June 7, 2018 / 5:22 AM / 6 months ago

German stocks - Factors to watch on June 7

BERLIN/FRANKFURT, June 7 (Reuters) - The following are some of the factors that may move German stocks on Thursday:

GLOBAL TRADE

U.S. President Donald Trump is not backing down from the tough line he has taken on trade, the White House’s top economic adviser said on Wednesday, setting the stage for a showdown with top allies at this week’s G7 summit in Canada.

DAIMLER

Daimler unveiled on Wednesday an all-electric big rig truck it promises to have in production in 2021, as the German automaker mounts a major challenge to European and American rivals, including new entrants like Tesla.

Daimler Trucks has also set up a research and development center for autonomous driving in the United States, the latest sign of the German manufacturer’s commitment to getting self-driving freight trucks on the road.

DEUTSCHE BANK

The lender’s investment banking arm will bear more than half of the group’s planned cost cuts, its chief financial officer said on Wednesday, as he admitted that the lender would continue to lag peers in the second quarter.

AIRBUS

Airbus said it had won 161 gross aircraft orders in the January to May period.

STEINHOFF

Steinhoff said it has obtained creditor support letters for two of its divisions.

ENBW

Moody’s has upgraded EnBW’s credit ratings to A3/Baa2 with a stable outlook.

EX-DIVIDEND

STADA - 0.11 eur/shr dividend

UNIPER - 0.74 eur/shr dividend

CEWE - 1.85 eur/shr dividend

RHOEN-KLINIKUM - 0.22 eur/shr dividend

VTG - 0.90 eur/shr dividend

OVERSEAS STOCK MARKETS

Dow Jones +1.4 pct, S&P 500 +0.9 pct, Nasdaq +0.7 pct at close.

Nikkei +0.9 pct, Shanghai stocks -0.1 pct.

Time: 5.18 GMT.

GERMAN ECONOMIC DATA

German April industrial orders due at 0600 GMT. Seen +0.8 pct m/m.

DIARIES

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

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