May 8, 2019 / 5:46 AM / in 12 days

German stocks - Factors to watch on May 8

BERLIN/FRANKFURT, May 8 (Reuters) - The following are some of the factors that may move German stocks on Wednesday:

SIEMENS

Siemens posted better-than-expected adjusted operating profit from its industrial business during its second quarter as the German industrial giant began separating and spinning off its struggling power and gas business.

DEUTSCHE BANK

Deutsche Bank said negative recommendations made by U.S. proxy advisor Institutional Shareholder Services (ISS) did not reflect the current situation of the bank and its control environment.

SAP

CEO Bill McDermott welcomed a $1.3 billion investment by activist investor Elliott, saying the U.S. hedge fund group was aligned with his goal of expanding margins by driving top-line growth.

MUNICH RE

The reinsurer upheld its guidance as profit in the first quarter came in at 633 million euros.

WIRECARD

The company said it lifted its guidances after a strong first quarter.

COMMERZBANK

Germany’s Commerzbank CBKG.DE on Wednesday posted a 54 percent drop in net profit in the first quarter, just weeks after merger talks with rival Deutsche Bank DBKGn.DE fell apart. It attributed the decline to a higher tax burden.

DELIVERY HERO

Q1 results due.

FRAPORT

Fraport AG said earnings before interest, taxes, depreciation, and amortization (EBITDA) increases by 14.8 precent to 200.6 million euros ($224.73 million) in the first quarter.

METRO AG

Supervisory board meeting will meet on Wednesday, German daily Handelsblatt reported.

NORMA GROUP

Norma Group said adjusted earnings before interest, taxes and amortization of intangible assets (EBITA) fell by 13.3 percent year-on-year in the first quarter of 2019.

OSRAM LICHT

German lighting company Osram OSRn.DE on Wednesday posted a 56 percent drop in adjusted earnings before interest, tax, depreciation and amortization (EBITDA) in the second quarter, saying that the market environment remained challenging.

STEINHOFF,

South African retailer Steinhoff, which is also listed in Frankfurt, on Tuesday reported a $4 billion operating loss in the 2017 fiscal year, in a much-delayed earnings report revealing the impact of a $7.4 billion accounting fraud.

SCHAEFFLER

The bearings maker has sold its Barden factory in Plymouth, south-west England to a division of HQW Precision, securing nearly 400 jobs.

BILFINGER

Bilfinger said it confirmed its outlook for 2019 after posting net profiut of 9 million euros for the first quarter.

CTS EVENTIM

Q1 results and annual general meeting due.

TLG IMMOBILIEN

The company said rental income was up by 3.7 percent to 57.0 million euros in the first quarter.

MORPHOSYS

Morphosys first-quarter net loss widenend to 22.7 mln euros from 19.5 mln in the year-earlier period.

ANNUAL GENERAL MEETINGS

Allianz SE - 9.00 eur/shr dividend proposed

Deutsche Boerse - 2.70 eur/shr dividend proposed

Hannover Re - 5.25 eur/shr dividend proposed

Bilfinger SE - 1.00 eur/shr dividend proposed

CTS Eventim - 0.62 eur/shr dividend proposed

EX-DIVIDEND

DEUTSCHE LUFTHANSA - 0.80 eur/shr dividend

FUCHS PETROLUB - 0.95 eur/shr dividend

SILTRONIC - 5.00 eur/shr dividend

HOCHTIEF - 4.98 eur/shr dividend

TAG IMMOBILIEN - 0.75 eur/shr dividend

HAMBORNER REIT - 0.46 eur/shr dividend

OVERSEAS STOCK MARKETS

Dow Jones -1.8 pct, S&P 500 -1.7 pct, Nasdaq -2 pct at close.

Nikkei -1.8 pct, Shanghai stocks -0.4 pct.

Time: 5:46 GMT.

GERMAN ECONOMIC DATA

German March industrial output due at 0600 GMT. Seen -0.5 m/m.

DIARIES

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

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