January 9, 2019 / 5:50 AM / 6 months ago

German stocks - Factors to watch on Jan. 9

BERLIN, Jan 9 (Reuters) - The following are some of the factors that may move German stocks on Wednesday:

BASF

BASF is looking to shed a sizeable portfolio of assets to try to salvage a deal it struck in 2017 to buy Belgian chemicals group Solvay’s polyamide business, people close to the matter said.

DAIMLER

Mercedes-Benz sold 2.31 million passenger cars last year, likely enough to make it the top-selling premium automotive brand in 2018.

DEUTSCHE BANK

The management board has decided to cut the lender’s 2018 bonus pool by around 10 percent in an effort to cut costs while retaining talent, Bloomberg reported.

SIEMENS

Siemens and Alstom executives met European Union Competition Commissioner Margrethe Vestager in what may be a last-ditch bid to rescue their rail deal, Bloomberg reported, citing two people familiar with the matter.

HOCHTIEF

Hochtief’s Cimic Group won a coal contract in Australia worth A$155 million, the company said.

UNIPER

Activist fund Elliott has further raised its stake in Uniper, the German energy group said in a voting rights announcement.

OVERSEAS STOCK MARKETS

Dow Jones +1.1 pct, S&P 500 +1.0 pct, Nasdaq +1.1 pct at close.

Nikkei +1.3 pct, Shanghai stocks +1.7 pct.

Time: 5:48 GMT.

GERMAN ECONOMIC DATA

* November trade balance due at 0700 GMT. Seen at +18 bln euros, with exports -0.3 pct m/m, imports unchanged.

* VDMA engineering orders due

DIARIES

REUTERS TOP NEWS (Reporting by Berlin Speed Desk)

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