March 4, 2019 / 6:07 AM / 6 months ago

German stocks - Factors to watch on March 4

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


German car authority KBA due to release February new car registrations data

Germany’s car industry is to invest nearly 60 billion euros over the next three years on electric cars and automated driving, the head of the VDA car industry association said ahead of the Geneva motor show.


Martin Daum, chief executive of Daimler trucks, said European government must levy higher taxes on commercial diesel vehicles. Otherwise, the transition to electric vehicles will happen too slowly and climate goals for the sector will not be met, he told the Financial Times.


Volkswagen’s VW brand missed its margin target in 2018 as operating profits declined despite growth in top-line revenues, news weekly Spiegel reported.

Volkswagen chief executive Herbert Diess said in an interview with Automobilwoche that the tariff dispute between the U.S. and Europe could hit carmakers hard, and that the dispute between the U.S. and China had already seen VW sales suffer in China.

VW’s Porsche unit said it was cooperating with state prosecutors to clear up investigations into alleged tax debts related to early retirees and taxable benefits enjoyed by former top executives.


The sovereign wealth fund of Qatar is seeking a stake of at least 5 percent in Deutsche Bank, Spiegel magazine reported.


The new company made up of the German industrial gases maker and U.S. peer Praxair after their merger will achieve promised synergies of 1.1 billion euros, chief executive Steve Angel said in an interview with Handelsblatt. “We will reach them. We have calculated this through again and again in the meantime,” he said.


German taxpayers could be left more than 600 million euros out of pocket in outstanding credit to Airbus for developing the A380 superjumbo, Funke Mediengruppe reported.


The utility plans to expand further in energy trading and solar power to replace falling profit contributions from conventional energy sources, according to an interview with finance chief Thomas Kusterer with Boersen-Zeitung.


German airports could be in for another costly summer of delays and disruptions due to lingering air-traffic control and logistics problems, the head of airline TUI fly, part of the TUI group, said in an interview.


LINDE PLC - Moody’s assigns A2 rating


Dow Jones +0.4 pct, S&P 500 +0.7 pct, Nasdaq +0.8 pct at close.

Nikkei +1.0 pct, Shanghai stocks +2.4 pct.

Time: 5:51 GMT.


* No major economic data scheduled

* Germany’s more than one million public-sector workers in the country’s states secured pay hikes of 8 percent over 33 months, a deal likely to boost consumption and provide impetus for an economy increasingly dependent on spending for growth.


REUTERS TOP NEWS (Reporting by Berlin Speed Desk and Frankfurt Newsroom, Douglas Busvine, Vera Eckert)

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