March 27, 2019 / 6:03 AM / 7 months ago

German stocks - Factors to watch on March 27

BERLIN/FRANKFURT, March 27 (Reuters) - The following are some of the factors that may move German stocks on Wednesday:

DAIMLER

Daimler AG is nearing the sale of a 50 percent stake in its small-car brand Smart to China’s Geely Automobile Holdings Ltd , the Financial Times said on Tuesday, citing three people familiar with the matter.

Volkswagen

German carmaker Volkswagen and Amazon.com Inc have agreed on a strategic partnership to create a kind of “industry cloud”, for which details will soon be announced, Germany’s Sueddeutsche newspaper reported on Wednesday.

BAYER

Soy producer associations in 10 Brazilian states have filed a legal petition to join with growers from Mato Grosso state and get Bayer to deposit royalties related to a soy seed technology into an escrow account, according to a document seen by Reuters.

Separately, a lawyer for a man who said his cancer was caused by Bayer AG’s glyphosate-based weed killer Roundup on Tuesday urged U.S. jurors to “send a message” to the company by holding it liable and awarding millions in damages.

DEUTSCHE BANK COMMERZBANK

German Finance Minister Olaf Scholz on Tuesday rejected accusations that he was pressuring Deutsche Bank and Commerzbank to merge, adding that the government was in talks with the country’s two largest lenders so it could intervene if needed.

Separately, union bosses have warned Deutsche Bank’s top management that they will scupper the integration of Postbank, which it bought nearly a decade ago, if a merger with Commerzbank goes ahead, the Financial Times reported on Wednesday.

LUFTHANSA

Lufthansa plans to buy a triple-digit number of either Boeing 737 MAX or Airbus A320neo jetliners to expand its fleet, Chief Executive Carsten Spohr said on Tuesday.

Merck KGAA

Versum Materials, the former speciality chemicals division of industrial gases group Air Products, said its board was reviewing the takeover offer of German pharma group Merck KGaA and would inform its shareholders about the board’s formal position within 10 business days.

BMW

German carmaker BMW will begin Chinese production of electric cars in 2021 with Great Wall Motor, Nikkei Asian Review reported.

STABILUS SA

The company on Tuesday said it appointed Michael Buechsner chief executive officer.

COMMERZBANK

Annual report due

STROEER SE

Q4 results due

HAMBORNER REIT

Q4 results due

INDUS HOLDING

Q4 results due

SGL CARBON

Q4 results due

HAMBURGER HAFEN

Q4 results due

European Central Bank

European Central Bank President Mario Draghi, vice president Luis de Guindos and chief economist Peter Praet speak at The ECB and Its Watchers conference.

OVERSEAS STOCK MARKETS

Dow Jones +0.6 pct, S&P 500 +0.7 pct, Nasdaq +0.7 pct at close.

Nikkei -0.4 pct, Shanghai stocks +0.2 pct.

Time: 6:00 GMT.

GERMAN ECONOMIC DATA

No economic data scheduled.

DIARIES

REUTERS TOP NEWS (Reporting by Berlin Speed Desk and Frankfurt Newsroom)

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