FRANKFURT/BERLIN, Aug 6 (Reuters) - The following are some of the factors that may move German stocks on Monday:
Commerzbank’s Polish unit M-Bank is preparing to expand to Germany, Austria and other western European countries, Frankfurter Allgemeine Zeitung reported, citing no sources.
Daimler’s Mercedes has agreed to build a new future model at its German plant in Sindelfingen as part of an agreement with labour representatives, who in exchange accepted the outsourcing of the production of car seats, Automobilwoche reported.
Moody’s downgraded Deutsche Bank’s senior debt to Baa3 from Baa2, citing recent changes in German law.
Separately, the Financial Times reported that Deutsche Bank planned to expand its U.S. wealth management division.
The German industrial gases group said it and U.S. rival Praxair may need to sell more assets than anticipated to secure antitrust approval for their planned $87 billion tie-up, which could scupper the deal.
Munich Re, the world’s biggest reinsurer, will stop investing in bonds and shares of companies that generate more than 30 percent of their sales with coal-related business, its chief executive said, caving to pressure from investors.
Siemens finance chief Ralf Thomas sees the trade conflict between the United States and China as damaging to the global economy as a whole but said it had so far had no materially negative impact on Siemens, according to an interview published in Boersen-Zeitung on Saturday.
The German state of North Rhine-Westphalia’s premier Armin Laschet reiterated doubts that it would be a good idea to break up industrial group Thyssenkrupp, according to an interview in Bild am Sonntag.
Volkswagen is stopping deliveries of electric and hybrid vehicles through the end of the year due to the switch to the switch to the new WLTP testing standard, Welt am Sonntag reported, citing a company spokesman.
Separately, the head of Volkswagen’s Scania said the truckmaker’s entire sales into Iran could be lost if the United States reinstates sanctions against the country.
Also, Volkswagen’s Porsche is spending a two-digit million euro sum to train its workers to build the new Taycan electric vehicle, the unit’s works council chief Uwe Hueck told Stuttgarter Zeitung.
Founder Niklas Ostberg said he expected the company’s value could jump in future. “Maybe Delivery Hero will be worth 80 billion euros ($92 billion) someday, we have time to take advantage of all our opportunities,” he told Sueddeutsche Zeitung in an interview.
Australian subsidiary Cimic secured social and commercial infrastructure projects totalling A$110 million ($81.29 million).
Full Q2 report due. The group reported quarterly financial results on July 25.
Q2 results due.
Q2 results due after market close.
Extended acceptance period for Ningbo Jifeng’s takeover offer due to end at midnight.
Full Q2 results due. The group published preliminary results on July 25.
The group reported its adjusted EBIT jumped 9 percent in the first nine months of the year and affirmed its 2018 guidance.
Dow Jones +0.5 pct, S&P 500 +0.5 pct, Nasdaq +0.1 pct at close.
Nikkei unchanged, Shanghai stocks -0.8 pct.
Time: 5.03 GMT.
German June industrial orders due at 0600 GMT. Seen -0.1 pct m/m.
REUTERS TOP NEWS ($1 = 1.3532 Australian dollars) ($1 = 0.8653 euros) (Reporting by Douglas Busvine and Maria Sheahan)