November 8, 2018 / 5:40 AM / 8 days ago

German stocks - Factors to watch on Nov. 8

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

ALLIANZ, DEUTSCHE BANK

A group of large institutional investors including Allianz SE’s Pacific Investment Management Co has sued 16 major banks, including Deutsche Bank, accusing them of rigging prices in the roughly $5.1 trillion-a-day foreign exchange market.

BMW, DAIMLER

The European Union’s competition authority said on Wednesday it had approved the plan of German luxury carmakers Daimler and BMW to combine their car-sharing businesses, subject to conditions.

CONTINENTAL

Q3 results due. The car parts supplier’s CFO told Reuters in October that he expected a decline in third-quarter adjusted operating profit to around 770 million euros ($878 million).

DEUTSCHE TELEKOM

Q3 results due.

FRESENIUS MEDICAL CARE

The company has paid about $34 million to fend off a Californian proposal that would have limited the rates dialysis clinics can charge commercially insured patients.

HEIDELBERGCEMENT

Q3 results due. Operating EBITDA seen stable at 1.1 billion eurso. The company issued a profit warning on Oct. 18, blaming bad weather in the U.S. and higher-than-expected energy cost inflation. Poll:

SIEMENS

Q4 results due. Profit in the industrial business segment seen down 0.7 percent at 2.12 billion euros. Poll:

VOLKSWAGEN

Volkswagen Group of America Finance was poised to sell a US$8bn seven-part bond on Wednesday, it’s first plain-vanilla US dollar issuance since it was caught cheating on emissions tests in 2015.

COMMERZBANK

Q3 results due. Net profit seen down 55 percent. Poll:

DUERR

Q3 results due. EBIT seen down 27 percent, net profit seen down 32 percent. Poll:

HANNOVER RE

Q3 results due. Net profit seen at 62 million euros. Poll:

PROSIEBEN SAT.1

The German broadcaster cut its dividend payout ratio and warned it may have to book up to 400 million euros in one-offs this year, as the ailing German commercial broadcaster unveiled a strategy update to revive its fortunes.

RHEINMETALL

Q3 results due. Net income seen up 108 percent, sales seen up 4 percent. Poll:

RTL GROUP

Q3 results due. EBITA seen down 1.5 percent. Poll:

COMPUGROUP MEDICAL

Q3 results due. EBITDA seen up 43 percent, at 40.4 million euros. Poll:

FREENET

The company said it expects core earnings (EBITDA), excluding Sunrise, to come in at the upper end of its guidance in 2018.

DEUTZ

Q3 results due.

HEIDELBERGER DRUCKMASCHINEN

Q2 results due. EBIT after special items seen down 29 percent. Poll:

SMA SOLAR

Q3 results due.

SAF HOLLAND

Q3 results due.

WACKER NEUSON

Q3 results due. Net profit seen down 6 percent, at 30 million euros. Poll:

BERTELSMANN

Q3 results due.

GOVECS IPO-GES.F

IPO offer period due to end. Price range was set at 10 to 12 euros per share.

OVERSEAS STOCK MARKETS

Dow Jones +2.1 pct, S&P 500 +2.1 pct, Nasdaq +2.6 pct at close.

Nikkei +1.8 pct, Shanghai stocks +0.4 pct.

Time: 5:37 GMT.

GERMAN ECONOMIC DATA

German September trade data due at 0700 GMT. Imports seen up 0.8 pct m/m, exports seen up 0.3 pct. The trade surplus is seen at 18.0 billion euros.

DIARIES

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

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