July 13, 2018 / 5:09 AM / a month ago

German stocks - Factors to watch on July 13

FRANKFURT, July 13 (Reuters) - The following are some of the factors that may move German stocks on Friday:

ALLIANZ

Chief Executive Oliver Baete plans to present a new strategy for the insurer in late November, he told Handelsblatt daily in an interview.

DEUTSCHE TELEKOM

Deutsche Telekom’s troubled IT services arm T-Systems made a pay offer on Thursday that included extending a pledge to refrain from compulsory redundancies by two years, even as CEO Adel Al-Saleh plans 10,000 job cuts.

Deutsche Telekom’s supervisory board will on Friday name Birgit Bohle as management board member in charge of personnel, Frankfurter Allgemeine Zeitung reported, citing no sources. Deutsche Telekom declined to comment, saying such appointments were a matter for the board.

LINDE

Linde and Praxair will win regulatory clearance for their planned $83 billion merger after pledging to sell Praxair’s assets to boost a Japanese rival in Europe, two people familiar with the matter said on Thursday.

THYSSENKRUPP

The premier of the German state where Thyssenkrupp is based on Thursday backed the company’s chairman in opposing a breakup of the industrial conglomerate following the resignation of CEO Heinrich Hiesinger.

VOLKSWAGEN

The European Union, Japan, Canada, Mexico, along with automotive trade groups, Volkswagen, and the United Auto Workers union are among those scheduled to testify at a July 19 hearing on the Trump administration’s investigation into whether imported autos and parts pose a national security threat, according to a document seen by Reuters.

METRO

Labour union Verdi has called on 34,000 workers at Metro’s Real hypermarkets in Germany to strike on Friday in protest over a wage agreement that it said would result in 23 percent lower pay for new hires.

Separately, Metro aims to remain invested in Russia in the long term, despite its business’s current problems there, CEO Olaf Koch told WirtschaftsWoche. “The Russian market offers enormous growth potential,” he said.

ROCKET INTERNET

The company is buying back convertible bonds due July 22, 2022 in an aggregate nominal value of 253.9 million euros at a price of 110 percent of the principal amount.

EX-DIVIDEND

FIELMANN - 1.85 eur/shr dividend

OVERSEAS STOCK MARKETS

Dow Jones +0.9 pct, S&P 500 +0.9 pct, Nasdaq +1.4 pct at close.

Nikkei +2.0 pct, Shanghai stocks -0.2 pct.

Time: 5.07 GMT.

GERMAN ECONOMIC DATA

German June wholesale prices due at 0600 GMT.

DIARIES

REUTERS TOP NEWS (Reporting by Douglas Busvine and Maria Sheahan)

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