May 2, 2018 / 5:00 AM / 4 months ago

German stocks - Factors to watch on May 2

FRANKFURT, May 2 (Reuters) - The following are some of the factors that may move German stocks on Wednesday:

DEUTSCHE BANK

Proxy adviser Glass Lewis has recommended that shareholders in Deutsche Bank vote against ratifying the actions of the management and supervisory boards at the lender’s 2018 annual general meeting in May.

CARMAKERS

German carmakers Volkswagen, BMW and Daimler posted low single-digit percentage gains in U.S. vehicle sales in April.

COVESTRO

The the plastics and chemicals maker’s CEO-designate Markus Steilemann told Rheinische Post that the company remained on the lookout for takeovers that could be worth billions, saying there was ample room to increase debt. He said he was targeting new technologies or plastics processing firms

DEUTSCHE TELEKOM

Deutsche Telekom unit T-Systems, labour union Verdi, to hold second round of wage talks.

HUGO BOSS

Q1 results due. Net profit seen down 6 percent at 44.9 million euros. Poll:

MORPHOSYS

Q1 results due after market close.

QIAGEN

Q1 results due after market close. Adjusted EBIT seen up 15 percent at 73.6 million euros. Poll:

TELEFONICA DEUTSCHLAND

Q1 report due. The group published preliminary results on April 25 and affirmed its 2018 guidance.

ANALYSTS’ VIEWS

SIEMENS - Jefferies cuts price target to 140 euros from 150 euros

OVERSEAS STOCK MARKETS

US markets closed.

Nikkei -0.3 pct, Shanghai stocks -0.4 pct.

Time: 4.55 GMT.

GERMAN ECONOMIC DATA

German April Markit manufacturing PMI due at 0755 GMT. Seen unchanged at 58.1 points.

DIARIES

REUTERS TOP NEWS (Reporting by Ludwig Burger and Tom Sims)

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