January 13, 2020 / 5:42 AM / 12 days ago

German stocks - Factors to watch on January 13

BERLIN/FRANKFURT, Jan 13 (Reuters) - The following are some of the factors that may move German stocks on Monday:

LUFTHANSA

December traffic figures due.

SIEMENS

German engineering group Siemens said on Sunday it will fulfil its contractual obligations to a controversial coal mining project in Australia’s outback, despite criticism by climate activists including Greta Thunberg.

Activist Luisa Neubauer declined to accept a post on Siemens Energy, Bild am Sonntag said.

THYSSENKRUPP

The German conglomerate has stepped up efforts to sell its Industrial Solutions unit, which builds plants and industrial sites, the Financial Times newspaper reported on Sunday.

Separately, Der Spiegel magazine on Friday reported Thyssenkrupp was considering reviving plans for a steel merger with smaller German peer Salzgitter.

DAIMLER

Mercedes-Benz will build smart-branded electric cars with Zhejiang Geely Holding Group in the Chinese city of Xian from a base with annual capacity of around 150,000 vehicles, a senior official from its German parent Daimler said on Saturday.

BANKS

German banking association BdB holds a news conference in Frankfurt to give an outlook on this year.

WIRECARD

Thomas Eichelmann, the board member overseeing an outside audit of Wirecard was elected as chairman of the German payments company as it battles allegations of fraud and false accounting that have hit its share price.

WACKER

Wacker Chemie is drawing up cost cutting plans in response to falling prices of polysilicon, a step which will include job cuts, chief financial officer Tobias Ohler told Germany’s Boersen-Zeitung.

ANALYSTS’ VIEWS

DEUTSCHE BOERSE AG: Jefferies initiates coverage with “buy” rating and price target of 165 euros

SOFTWARE AG: JP Morgan raises target price to 30 euros from 26 euros

SAP SE: Citigroup raises price target to 140 euros from 126 euros

INFINEON TECHNOLOGIES AG: Citigroup raises price target to 24.5 euros from 22.5 euros

PUMA SE: RBC raises to “sector perform” from “underperform”; raises price target to 70 euros from 48 euros

OVERSEAS STOCK MARKETS

Dow Jones -0.5%, S&P 500 -0.3%, Nasdaq -0.3% at close.

Japanese markets closed, Shanghai stocks +0.1%.

Time: 5:41 GMT

GERMAN ECONOMIC DATA

German December wholesale prices due at 0700 GMT.

DIARIES

REUTERS TOP NEWS (Reporting by Berlin Speed Desk and Frankfurt Newsroom)

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