December 3, 2018 / 6:00 AM / 5 months ago

German stocks - Factors to watch on Dec. 3

BERLIN/FRANKFURT, Dec 3 (Reuters) - The following are some of the factors that may move German stocks on Monday:


U.S. President Donald Trump said that China had agreed to “reduce and remove” tariffs on U.S. cars below the 40 percent level that Beijing is currently charging on American-made vehicles. Lower tariffs would be a boost to automakers exporting vehicles to China, including BMW.


BASF and private equity group CVC Capital Partners are exploring the option of combining their construction-chemicals businesses, Bloomberg reported, citing people with knowledge of the matter.


SKF has reached a settlement with Daimler over the Swedish engineering group’s alleged participation in a ball bearings cartel, drawing a line under its disputes with automakers over this issue.


Deutsche Bank is not at risk of a takeover, its chief executive told a German weekly paper after its shares fell to a record low in the wake of a two-day raid related to money laundering allegations.


The cement maker’s U.S. order books are full, with top markets Texas and California going well, Chief Executive Bernd Scheifele told Frankfurter Allgemeine Zeitung.


Siemens workers could oppose what they see as overly drastic EU requirements to approve a planned rail merger with France’s Alstom, Der Spiegel reported, citing a statement by one of its labour representatives.


A U.S. judge in California has granted preliminary approval to a $48 million settlement for investors who said Volkswagen made false and misleading statements over its excess diesel emissions.

Also, the head of compliance at VW said 2019 will be its “most difficult year ever” due to the sheer complexity of the scandal, the Financial Times reported.

Separately, a lawsuit against Germany’s biggest carmaker is due to continue. Investors are suing VW for compensation for the hit to the carmaker’s share price from its diesel emissions scandal.


The automotive supplier has about 1 billion euros to fund acquisitions, Chief Financial Officer Bernard Schaeferbarthold told Boersen-Zeitung.


HELLOFRESH - Barclays starts with “overweight” rating


Dow Jones +0.8 pct, S&P 500 +0.8 pct, Nasdaq +0.8 pct at close.

Nikkei +1.0 pct, Shanghai stocks +2.7 pct.

Time: 5:48 GMT.


Nov Manufacturing PMI due at at 0855 GMT. Seen flat at 53.3 points.


REUTERS TOP NEWS (Reporting by Berlin Speed Desk and Christoph Steitz)

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