June 14, 2018 / 5:06 AM / 5 months ago

German stocks - Factors to watch on June 14

BERLIN/FRANKFURT, June 14 (Reuters) - The following are some of the factors that may move German stocks on Thursday:

ECB

The European Central Bank will debate on Thursday whether to end its huge asset purchases by year-end, in what would be its biggest step towards dismantling crisis-era stimulus credited with pulling the euro zone economy out of recession.

U.S. FED

The Federal Reserve raised interest rates on Wednesday, a move that was widely expected but still marked a milestone in the U.S. central bank’s shift from policies used to battle the 2007-2009 financial crisis and recession.

VOLKSWAGEN

Volkswagen was fined 1 billion euros ($1.18 billion) over diesel emissions cheating in what amounts to one of the highest ever fines imposed by German authorities against a company, public prosecutors said on Wednesday.

Separately, Volkswagen is paying owners of polluting diesel-powered vehicles up to $1,000 in additional payments to settle state lawsuits in Vermont, the state’s attorney general said on Wednesday.

DAIMLER

Ford and Daimler are winding down a joint venture formed to develop automotive fuel cell technology, Ford said on Wednesday, as both companies plan to take their respective fuel cell technology development in-house.

STEEL

Thyssenkrupp is still sticking to its timetable for a joint venture with Tata Steel, a spokesman said on Wednesday after a supervisory board meeting.

Separately, the head of Thyssenkrupp Steel Europe said on Wednesday that more steel coming to Europe as a result of U.S. steel tariffs would have a more serious impact than the tariffs themselves.

Also, German Economy Minister Peter Altmaier said that Germany will press for quick action by a global steel forum to reduce overcapacities in the world market, ahead of a June 20 meeting by the Global Forum on Excess Steel Capacity in Paris.

BERTRANDT

Bertrandt said it expected to continue growing during the 2017/2018 financial year as it reported H1 results.

Also, Capital Markets Day due.

GRENKE

The company has decided to do a cash capital increase of up to 200 million euros, it said on Wednesday.

GERRY WEBER

The fashion retailer issued a profit warning and said it was implementing a restructuring programme.

ANNUAL GENERAL MEETINGS

CANCOM - 1.00 euros/shr dividend proposed

EX-DIVIDEND

KRONES - 1.70 euros/shr dividend

GRAMMER - 1.25 euros/shr dividend

OVERSEAS STOCK MARKETS

Dow Jones -0.5 pct, S&P 500 -0.4 pct, Nasdaq -0.1 pct at close.

Nikkei -0.5 pct, Shanghai stocks -0.3 pct.

Time: 4.59 GMT.

GERMAN ECONOMIC DATA

Final German inflation data for May due at 0600 GMT. CPI seen +0.5 pct m/m, +2.2 pct y/y. HICP seen +0.6 pct m/m, +2.2 pct y/y.

DIARIES

REUTERS TOP NEWS (Reporting by Victoria Bryan and Maria Sheahan)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below