January 2, 2019 / 6:08 AM / 6 months ago

German stocks - Factors to watch on Jan. 2

BERLIN, Jan 2 (Reuters) - The following are some of the factors that may move German stocks on Wednesday:

ADIDAS

Adidas CEO Kasper Rorsted has confidence in Reebok’s progress, even if it will require patience, he told Welt am Sonntag. Asked whether Reebok would still be part of the group in three years he said: “yes, because we are making good progress, especially in terms of profitability.”

DEUTSCHE BANK

Deutsche Bank is strong and its turnaround strategy is bearing fruit, Chairman Paul Achleitner told Welt am Sonntag, ruling out the need for state aid and playing down speculation that the loss-making German bank would merge.

DEUTSCHE TELEKOM

Deutsche Telekom has filed a lawsuit against Germany’s Federal Network Agency protesting preconditions for participating in a next-generation mobile network frequency auction, Die Welt newspaper said on Tuesday.

E.ON, INNOGY

E.ON is doing the paperwork to present its planned takeover of Innogy to European cartel authorities, CEO Johannes Teyssen told Westdeutsche Allgemeine Zeitung at the weekend. While organisational measures will start to be ushered in this year, full decisions on implications for employees may not become known before the summer.

FRESENIUS MEDICAL CARE

Fresenius Medical Care said it was awaiting a decision from the U.S. Federal Trade Commission on its acquisition of NxStage Medical and now expects the transaction to close in early 2019.

LUFTHANSA

Budget carrier Eurowings could launch long-haul services from Frankfurt if Thomas Cook’s Condor exits the hub, Rheinische Post reported. It cited Eurowings CEO Thorsten Dirks as saying: “Bringing touristic long-haul routes to Frankfurt is an option that we are looking at. Nothing has been decided.

Separately, Lufthansa said on Tuesday it will hire approximately 5500 new employees in 2019.

VOLKSWAGEN, BMW

BMW executive Hildegard Wortmann will leave the carmaker and join Volkswagen subsidiary Audi, possibly as a member of the management board, German newspaper Die Welt reported, citing industry sources.

Separately, Volkswagen CEO Herbert Diess told Bild that he sees the auto industry facing a challenging 2019 amid the diesel crisis, trade disputes and the looming exit of Britain from the European Union.

TELEFONICA DEUTSCHLAND

Telefonica Deutschland and Vodafone have both filed lawsuits over how Germany’s network regulator has designed an upcoming auction of fifth-generation (5G) mobile licenses, spokespeople for the groups were cited by news agency dpa and newspaper Frankfurter Allgemeine Zeitung.

CTS EVENTIM

Germany’s highway toll system for passenger cars, to be run by Austria’s Kapsch Trafficcom and CTS Eventim, will launch in October 2020, German Transport Minister Andreas Scheuer said on Tuesday.

OVERSEAS STOCK MARKETS

US markets closed.

Japanese markets closed, Shanghai stocks -1.1 pct.

Time: 6:52 GMT.

GERMAN ECONOMIC DATA

German December Markit manufacturing PMI due at 0855 GMT. Seen at 51.5 points, flat from the previous month.

DIARIES

REUTERS TOP NEWS (Reporting by Berlin Speed Desk)

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