July 6, 2018 / 5:12 AM / in 4 months

German stocks - Factors to watch on July 6

BERLIN/FRANKFURT, July 6 (Reuters) - The following are some of the factors that may move German stocks on Friday:

GERMAN COALITION

Germany’s Social Democrats (SPD) has reached an agreement on migration with the other parties in Chancellor Angela Merkel’s coalition, its head said on Thursday, stressing that there would be no transit centres of any kind.

DAIMLER

The carmaker is struggling to meet an end-of-year deadline in Germany to update the engine software of several hundred thousand diesel cars because development of the software updates may not be concluded until the end of 2018, Handelsblatt reported, citing company sources.

DEUTSCHE BANK

Shareholder HNA said on Friday co-founder Chen Feng will become its sole chairman after Co-Chairman Wang Jian died during a business trip in France this week.

E.ON, INNOGY

Acceptance period for E.ON’s offer for Innogy due to end at midnight.

THYSSENKRUPP

Chief Executive Heinrich Hiesinger has asked to step down less than a week after sealing a landmark joint venture deal with India’s Tata Steel, bowing to growing investor pressure for a more radical restructuring of the group.

VOLKSWAGEN

Luxury brand Audi has found no irregularities in its internal examinations of third-generation V6 diesel engines and has briefed Germany’s KBA automotive watchdog on the results of its engine check-ups that have now been concluded, it said.

Also, Volkswagen is scrapping “large numbers” of older diesel cars with faulty exhaust treatment systems, Volkswagen of America chief Hinrich Woebcken told Handelsblatt.

Separately, Germany’s federal constitutional court is due to decide whether Munich prosecutors are allowed to assessing files seized last year during a raid on Jones Day, the U.S. law firm that Volkswagen had hired to investigate its emissions scandal, according to Handelsblatt.

AAREAL BANK

New business was satisfactory in the second quarter, Chief Executive Hermann Merkens told Boersen-Zeitung, but said that pre-payments of loans fell short of expectations.

AIRBUS

Airbus said it won 261 gross aircraft orders in the January-to-June period.

Boeing Co struck a deal for a controlling stake in the commercial aircraft arm of Brazilian planemaker Embraer SA under a new $4.75 billion joint venture, the firms said on Thursday, reshaping a global passenger jet duopoly.

Also, Airbus has failed to break an impasse with AirAsia over the fate of a multi-billion-dollar order seen as key to the future of its A330neo passenger jet, people familiar with the matter said.

HOCHTIEF

Deadline for EU decision on the takeover of Abertis Infraestructuras by Atlantia and ACS’s Hochtief.

ANNUAL GENERAL MEETINGS

HORNBACH HOLDING - 1.50 eur/shr dividend proposed

ANALYSTS’ VIEWS

BRENNTAG - Berenberg raises price target to 60 euros from 57 euros

OVERSEAS STOCK MARKETS

Dow Jones +0.8 pct, S&P 500 +0.9 pct, Nasdaq +1.1 pct at close.

Nikkei +1.3 pct, Shanghai stocks +0.8 pct.

Time: 5.11 GMT.

GERMAN ECONOMIC DATA

German May industrial output due at 0600 GMT. Seen +0.3 pct m/m.

DIARIES

REUTERS TOP NEWS (Reporting by Andreas Cremer and Maria Sheahan)

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