February 16, 2018 / 6:16 AM / 7 months ago

German stocks - Factors to watch on February 16

FRANKFURT, Feb 16 (Reuters) - The following are some of the factors that may move German stocks on Friday:

ALLIANZ

The insurer posted a 22 percent decline in net profit in the fourth quarter of 2017 after a U.S. tax overhaul, a weak U.S. dollar, other one-off costs, and natural disasters weighed on earnings, which fell short of expectations.

DEUTSCHE BANK

Chinese conglomerate HNA has cut its stake in Deutsche Bank AG to around 8.8 percent, but plans to remain a “significant” investor in the German lender.

VOLKSWAGEN

Audi unit head Stadler is poised to be replaced in April due to his unsuccessful handling of the diesel emissions scandal, German daily Bild reported, adding that Skoda head Vahland is tipped to take the helm.

LUFTHANSA

For the Lufthansa Cargo, 2017 was one of the most successful years of the company’s history, unit head Gerber told Wirtschaftswoche.

DEUTSCHE TELEKOM

Labour union Verdi expected to present details of its demands for Deutsche Telekom workers in Germany.

SCOUT24

Major shareholders in the online classified-ads firm sold about 340 million euros worth of stock, bookrunner JP Morgan said on Thursday, accounting for 8.6 percent of the group’s total shares. The deal priced at 36.50 eur/shr.

SIXT

The company said it placed a bond with institutional investors with a volume of 250 million euros.

ANNUAL GENERAL MEETINGS

METRO - 0.70 eur/shr dividend proposed

OVERSEAS STOCK MARKETS

Dow Jones +1.2 pct, S&P 500 +1.2 pct, Nasdaq +1.6 pct at close.

Nikkei +1.2 pct, Chinese markets closed.

Time: 6.13 GMT.

GERMAN ECONOMIC DATA

German January wholesale prices due at 0700 GMT.

DIARIES

REUTERS TOP NEWS (Reporting by Christoph Steitz and Arno Schuetze)

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