April 8, 2019 / 5:04 AM / 4 months ago

German stocks - Factors to watch on April 8

BERLIN/FRANKFURT, April 8 (Reuters) - The following are some of the factors that may move German stocks on Monday:

DEUTSCHE BANK, COMMERZBANK

Deutsche Bank said it was open to further restructuring of its U.S. investment bank after Commerzbank executives sought clarity on its plans during merger talks, according to three sources familiar with the matter.

Deutsche Bank and Commerzbank favour a straightforward merger over more complex ways to structure a deal, three people close to the matter said.

BMW, VOLKSWAGEN

BMW and Volkswagen face possible hefty fines after EU antitrust regulators on Friday charged them and whistleblower Daimler with colluding to block the rollout of clean emissions technology.

BMW said it was probable the Commission would issue a “significant fine” and it would set aside a provision of likely more than 1 billion euros, hurting first-quarter earnings.

VOLKSWAGEN

Ganfeng Lithium said it has signed a MoU with Volkswagen to offer lithium related products to the German carmaker in the next 10 years.

HENKEL

The boss of Germany’s Henkel on Saturday defended the consumer goods group’s plans to step up investment in brands and digital technology at the expensive of earnings.

“We can afford higher investment, because we are financially solid and extremely well setup,” Hans Van Bylen was quoted as saying in the Frankfurter Allgemeine Zeitung on Saturday. “If we want to create value for our shareholders we have to strengthen growth,” he added.

SAP

Software company SAP said the head of its cloud business group had quit, the latest in a string of top departures as Europe’s most valuable technology company reshapes its operations.

THYSSENKRUPP

Thyssenkrupp has nominated Siegfried Russwurm, currently chairman of German engineering group Voith, to its supervisory board, confirming a Reuters report from April 4.

VONOVIA, DEUTSCHE WOHNEN

Thousands of Berlin residents took to the streets on Saturday to vent anger over surging rents and demand the expropriation of more than 200,000 apartments sold off to big private landlords, which they blame for changing the character of the city.

SUEDZUECKER

Suedzuecker expects a difficult transition period caused by a slump in sugar prices to last at least two years, its chief financial officer told the Boersen-Zeitung newspaper.

DEUTSCHE BETILIGUNGS AG

Deutsche Beteiligungs AG expects to post a significant increase in its consolidated net income for the second quarter of its 2018/2019 financial year, driven by a better performance of capital markets, the company said on Saturday.

Lufthansa

Swiss International Airlines, Singapore Airlines and Lufthansa Airlines among others are in talks with consultancy firms to conduct due diligence in Jet Airways, Bloomberg reported on Monday.

DWS

DWS chief executive is cutting jobs as margins under pressure, Bloomberg reported late on Friday.

ANNUAL GENERAL MEETINGS

HENKEL - 1.85 eur/shr dividend proposed

Analysts views

FRAPORT: RBC cuts to “underperform” from “sector perform”

OVERSEAS STOCK MARKETS

Dow Jones +0.2 pct, S&P 500 +0.5 pct, Nasdaq +0.6 pct at close.

Nikkei -0.2 pct, Shanghai stocks -0.1 pct.

Time: 5:01 GMT.

GERMAN ECONOMIC DATA

German February trade data due at 0600 GMT. Exports seen at -0.5 pct M/M, Imports at -0.7 pct M/M. Trade surplus seen at 18.0 billion euros.

DIARIES

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

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