January 4, 2018 / 6:07 AM / 3 months ago

German stocks - Factors to watch on January 4

FRANKFURT, Jan 4 (Reuters) - The following are some of the factors that may move German stocks on Thursday:


Carmakers reported U.S. sales figures for December.

German monthly car sales data also expected.

Also, workers at Volkswagen’s Porsche sports car brand to walk off their shifts for about an hour on Thursday as part of union IG Metall’s campaign for higher pay across the engineering industry.


Monsanto has won support from eleven U.S. states in its attempt to stop California from requiring cancer warnings on products containing glyphosate, ratcheting up a legal fight over the company’s popular weed killer.

Separately, Arkansas agricultural regulators stuck with a proposal on Wednesday to prohibit sprayings of a controversial weed killer after mid-April, despite a lawsuit over the plan by manufacturer Monsanto.

Also, Momenta Pharmaceuticals Inc and Mylan NV plan to begin a pivotal clinical trial of a biosimilar to Regeneron Pharmaceuticals Inc’s blockbuster eye drug Eylea in the first half of this year, the two companies said on Wednesday.


International and German investors have sued Deutsche Bank for 740 million euros ($890 million) in connection with the bank’s takeover of Postbank, their lawyer said on Wednesday.


Osram could make further acquisitions in the automotive sector but it currently has no takeovers in the pipeline, the head of its Special Lighting business, Hans-Joachim Schwabe, told Handelsblatt daily.


The energy group plans to build a new gas-fired power plant in the industrial Ruhr region of Germany to replace a coal-fired plant in Gelsenkirchen, Westdeutsche Allgemeine Zeitung reported, citing a company spokesman.


A Berlin court is expected to rule on legal action by a passenger rights group seeking to shift the insolvency proceedings for Niki to Austria from Germany, which could unravel the sale of Niki to Britain’s IAG.


Dow Jones +0.4 pct, S&P 500 +0.6 pct, Nasdaq +0.8 pct at close.

Nikkei +3.3 pct, Shanghai stocks +0.4 pct.

Time: 6.06 GMT.


German final Markit PMI for December due at 0855 GMT. Services PMI seen unchanged at 55.8 points, composite PMI flat at 58.7.


REUTERS TOP NEWS ($1 = 0.8319 euros) (Reporting by Christoph Steitz and Maria Sheahan)

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