August 20, 2018 / 5:17 AM / in 8 months

German stocks - Factors to watch on August 20

FRANKFURT/BERLIN, Aug 20 (Reuters) - The following are some of the factors that may move German stocks on Monday:


Turkey’s currency crisis poses an additional risk to Germany’s economy on top of trade frictions with the United States and the possibility of Britain leaving the European Union without a deal, the German finance ministry said on Monday.


The European Central Bank is on course towards a less expansive monetary policy, and the projected inflation rate of 1.7 percent for 2020 is in line with its medium term stability goals, the head of Germany’s Bundesbank said in an interview.


BMW will give the possibility of raising its stake in its Chinese joint venture careful consideration, China’s official Xinhua news agency reported on Sunday, citing a company executive.


Mercedes-maker Daimler is threatened with a recall of hundreds of thousands of 24 models of cars by Germany’s KBA vehicle authority because of suspected emissions manipulation, Der Spiegel magazine reports. Daimler is appealing.


The European Commission is set to announce on Monday its decision on whether to approve the merger of Linde and Praxair , The Financial Times reported on Sunday.


The German technology firm hopes to reach 1 billion euros ($1.14 billion) in sales soon for its new customer relationship management (CRM) software, finance chief Luka Mucic tells the Euro am Sonntag newspaper.


Siemens works council chief Birgit Steinborn criticised headcount reductions under Chief Executive Joe Kaeser, saying repeated restructuring and job cuts were “wearing people down”, according to an interview published by Tagesspiegel on Sunday.


Thyssenkrupp’s workers are prepared to do their part in the ongoing restructuring of the embattled conglomerate, its interim chairman and trade union secretary Markus Grolms told a German magazine.


Volkswagen Chief Executive Herbert Diess was told about the existence of cheating software in cars two months before regulators blew the whistle on a multi-billion exhaust emissions scandal, German magazine Der Spiegel said.

Separately, Volkswagen has agreed to a 5.5 percent salary increase for workers in Mexico and another raise for next year, the company’s Mexican union said, averting a potential strike.


The group will have to think about how to proceed in Iran, where it has built up some business over the past few years, if the United States demand that the company cut its ties there, Chief Executive Christoph Klenk told Sueddeutsche Zeitung in an interview. “If the banks stop their business with Iran, it will hit us as well,” he said.


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

Nikkei -0.2 pct, Shanghai stocks -0.1 pct.

Time: 5.15 GMT.


German producer price data due at 0600 GMT. Seen +0.2 pct m/m, +3.0 pct y/y.


REUTERS TOP NEWS ($1 = 0.8744 euros) (Reporting by Douglas Busvine, Emma Thomasson and Maria Sheahan)

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