May 30, 2018 / 5:02 AM / in 3 months

German stocks - Factors to watch on May 30

FRANKFURT/BERLIN, May 30 (Reuters) - The following are some of the factors that may move German stocks on Wednesday:

ITALY CRISIS

Italy’s central bank warned the nation was only “a few short steps” from losing investors’ confidence, as markets suffered their biggest selloff in years on fears that repeat elections would become a proxy vote on euro membership.

A deepening political crisis in Italy, the euro zone’s third biggest economy, fuelled a selloff in Italian assets and the euro on Tuesday that was reminiscent of the euro zone debt crisis of 2010-2012.

ALLIANZ

Allianz has bought an 8 percent stake in African Reinsurance Corp, known as Africa Re, for $81 million, Niran Peiris who is responsible for Africa at the German insurer told Handelsblatt.

BAYER, BASF

The drugs and pesticides group won U.S. approval for its planned takeover of Monsanto after agreeing to sell about $9 billion in assets, clearing a major hurdle for the $62.5 billion deal.

Separately, the European Commission approved BASF as a suitable buyer of the businesses Bayer will divest to win regulatory approval for the Monsanto deal.

DAIMLER

Estonia’s Taxify is set to step up its fight against global rival Uber across Europe and Africa after raising $175 million in funding from a group led by German automaker Daimler.

DEUTSCHE BANK

Deutsche Bank views Russia as a priority, has completed a transformation of its operation there, and does not plan to cut its workforce there materially, the bank’s Russia head told Reuters in an interview.

DEUTSCHE BOERSE

Investor Day due.

INNOGY

Britain’s competition regulator set out more detail about what it intends to examine in its investigation of the tie-up between the retail power units of energy companies SSE SSE.L and Innogy’s Npower.

GRAMMER

The auto supplier signed a business combination agreement with suitor Ningbo Jifeng Auto Parts late on Tuesday. The deal comes at a time when Chinese takeovers face increased scrutiny from German and European authorities eager to protect domestic know-how.

ISRA VISION

Q2 results due.

IPO

Mutares set the offer price for the initial public offering of a stake in commercial vehicles supplier STS Group at 24 euros per share, below its initial price range of 26-32 euros. STS will received 24 million euros in gross proceeds from a total placement volume of 55 million euros.

ANNUAL GENERAL MEETINGS

STROEER - 1.30 eur/shr dividend proposed

NEMETSCHEK - 0.75 eur/shr dividend proposed

SOFTWARE AG - 0.65 eur/shr dividend proposed

ADLER REAL ESTATE - no dividend proposed

WACKER NEUSON - 0.60 eur/shr dividend proposed

EX-DIVIDEND

FRAPORT - 1.50 eur/shr dividend

OVERSEAS STOCK MARKETS

Dow Jones -1.6 pct, S&P 500 -1.2 pct, Nasdaq -0.5 pct at close.

Nikkei -1.5 pct, Shanghai stocks -1.7 pct.

Time: 5.00 GMT.

GERMAN ECONOMIC DATA

German April import prices due at 0600 GMT. Seen +0.7 pct m/m, +0.8 pct y/y.

German April retail sales also due at 0600 GMT. Seen +0.6 pct m/m, +1.2 pct y/y.

German jobless figures due at 0800 GMT. Seen -10,000, unemployment rate unchanged at 5.3 pct.

German May inflation figures due at 1200 GMT. CPI seen +0.3 pct m/m, +2.0 pct y/y. HICP seen +0.3 pct m/m, +1.8 pct y/y.

DIARIES

REUTERS TOP NEWS (Reporting by Ludwig Burger and Caroline Copley)

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