January 12, 2018 / 6:10 AM / a year ago

German stocks - Factors to watch on January 12

FRANKFURT, Jan 12 (Reuters) - The following are some of the factors that may move German stocks on Friday:

COALITION TALKS

German Chancellor Angela Merkel’s conservatives and Social Democrats (SPD) worked through the night on Thursday to resolve differences on taxes, migration and other issues blocking formation of a new “grand coalition” government.

PUMA

Gucci-owner Kering plans to spin off German sports brand Puma to the French conglomerate’s shareholders as it sharpens the group’s focus squarely on its luxury brands.

BMW, VOLKSWAGEN

German union IG Metall announced plans for walkouts at BMW and Volkswagen’s Audi on Friday as it seeks to put pressure on employers in talks over higher wages and shorter hours.

Separately, Volkswagen has offered a 2 percent wage hike for around 120,000 workers in Germany, plus a one-time payment of 200 euros. Union IG Metall had demanded 6 percent more pay and changes to the company pension plan.

DRILLISCH, UNITED INTERNET

Drillisch EGM due to vote on planned change of name to 1&1 Drillisch AG following acquisition by United Internet.

ADO PROPERTIES

The property group said the value of its real estate investment portfolio stood at 3.35 billion euros ($4.03 billion)at the end of 2017, 750 million euros higher than after the first half.

ANALYSTS’ VIEWS

SAP - Morgan Stanley raises rating to equal-weight from overweight, price target cut to 105 euros from 111 euros

VOLKSWAGEN - Macquarie raises to “outperform”, raises target price to 210 euros from 155 euros

CARL ZEISS MEDITEC - Berenberg cuts to “hold” from “buy”, cuts price target to 48 euros from 55 euros

OVERSEAS STOCK MARKETS

Dow Jones +0.8 pct, S&P 500 +0.7 pct, Nasdaq +0.8 pct at close.

Nikkei -0.2 pct, Shanghai stocks +0.1 pct.

Time: 6.12 GMT.

GERMAN ECONOMIC DATA

No economic data scheduled.

DIARIES

REUTERS TOP NEWS ($1 = 0.8305 euros) (Reporting by Emma Thomasson and Maria Sheahan)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below