FRANKFURT, April 25 (Reuters) - The following are some of the factors that may move German stocks on Wednesday:
Adidas named Zion Armstrong as President of Adidas North America as of July 1, replacing Mark King, who has decided to step down from his post.
Daimler’s boss said on Wednesday there was no indication the firm’s largest shareholder, Chinese auto magnate Li Shufu, was planning a hostile takeover, after he took a $9 billion stake in the firm earlier this year.
The stock exchange operator said late on Tuesday that its supervisory board will likely name three new executive board members at its meeting on Wednesday and enlarge the executive board to six seats from five.
Q1 results due after market close. Adjusted EBIT seen up 13 percent at 390 million euros ($477 million). Poll:
Q1 results due. Net profit seen down 5 percent at 328 million euros. Poll:
VW’s luxury unit Audi said on Tuesday that it was recalling 1.16 million vehicles worldwide because of concerns that an electric coolant pump could overheat or short-circuit from moisture within the pump and pose a fire risk.
Audi separately said it aims to double its China production with local partner FAW within five years, the firm’s chief executive said on Wednesday, as global carmakers look to localise in the world’s largest vehicle market.
Volkswagen plans to launch 27 electric vehicle models in less than three years, Thomas Ulbrich, in charge of electromobility at the VW brand, told Handelsblatt.
Germany and France have agreed on the central requirements for a new fighter jet to replace Eurofighter Typhoon and Rafale warplanes beginning in 2040, German military sources said.
Also, the German defence ministry has received bids from Airbus and the U.S. government - representing Lockheed Martin and Boeing - for the replacement of its fleet of 90 ageing Tornado fighter jets that were developed in the 1960s.
The lighting group stepped up cutbacks and slashed its guidance for adjusted core profit and earnings per share in fiscal 2018, citing a weak dollar and slower business development.
Annual report due. The group published preliminary figures on Feb. 22 and has forecast a rise in adjusted EBIT to 28 to 31 million euros in 2018.
Q1 results due.
Q1 results due. OIBDA before exceptional items seen up 1.5 percent at 407 million euros. Poll:
Q1 results due.
Q1 results due. EBITDA seen down 23 percent at 58.7 million euros. Poll:
The carbon materials specialist said late on Tuesday high positive one-time effects and good operational development prompted it to predict a low double digit million euro amount for 2018 net income from continuing operations, where it had previously seen slightly more than zero.
BEIERSDORF - 0.70 eur/shr dividend proposed
MUNICH RE - 8.60 eur/shr dividend proposed
GERRESHEIMER - 1.10 eur/shr dividend proposed
DEUTSCHE POST - 1.15 eur/shr dividend
INNOGY - 1.60 eur/shr dividend
VOLKSWAGEN - Jefferies raises to “buy” from “hold”, raises price target to 220 euros from 180 euros
HANNOVER RE - Credit Suisse cuts to “neutral” from “outperform”, raises price target to 122 euros from 120 euros
SIEMENS HEALTHINEERS - Morgan Stanley starts with “equal-weight” rating, price target 34 euros
Dow Jones -1.7 pct, S&P 500 -1.3 pct, Nasdaq -1.7 pct at close.
Nikkei -0.4 pct, Shanghai stocks -0.3 pct.
Time: 4.53 GMT.
No economic data scheduled.
The German government has lowered its economic growth forecast for this year, a source familiar with the decision said on Tuesday, reflecting expectations that an upswing in Europe’s largest economy was losing some momentum.
REUTERS TOP NEWS ($1 = 0.8185 euros) (Reporting by Ludwig Burger and Maria Sheahan)