May 23, 2019 / 5:09 AM / 3 months ago

German stocks - Factors to watch on May 23

BERLIN/FRANKFURT, May 23 (Reuters) - The following are some of the factors that may move German stocks on Thursday:

ALLIANZ

Company has led a C$100 million ($74.55 million) capital raise for Canadian financial technology company Wealthsimple which manages around $4.5 billion in assets for clients in Canada, Britain and the United States.

BAYER

A U.S. judge on Wednesday appointed prominent attorney Kenneth Feinberg as mediator for court-mandated settlement talks in the federal litigation over allegations that Bayer unit Monsanto’s glyphosate-based Roundup weed killer caused cancer, a claim the German company disputes.

DEUTSCHE BANK

The lender’s annual general meeting promises to be challenging after two influential investor advisory groups recommended a vote of no confidence in Deutsche’s management and major investors are demanding a succession plan for chairman Paul Achleitner.

Separately, U.S. President Donald Trump, three of his children and the Trump Organization on Wednesday lost their bid to block Deutsche Bank as well as Capital One Financial Corp from providing financial records to Democratic lawmakers investigating Trump’s businesses.

Deutsche Bank has long been a principal lender for Trump’s real estate business and a 2017 disclosure form showed that Trump had at least $130 million of liabilities to the bank. It said it would abide by the court order to provide Trump’s financial records to lawmakers.

VOLKSWAGEN

U.S. union United Auto Workers said it filed a new petition for a union election at Volkswagen AG’s Chattanooga, Tennessee plant, after the U.S. agency in charge of enforcing labour law dismissed a previous one.

CTS EVENTIM

Q1 results due.

ANNUAL GENERAL MEETINGS

DEUTSCHE BANK - 0.11 eur/shr dividend proposed

LANXESS - 0.90 eur/shr dividend proposed

AUDI - 4.80 eur/shr dividend proposed

SALZGITTER - 0.55 eur/shr dividend proposed

UNITED INTERNET - 0.11 eur/shr dividend proposed

WACKER CHEMIE - 2.50 eur/shr dividend proposed

PFEIFFER VACUUM - 2.30 eur/shr dividend proposed

EX-DIVIDEND

DAIMLER - 2.86 euros/shr dividend

AAREAL BANK - 2.10 euros/shr dividend

ALSTRIA OFFICE REIT - 0.52 euros/shr dividend

COMMERZBANK - 0.20 euros/shr dividend

SYMRISE - 0.90 euros/shr dividend

UNIPER - 0.90 euros/shr dividend

KOENIG & BAUER - 1.00 euros/shr dividend

PATRIZIA IMMOBILIEN - 0.27 euros/shr dividend

VOSSLOH - 1.00 euros/shr dividend

OVERSEAS STOCK MARKETS

Dow Jones -0.4 pct, S&P 500 -0.3 pct, Nasdaq -0.5 pct at close.

Nikkei -0.7 pct, Shanghai stocks -0.8 pct.

Time: 5:05 GMT.

GERMAN ECONOMIC DATA

*German Ifo business climate for May due at 0800 GMT. Business climate seen at 99.1, current conditions at 103.5, expectations at 95.0 points.

*German detailed gross domestic product in the first quarter due at 0600 GMT. Seasonally-adjusted growth seen at 0.4% quarter-to-quarter and at 0.7% year-on-year, while unadjusted growth is seen at 0.6% year-on-year.

*Markit flash PMI for May due at 0730 GMT. Manufacturing index seen at 44.8, services index seen at 55.5, composite index seen at 52.0 points.

DIARIES

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

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