corrects Morphosys entry to reflect that guidance was already hiked in July)

BERLIN/FRANKFURT, Aug 7 (Reuters) - The following are some of the factors that may move German stocks on Wednesday:

BAYER LANXESS

The chemical groups have agreed to sell chemical park operator Currenta to Macquarie Infrastructure and Real Assets (MIRA) for an enterprise value of 3.5 billion euros.

CONTINENTAL

H1 results due. Quarterly net profit seen at 545 million euros. Poll:

E.ON

H1 results due

MUNICH RE

Q2 results due. The world’s largest reinsurer said in July that it expected to post a net profit of about 1 billion euros as payouts for natural disasters remained subdued and the company benefited from high reserve releases.

VOLKSWAGEN

Parent company Porsche SE due to release H1 results

WIRECARD

Q2 results due. Revenues seen at 627 million euros. Poll:

STOCKS

Companies listed on the pan-European STOXX 600 index are expected to report a drop in earnings in the second and third quarters of 2019, according to data from I/B/E/S Refinitiv, marking a severe deterioration in outlook for corporate Europe.

COMMERZBANK

Q2 results due. Net profit seen at 201 million euros. Poll:

BRENNTAG

Q2 results due

DUERR

H1 results due

FRAPORT

Q2 results due

METRO

Czech investor Daniel Kretinsky’s 5.8 billion euro bid due to expire. Kretinsky’s vehicle EP Global Commerce has set a minimum acceptance threshold of 67.5%.

MORPHOSYS

The biotech group confirmed its guidance, which it had updated in July, that it expected 2019 revenues of 65 million to 72 million euros, driven by a milestone payment from partner GlaxoSmithKline.

PROSIEBENSAT.1 MEDIA

H1 results due

HAPAG LLOYD

H1 results due

PATRIZIA

The real estate company said first-half operating income rose 8.9% to 79 million euros and confirmed its full-year guidance for 120-130 million euros in operating income.

OVERSEAS STOCK MARKETS

Dow Jones +1.2%, S&P 500 +1.3%, Nasdaq +1.4% at close.

Nikkei -0.4%, Shanghai stocks unchanged.

Time: 4:29 GMT

ECONOMY

German June industrial output due at 0600 GMT. Seen at -0.4% m/m

DIARIES

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

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