July 4, 2018 / 5:12 AM / a month ago

German stocks - Factors to watch on July 4

BERLIN/FRANKFURT, July 4 (Reuters) - The following are some of the factors that may move German stocks on Wednesday:

AUTOS

Carmakers published monthly U.S. car sales data late on Tuesday.

Separately, Daimler is considering buying battery cells from China’s CATL, Handelsblatt reported, citing company sources.

Also, Volkswagen’s sportscar maker Porsche has decided to build the next generation Macan sport-utility vehicle at its plant in Leipzig, which includes a medium three-digit million euro investment, according to Leipziger Volkszeitung.

ADIDAS

In a World Cup brimming with upsets, Nike Inc looks on track to defeat soccer juggernaut and archrival Adidas AG in the closely watched jersey sponsorship battle.

BAYER

Brazil is the second most important market for Bayer AG and will be a growth driver for its crop science division, global crop science chief executive officer Liam Condon said on Tuesday in a meeting with journalists in São Paulo.

THYSSENKRUPP

Thyssenkrupp Chief Executive Heinrich Hiesinger said he would restructure the German industrial conglomerate further after signing a long-awaited deal to merge its steel assets with those of India’s Tata Steel.

Also, Tata plans to remain invested in the European steel venture for the long run, Handelsblatt quoted Natarajan Chandrasekaran, chief of parent company Tata Sons, as saying.

DEUTZ

The company said it planned to withdraw from its Chinese joint venture with FAW and was negotiating new strategic alliances in China, which will weigh on its first-half earnings.

OVERSEAS STOCK MARKETS

Dow Jones -0.5 pct, S&P 500 -0.5 pct, Nasdaq -0.9 pct at close.

Nikkei -0.2 pct, Shanghai stocks -0.6 pct.

Time: 5.11 GMT.

GERMAN ECONOMIC DATA

German final June Markit PMI due at 0755 GMT. Services PMI seen unchanged at 53.9 points, composite PMI unchanged at 54.2 points.

DIARIES

REUTERS TOP NEWS (Reporting by Emma Thomasson and Maria Sheahan)

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