October 12, 2018 / 4:51 AM / 2 months ago

German stocks - Factors to watch on Oct. 12

BERLIN, Oct 12 (Reuters) - The following are some of the factors that may move German stocks on Friday:

BMW

The company could quickly shift its Chinese joint venture’s production at Shenyang to 100 percent electric vehicles in response to market demand, BMW board member Oliver Zipse told Handelsblatt daily.

CONTINENTAL

Chief executive Elmar Degenhart warned that plans to limit car emissions could have dire consequences, including severe job losses, according to an interview in Friday’s Frankfurter Allgemeine Zeitung.

VONOVIA

The group said it would buy a 10 percent stake in a 4,000-unit residential portfolio from SNCF Group as part of a consortium. It reiterated that it believed France’s real estate market offered a meaningful long-term opportunity as long as there were legislative changes.

FRAPORT

September traffic figures due at 0500 GMT.

RHEINMETALL

U.S. weapons maker Lockheed Martin Corp and German peer Rheinmetall AG said on Thursday they will make a joint bid to supply the German navy with MH-60R Seahawk helicopters built by Lockheed’s Sikorsky unit.

KNORR BREMSE

Shares in the German brake systems maker Knorr-Bremse are due to start trading on the Frankfurt stock exchange, in one of this year’s biggest listings in Germany. The company set the issue price at 80.00 euros per share.

QINGDAO HAIER

Qingdao Haier announced a price range of 1 to 1.50 euros for D-shares to be listed on the Frankfurt stock exchange. The offering will run from Oct. 15 to Oct. 18, with shares to start trading on Oct. 24.

ANALYSTS’ VIEWS

ZALANDO - Credit Suisse raises to “outperform” from “neutral”, cuts target price to 38 euros from 40 euros

OVERSEAS STOCK MARKETS

Dow Jones -2.1 pct, S&P 500 -2.1 pct, Nasdaq -1.3 pct at close.

Nikkei -0.4 pct, Shanghai stocks -0.1 pct.

Time: 4.49 GMT.

GERMAN ECONOMIC DATA

German September final inflation data due at 0600 GMT. CPI seen at +0.4 pct m/m, +2.3 pct y/y. HICP seen +0.4 m/m, +2.2 pct y/y.

DIARIES

REUTERS TOP NEWS (Reporting by Berlin Speed Desk)

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