October 22, 2018 / 4:50 AM / a month ago

German stocks - Factors to watch on Oct. 22

FRANKFURT/BERLIN, Oct 22 - The following are some of the factors that may move German stocks on Monday:

BANKS

The association of German banks is due to hold a news conference about upcoming stress tests.

BAYER

Roche’s entrectinib cancer pill was shown to shrink tumours in 57 percent of patients within a group that can only be identified via genetic profiling, as the Swiss drugmaker challenges an alliance of Bayer and Loxo Oncology in a new targeted treatment area.

CARMARKERS

German Chancellor Angela Merkel on Sunday promised legislation to ward off the threat of air pollution leading to driving bans.

Also, Audi’s first electric sport utility vehicle (SUV) will hit showrooms four weeks later than planned because of a software development issue, a spokesman for the German luxury car brand said on Sunday.

MERCK

German drugmaker Merck KGaA might agree partnership deals to jointly develop two of its most promising experimental medicines with a rival as early as this year, but more likely in 2019, its drug research and development chief said on Sunday.

SIEMENS

Iraq has signed agreements with General Electric and Siemens over potential deals to develop the country’s power infrastructure, the electricity ministry said on Sunday.

Siemens boss Joe Kaeser came under pressure from senior German politicians on Sunday to pull out of an investment conference in Saudi Arabia next week following Saudi journalist Jamal Khashoggi’s death.

STEELMAKERS

The steel sector faces additional costs of 3.5 billion euros ($4.03 billion) next year from buying EU emission trading certificates, the head of the steel association told the Welt newspaper.

KNORR BREMSE

The brake systems manufacturer said almost all the over-allotment shares for its initial public offering had been placed, resulting in a total offer volume of 3.85 billion euros ($4.43 billion) and a free float of 29.84 percent of its shares.

ANALYSTS’ VIEWS

SOFTWARE AG - Barclays raises to “equal weight” from “underweight”.

OVERSEAS STOCK MARKETS

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

Nikkei +0.4 pct, Shanghai stocks +4.2 pct.

Time: 4:42 GMT.

GERMAN ECONOMIC DATA

No economic data scheduled.

DIARIES

REUTERS TOP NEWS ($1 = 0.8686 euros)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below